Wells Fargo had sent a counter offer, it was higher than the asking price of the home and way more than the comps suggest for a house in that area and condition. I didn't care, I was just excited that the bank had responded. Before I had a chance to really interact, my agent and the selling agent had already begun to argue the case with Wells Fargo.
With great eloquence the selling agent responded to the bank stating that their counter offer was too high, the home had fire, mold and water damage; the previous tenants had left the kitchen in complete disrepair and that the seller was obtaining a loan to make the necessary repairs. She also told them that she would ask me to pay more but that the closing costs had to be covered by the bank. The bank responded by asking for an appraisal of the unit to confirm the damages.
So now the selling agent is asking me to pay for the appraisal which could cost upto $550, my agent of course said "No, why should she pay for something that is not guaranteeing her the property? If the seller pays we will reimburse her through the sale process"
At this time the paperwork has been adjusted to offer $5k more but must include closing costs and the seller is to pay for the appraisal. The ball is now back in the banks court. AND another side of Wells Fargo has begun foreclosure procedures. It is everyones best interest for me to get what I want. The bank doesn't want the house on their books, the seller doesn't want foreclosure on her credit and I want that house at the price below the counter offer.
I'm just going to continue to the voices in my head.
