Are there any ways to negotiate with bank AFTER the offer is accepted?

Question

OK, a bank just accepted my offer, and that is nice. I was the only bidder who bid over the amount that bank offered.

Now, are there any tricks I can use to have the bank lower the price at this point? Anything I should look for in a house that I can use as an argument?

Any hidden ways like that at all?

Please only answer if you know something.

Answer 1

NO and most likely it's an AS IS sale.  You don't have to accept the price- you can ask for lower but they might refuse.  But you can't start high and go low- you should have bid lower and worked up.

But after you sign- which it sounds like you already did!!!

Even if you find something wrong with it with an inspection- you can't get out of the purchase of the home if it's an AS IS sale, which most bank homes are.

Please read what you signed!

Your can't argue a cheaper prices- it's just unprofessional.  You either accept or you don't.

Answer 2

All bank owned properties are "as is" sale.  You should have to estimated the fix up cost before bid on it.  Once they accepted your offer, the price is settle as well as all the terms on the contract.  Did you put a "subject to inspection"? This allow you to withdraw the contract after you find out something serious on the house such as termites, big water damage, leaky roof, etc. But you can't use those to renegotiate the price any more.

Answer 3

NO!

Answer 4

From your post, it sounds like you bought the house at a auction and you outbid the bank.  If so, I highly doubt it.   At auction sales, you buy at your own risk.  Even if there are issues with the property, when you bid, you agreed to buy as is.  Sorry Charlie.....