Hudson and Marshall counter offer.

[Tomas Satas]

Good afternoon fellow investors!

Has anybody ever won an auction at Hudson & Marshall, mail in the contract/earnest money, and then get an email a few days later with a counter offer from the bank?

Not sure if I should stick to my winning bid or accept the offer.

The bank might be bluffing or maybe not?

Thanks so much! :)

Tomas

[David M.]

An update to this. The property I was bidding on with Hudson and Marshall went back to auction and I won the auction. This time I had to bid all the way to the original asking price. It was still a good deal so I took it. I used my own closing and title company. I had to pay all closing costs including excise tax. All of this was stated in the terms of the deal and was in the purchase and sale agreement. The process was a bit slow but Hudson and Marshall was fair and executed the deal as stated. I have no complaints and I will do business with them again.