I did a bid sale this past weekend and one buyer really wanted the house turned out to have submitted an offer back in September while it was listed, but the offer and the slightly higher counteroffer were rejected by the seller and they did not pursue it and the agent disappeared.

My offer was $55000, all cash the couple accepted it and then the real estate broker had to present it to the bank,Based on my prior experience I thought the bank would make a counter offer or reject my offer outright, Guess what the next day the broker called saying the bank wanted to see proof of funds they accepted the offer provided I could close before Dec 8th.I closed Dec 2nd I spent the last month painting it and refinishing the floors I have a great tenent ready to move in feb 1st at $750 per month .

I also counter offered and asked for a little more time and still to give me the money because the amount they offered me is only half of  what it would cost me to move and I am struggling in this economy and do not have  the money for the rest I need time to save.That was about a week ago and I still have not heard from her.

They just take longer to counter-offer so don't let them rattle you on this one.

I talked to them today when they requested the receipts and they said once they get the receipts they would make me a counter-offer.

First Question - Should I be skeptical of this deal because of the uncommon lower counter offer and other stipulations?

The owner's counter offer was 23k and I pay closing cost ( he has the duplex for sale at 25k)I just followed up with a offer for 20k and we split closing costs 50/50.

I told the banker that I was not interested in the counter offer but would go ahead with the accepted offer.Here is the deal. 3 bedroom house in OK shape, good roof, vinyl sided, rented for $400 per month with tenant responsible for all maintenance on the property for entire lease term.

In both cases, they allowed me to make a final "highest & best" offer, but they would not make a counter-offer stating their reserve.

The bank will give you a counter offer.