Hi everyone:

Our office is representing the buyer.   Our original offer of $120,000.00 was at list price and accepted by the seller.  Listing agent submitted the file and we waited.  About 2 months later, Citi countered at $130,000.00.   The buyer came up to $125,000.00.

Today, we received another counter from Citi now at $169,900.   There is no way that values in that subdivision come anywhere close to this.   Plus, this house needs work, has settlement and structural issues. 

Are they for real?  $49,900 over their original counter.  I just don't understand this.  I am determined to research Citi to see what their practices are, etc.