Hi All,

I'm 2 months into a short sale.  Made an offer on a house that is serviced by NationStar.   After my bid was accepted, NationStar turned the property over to auction.com.  The auction failed, Apparently there were no bids higher then mine. Now after another month of nothing, my agent has warned me that NationStar plans to come back with a counter offer.   Has anyone worked through this scenario before?   My instinct is to tell them no since my offer was 20% over MLS and the house failed on auction.com AND my offer is higher then a failed sale through MLS 9 months ago. My offer is a very good market price, not a deal for me.  We like the property.  I'm sure they just want to get as much money for the property to reduce the BofA loss.  

Has anyone told Nation Star to take a hike?      

Can I expect them to try to sell the house as is and eliminate the inspection? 

Any counter offer ideas?

Thanks.  I will write this up once I own or lose the property.

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Can I expect NationStar to share their appraisal with me?  After all of their threats about participating in auction.com bidding (I didn't), my gut feeling is that they will just throw a bunch of additional requirments (pay for closing, increase your price, waive inspection, use NationStar for the mortgage etc.) to cover more of the loss from bad loans to the current owner. My current thought is to reject their counter and let them put it back on the market or better for me - foreclosure.   Any thoughts, experience?    

Thanks Brain. You are right,  I am concerned about additional fees and charges, more nickle and diming.    I am very frustrated with NationStar because my offer has been validated three time in the market and I am not asking for a price reduction for any needed repairs.  My contingency allows me to withdraw due to a major defect.  No price reduction. 

@Ron Scribner.  I didn't register for auction.com and that worked out for me despite all kinds of auction.com warnings. My attorney told me to never bid against myself.Once you add the additional 5% to my offer and the take it or leave it contract, the property price is not attractive. In short, the short sale process is not a chance for me to buy the house at a reduced price.  I watched the final three hours of the auction and saw a bunch of robo bids and time resets - always 1 second before the expiration.  Auction stopped before the reserve price was not met property went back to NationStar.  I will write this up once I buy or pass on the property, hopefully with lessons that can be used by other buyers and their agents against the shady practice of soliciting offers via MLS only to use those as the base for an auction.com event. I'd have no problems with NationStar if they just put the property up on auction.com without prior accepted MLS bids.  With their ability to bid up to the reserve price and not have to buy the property if they win, the accepted buyer can easily end up bidding against himself for the privilege of buying the property with the biased auction.com contract.   

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