We are trying to purchase a home that is in “short sale,” and foreclosure proceedings have already begun. The home is listed at $285K; our initial offer was for $244K. The sellers countered at $285K and did not consult the bank prior to giving their counter offer. We submitted two more offers – $249K and $260K – and never got any response from the listing agent, who now will not even return phone calls from our agent. In a short sale situation, doesn’t the listing agent have to consult the bank when they accept/reject any offer? What options do we have in this situation? Tags: agent, bank, listing, offers, present, sale, Short, Wealth Building … Read entire article »