A LOI is a non binding document at the end of the day.As for the counter offer what is the leverage to be offering 40% less than asking price with 20% less down payment and 2 years less amortization for -50% interest profit that the owner would agree to such a hair cut?

So I previously started a thread about a property I was looking at and I put an offer in, admittedly it was a low ball offer. The Seller didn't budge much, went from $300k to $290k and now to $285 plus closing costs. ...

The only thing he does is takes offers and counter offers.  

Yesterday, I got a counter offer from HUD for $103,275.00 I beat the counter by $1.99 making my offer $103.276.99.  

I got a counter offer yesterday for $85,000.  

It sounds like a counter offer if they changed some of the terms you offered on the contract.  

Our thought was that if the bank believes the offer is low, they will counter-offer.

They get an offer for 70 but it is rejected with a counter offer for 85k the 85 is a pre approved price.

He has been doing this for successfully 15 yrs, his team does 200 transactions a year, so he pretty well versed in the market, and while he absolutely want me to get that price, He thinks they will counter offer back to listing price or close too.

Would they counter offer, or do they just want to unload?