Short Sale Help (mortgage, accepting, price, property)

[winick_aza]

A house was listed for $241,000 and both the seller and bank approved the sale at that price. At the last minute, the buyer walked away. The house went back on the market at $241,000. We placed an offer of $241,000 on the house. It was accepted by the seller, but the bank has now countered at $265,000. How is this possible? The bank already approved the sale at $241,000 and within 2 weeks they are now asking $265,000. Nothing has changed with the property to justify such a massive jump in price. Why would the back re-list the house at $241,000 when they had no intention of accepting an offer at that price?

[rjrcm]

The bank did not relist the house, the owner did, and hoped the bank would take another offer at the same price. The bank does not have to approve the same price as was previously agreed. You may be dealing with a different bank negotiator that determined a higher price was more appropriate. You can try recountering again at the old price.

[Touchette]

As rjrcm pointed out, the specific circumstances at the bank, or whomever owns/controls the mortgage, may have changed or any number of other circumstances could be affecting the situation. All you can do offer the price that you are willing to pay; if you have an agent, he should be telling you all of this.