Is it legal for the price of a house to increase during the sale of the house?

My wife and I are purchasing our first house and it was originally listed for 117,500. We put an offer in at 109,000 and raised it multiple times. Now the realtor is telling us that the bank will accept no less than 118,750 for the house. Is this legit or am I being scammed by the broker to pay more money?

Related Topics:

  1. While waiting for a bank to decide on a short sale who pays ongoing costs of empty house? Does the seller pay the mortgage, taxes, utilities on a house with an offer waiting for bank approval? Once the bank approves and accept the short sale offer might there be additional charges if the seller has not been paying mortgage on a home where he no longer lives? If...
  2. Looking for answers on a house short sale? Put an offer to the seller and they accepted it.The realtor wants me to pay the ernst money and get a home inspection before the bank even approves the offer.I would be out the money from the inspection if the bank doesnt approve the offer.Does this sound like the way...
  3. Does a real estate agent have to get consent from the bank to lower the price for a short sale property? The property is in California and the real estate agent is the listing agent. He had it originally listed for $300k and he dropped down the price to $250k. Did he get consent from the bank to drop the price or did he not need that consent?...
  4. Is offering 15% below list price on a house that has been for sale for over 1.5 years too low? My husband and I are first time buyers. We found a house listed at 315,000 that has been for sale since June 06. Not an extravagent house, 1900 sq ft, single family 3 bedrooms in suburb of Charleston, SC. Would an initial offer of 15% below list be considered absurd?...
  5. How Long does it take for banks to offer a house you want to buy for sale? We fell in love with this house and its been for sale for like a year and our realtor send the offer to the bank like 4 days ago and they still havent replied. Does anyone know how long it takes for them to accept or deny the offer?...
  6. Offer made on a short sale house? I have been looking at houses for a couple of months and found a house that is a short sale. Through a real estate agent, I made an offer for exactly what they were asking. Does anyone have any suggestions, advice, or correct steps with trying to get a short...
  7. Does a new roof on a house increase the sale price of the house? I am selling a house and it needs a new roof. Will the new roof increase the value of the house enough for me to regain the cost of the roof?...
  8. Why would a house sale price be way more than the assessed value? I’m looking for a house and I’m still learning. The house I like is listed as 150,000 but its assessed value is 120,000…. I don’t understand that? Why would they list it 30,000 more than it is valued at?...
  9. The short sale house I made an offer on was delisted – does that mean the bank accepted the offer? I offered 13% less then the asking price which I was told by my agent the bank had been previously approved. I hadn’t heard that the bank had accepted my offer, but does this mean the bank has accepted my offer, or does the listing agent think they will? Does...
  10. If you offer less than what the buyer originally paid for a house, is that a short sale? I am looking at making a bid on a house in which the offer would be less than what the seller originally paid for the house. They paid 118,500 and are asking 125,900. It is appraised at around 100000. If I offered lower, would that be a short sale? Any...