Bank says no counter on Short Sale?

[Peter Lee]

So, 3 weeks ago, I found a house on the MLS listed for $74k, I made an cash offer on a short sale and it was accepted by the seller. Today, I got a phone call from my agent saying that GMAC negotiator wants $90k for the house and she said no counters. I was like WTH? no counters? I never heard of that before.

Have you guys had any banks / negotiators saying that?
Property is in Las Vegas, and the past 3-5 months has been crazy on houses at this price range.

Not sure if this matter, but the bank statement that I gave them when i submitted the offer had a balance of $91k.

[Steve M.]

I've dealt with this on a short sale I tried to work about 8/9 months ago. So far, I'm 1 for 2 on shorts.

Chances are, the short sale wasn't preapproved at $74k. $74k was probably the figure the agent came up with thinking this is what the bank *might* accept.

The seller can accept anything, but at the end of the day, the bank is the one who decides whether or not to move forward.