Why won't the banks "deal"?
Last week I submitted an offer on a foreclosure listing. The bank bought back the house for $34,000 at sheriff's auction and listed it for $48,000. It's been on the market for 60 days. I made a cash offer for $35,000 and they countered at $47,000. I walked. 5 days later they lowered the listing price to $43,200. I'm resubmitting my $35,000 offer but I can't help but have a bad attitude about this process. Most likely they will counter at $42,200 and I'll say no again. The house will sit for another 30 days, they'll lower it to $36,900 and I'll buy at $35,900. Why does the process work like this? Is it even worth it to a ask this question?