Are Seller's Missing Opportunities to Sell?

I have a client who is interested in buying a new custom home in a well-known golf community N. Scottsdale. He has been trying to buy the same home now for 2 months.

Are Sellers (including Banks) missing the opportunities to sell now?

Here's the scenario....

• Client makes an offer to investment group well below list price; investment group declines.


• We find out the home is going into foreclosure; bank to take over on 1/28/08.


• Client offers for a 2nd time directly to the bank who now holds the note.


• Bank declines offer waiting for one that is closer to soon-to-be list price of $2.6 million.

My client offered $2 million for a property that allegedly was returned to the bank at $2,350,000. Is it worth the bank's time and money to disregard this offer and turn away a viable buyer? How long are they willing to wait?