Either way you have an opening to push for a counter offer.Even if you like his counter offer, don't jump at it.  

After two weeks the seller wants to rekindle our previous contract and give us all the reductions we asked for in our do-or-die counteroffer.

If your gut is indicating to offer lower...offer lower; at the very worst - they will come back at a counter offer.

Also the offer prices indicated are only starting offer prices and give me the ability to work my way up a bit if there's a counter offer.

You in turn use the bank addendums as a counter offer which yields you a 3-4 day period to back out if you need to stretch it.

I am selling a house... in order to ensure buyer actually qualifies for the mortgage, I typically  ask that he qualifies with my mortgage lender as well (mortgage lender is a friend of mine and I have asked him to please check in detail all income documents and bank statement before pre-qualifing my buyers)..Buyer is a first time buyer and is a bit irrational.... does not want to do it.... he will not sign my counteroffer asking him to make this step. 

If this seller happened to approach me with a counter offer in the future, then that'd be great - I'd look at it!

Countered a seller's counter-offer for his duplex.

TOnight he has counter offered at 330 and I pay for any structural damage.

If it makes sense, go forward, if it doesn't re work the numbers and go to your lender with a counter offer that makes sense for you.