Nothing new about getting low ball offers.  After all that is the nature of beast -- to get a deal - right?  But the big question here is what is right for the agent to do?  Should the agent treat this offer as an insult and not present it to the owner/seller and definitely not to the bank/lender?

Ethically speaking and procedure is to the present all offers.  Agents, we are not the judge and jury here... our job is obtain an offer and present it to the seller.  In the case of a short sale the seller is the owner.  If that owner decides they do not want to present that offer, that is their decision -- isn't it?

However, if that owner/seller signs the offer..... agent you are to present it.  Do it the same detail as you would of a higher offer.  After all it could turn out to help you know the following:

1.  where the bank is coming from as far as what they are looking for -- who knows they may just counter back - countering back has always helped me to see where the bank stands on approving the request.  So if it is still time, you go out and aggressively get another offer for the amount the bank has countered.  If you run out of time, well that is not good especially if you took the property off the market for this low ball offer.

** Make sure you keep up with the sales date and keep on accepting other offers.  If you get one that is higher than the low ball ------> send it in!  You may just get an acceptance.

In summary: Let the bank be the decider of what is too low for them to approve.  In my opinion, agent do not have the right to put offers in the round file!  Not your job.