What you said is all possible. But there is nothing to lose for you to wait for what the bank will do. You can always walk away if the bank ask more than what you want to pay.
I recently contracted a short sale for my client. The market value for the house is around $290K. First the bank approved at our offer price $240K. The appraisal came out at $235K. The market is already up, but the appraiser was based on the old sales data. My client thought it is an opprotunity to bargain and asked the bank to reduce to $235K. However, the bank knows the trend and came back to ask $280K.
The lesson is that if you aleady get a very good deal, do not try to screeze for the last penny.
