We tell the banks to take the money and run in this market. With so many short sales and foreclosures the banks are overwhelmed. If we get a buyer, write up a contract for something close to list price and the buyer has a preapproval for financing or cash, then why not take it? Banks are losing more money by counter offering for $5,000 more than the offer. How ridiculous this actually is. Here's why; If the banks counter an offer and the buyer walks, then we continue to market the property and show it in hopes of finding a new buyer. It could take, and usually does, 6 more months before another contract comes in. The bank has to pay all the taxes and insurance and any hoa fees for the 6 months lost plus take another 5,000 or so less because the market decreased in value.... again.
Here us out banks: take the money and RRRRUUUUUNNNNNNNNNNNNNNNN! We're doing you a favor, and want to see it work.