I counter at 62k with the comps but the bank rejects sticking to 67k (they said it had something to do with a reverse mortgage...blah blah blah).

They will reject you at first but be prepared to give them a card, thank them for their time and walk away.

Yea, 25% over night isn't bad... but I hear they are rejecting the offer, so it will be interesting to see how that plays out.

If your offer expires today, then you should be fine to offer on another one.Try contacting the listing agent (email is best with the busy ones), and letting him/her know that you need an answer so you can move forward with another deal.If it's been awhile since you made the offer, chances are, they rejected it, and just didn't bother to tell you.

I have never heard of a seller rejecting or discounting the value of our POF's.  

Personally I do not like drug users or abusers of alcohol and I would reject their application regardless.

Generally, the trustee has the authority to assume (continue) or reject (cancel) the agreement, making you an unsecured or secured creditor for any option money already paid.

Is it likely they wound counter or just flat out reject it.

If he rejects it, then you tell him that you tell him that you may have a way to make this work if he is flexible on the terms.............PM me.

You should set your expectations that you will get rejected much more than accepted because of the seller's mindset that they will get what they want for the property.