I am representing the buyer in a B of A short sale on a townhome. We have an executed sales contract with earnest money in at title. Short sale addendum that states "seller will make every reasonable effort to obtain lienholders consent and agreement."
Here's what's happening.
1.My buyers offer was $115,000.
2. The bank countered back at $130,000 with seller to contribute $10,000.
3. The seller's listing agent asked for my buyer agree to a price of $130,000 with NO seller contribution.
4 .I told the agent my buyer counter is $122,500
5. Listing agent told me that he has other offers that are higher than that that he will be sending one of thse to the bank rather than my buyers counter.
I would have expected him to put forward my buyers counter.... Isn't the seller obligated to continue in negotiation with my buyer until the bank rejects the offer outright?
Am I wrong? Please help!
Susan
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