We are also very clear that we will not negotiate against ourselves - if we do not receive a counter offer or material information indicating our valuation may be in error, do not ask us to change our offer.This agent had contacted me several times via e-mail, despite our indicating that we were comfortable with our offer, and asked that we submit our best offer ... so I did.

As long as it is a decent offer and you're willing to counter offer, that would put you ahead of the general public.  

So we offered a reasonable cash offer given the condition.Either way, my agent told her that we would be open to considering a counter offer from the seller.No reply for two days, then the seller's agent told us they had "accepted another offer".Yet, it's been 48 hours and the MLS still lists this property as active.So my gut and guess is that she was lying to us and didn't want to take our offer due to it being lower than their ridiculous request.Is she allowed to lie to us about accepting another offer?

My question is more so around the thought of, if banks typically counter offer or just reject offers overall?

Let me illustrate:Your current approach:Step 1: Look at 100 housesStep 2: Make offers on 10Step 3: Maybe get a counter offer from 1 motivated sellerCompared to the approach of virtually all successful investors which looks like this:Step 1: Find 100 motivated sellersStep 2: Create solutions for their specific problemsStep 3: Qualify the properties and probably buy at least 50% of them

On this foreclosure, the bank postponed their initial counter offer until 5pm the next business day.

The counter offer was much higher than anticipated with a note saying that they will have to fix any FHA required repairs.

Figure out the max to offer and fo below to see if they will counter offer.

I would probably counter offer subject to lending compliance at 8% either amortized or I/O depending on how that loan is classified.

Do I push the bank more with another counter offer or ask them to pay for 1/2 closing costs?