Calif.) for my market these are the mechanics that have worked for me:•Establish the criteria for my previously qualified Buyer (REO’s, Short Sale, Price range, area, type of property, etc.)•Talk to Loan officer about: Down payment, Closing Costs, Rate, Monthly Payment, type of Loan. •Set up my local MLS with client’s criteria and the system will automatically select properties.•Revise properties manually and start showing to clients.•Once my client likes a property, then I work getting comp’s, client gets estimates for Repairs (only if property needs).•Write up an offer taking in consideration the points above mentioned, Lenders in some cases are asking for cross-qualification, before submitting an offer.•If offer ends up as one of the finalist (only when the property is price right), Lenders gets back with a Counter Offer and Sellers Addendums.•If your Agent keeps communicating with Listing Agent and responds fast, then you’ll get your offer accepted, after that time to get in Escrow.You may need to call local Buyer’s agents before you decide.Noe R.

"Me: "But aren't they at least likely to counter offer?"

I have never received a counter offer - nevermind an approval letter w/o a solid signed and SUBMITTED P&S.  

Turns out they did, I had first dibs on the property and after one counter offer settled on $117,500 purchase price.

Just got an counter offer of $162k from bank on a property that was listed for 189k.

Wait for the counter offer from the lender.  

Taking the offer" is not the same as "Accepting an Offer"; the latter implies the contract has been established (aka offer, acceptance &  consideration), the earnest money paid and the escrow for the sale has been opened.Typically between the Taking and Accepting is a flock of negotiations via Counter Offers which leads to Acceptance.

Equity in the house went up almost 100k in one year (WAYY to much for the area and the house) and if you want a hint on the price they were asking, the taxes went up 20% in that year.Got countered at 50k less than asking and I countered their counter offer with 100k less then that.

There seems to be a magical number and percentage and they come to light when counter offers are made...so make an offer and play it out!

I'm in escrow on a house 3bed 2bath with 2car grarage which we plan on coverting to ADU, for the ultimate house hackbefore aprasal and inspection we made an official offer at 630k. home inspection results had good foundation and plumbing, but roof needed to be replaced in a couple years, electrical needed upgrade, and we want to remodel kitchen and bathrooms to more modern style.we made counter offer at 620k and not sure if this a good deal. 2 comps from the appraisal range 640k - 670k and in the last 12 months 62 comps from 520k - 755k. the Plan is to rent out both rooms for a year then rent all afterwards and hopefully have the ADU done also. thanks everyone