Seller can then accept the contract, counter offer on the inspection period, or decline to accept.

I would also make sure that your offer is accompanied by a pre-approval letter from the bank.....I would also put language in there that says the offer is only good for 5 days.IF your offer that is $100K under and it gets rejected or there is no response within say 5 days.....then wait a week....and see if the property is still on the market....if it is, simply have your agent take a COPY of the original offer, and literally cross out the date with one line through it, and put a new date on it, and re-submit it.Keep repeating that process every 10 days or so with a new date until the seller gives you at least a counteroffer.....the message to the seller will be....."

Also good job sticking to your estimated price because you know what is best for the client so I wouldn't budge unless the seller gives you a counter offer, then you can "think about it". 

Instead of 4-8 solid offers, seller still has a choice who to counter offer to with fewer offers. 

The agent went into the web site and clicked the button to accept the counteroffer. 

The buyer's agent asked for a counteroffer and even verbally offered an additional $8K over the phone.  

I wasn't prepared for it and I sure don't have that 30%. my calculation was base on 5% interest rate, now the extra 1.5% eat up big chunk of my profit. lucky me that I was bale to exit due to counter offer.

I was expecting some kind of counter offer from seller.

At least one of them will come back with a workable counter offer

I feel with a little work, it could be so much more than it is, if I don't get robbed. i'll get the information and then maybe someone could help me determine if its a good deal, or maybe I should counter offer something else or what. thanks for the input guys this is what im looking for. i'm so eager to get something like this, I would probably have signed off on any deal if I could have came up with the down payment