Negotiating with the bank on a distressed property
I recently got a property under contract for 140k and had 3 contractors quote me on how much it would be. Which was over 40k in rehab cost on average.The bank believed that the listing realtor undervalued the property and wanted the realtor that represented the property to show proof for the price listing being so low. I was prepared for battle and was actually going to submit my contractors quote substantiating the damage to go along with my bid but while in the process the bank used there own Brokers Price Opinion and as you may have guessed rejected my first offer and stated that they wanted as close to 180k as possible. The comps are in the 200's so the higher it gets my stomach turns over more and more at the potential skinny profit margin. In this instance should I still go ahead and finish up with the quotes my contractor or is it to late to try to play my style of negotiation? Shouldn't this melee have been left to the Realtor?