Can banks accept a new offers if they gave us a counter offer?

Question

We placed an offer on a REO property and the bank countered and said its between you and someone else so offer your highest and best. We placed our counter offer and was told they will get back to us within 24-36 hours. Well its been over 36 hours and no response.

So my question is can the bank accept new offers even though they countered our offer?

Answer 1

IF their counter offer was what you wrote

above, it is not a counter offer; it is an offer to make an offer; they skirted the law of

specificity.



If they had counter offered, they would have

said "we refuse $250,000 but we accept

$280,000."



That is specific.

Quickly, see if they will COUNTER you

with a real counter offer.



I am sorry for your inconvenience.

Answer 2

If the financial enterprise's counter grant had ALL their signatures and initials contained in the final places, and you signed and notified them of acceptance beforehand of them notifying you of the hot grant, then the financial enterprise has 2 shoppers. If their counter became on unsigned workplace work, then there is not any deal. financial enterprise criminal experts are real sturdy at CYA. They on no account do a counter grant with all of the signatures on it - in actuality NO supplier could do counter supplies like that. In Texas, sellers do no longer do counter supplies. We deliver a "Rejection of grant with invitatin to placed up a clean grant" coated are techniques for what could be proper to the supplier. At no time will a sturdy lisitng agent enable his supplier sign a counter grant.

Answer 3

Yes they can. Since you have not heard from them they probably got a higher counter from the other interested party. If you have a real estate agent, have him/her check for you to see what exactly has happened. If you don't call and speak to the person you submitted the offer to.

Answer 4

Yes, they can.



Until someone accepts an offer, it's not final. ]



Call them Monday and ask them what's going on.