If it doesn't you may get a counter-offer in the next week or so.

I've noticed recently from some counter offers that I received from HUD that their bottom line is 82% of asking.

No I'm talking about Offer to Purchase contract, it's basically a purchase contract but with all of the property description, terms, etc. but at the end of the contract it gives the seller the option to do a accept your offer, do a counter offer, or decline your offer.

I offered less than I was willing to pay but the seller accepted without a counter offer because of the fast close. 8)

Counter offers??

Well, I'm still making offers even though so far nothing but rejections, and counter offers that just don't come close to meeting My Numbers.

I said ok, send me your counter offer.My question(s) is:How should I have structured my offer to AVOID a counter offer and how should I respond to the seller's counter offer if it cuts into myprojected profit?

The seller may 1) reject your offer (or ignore you completely), 2) accept your offer, or 3) make a counter offer.

When I do come up with a price that I can afford to pay, should I underbid that number a bit expecting the bank to counteroffer?

Be careful with the emotional attachment, don't let it lead you into paying more than your numbers tell you if you get into a counter offer situation.