re: Got an offer on my house....but below value of mortgage balance, feedback needed

This is of course a decision that ultimately only you can make.

However you have either a rent payment or mortgage payment that you are paying now, plus the one on the house you are asking about. THe big question is how long could you continue to pay the note on the house waiting for something better to come along? Yes you could get more money perhaps later, but if you can get the offer up 5K where you are short 5K at closing, you would have to consider it. However a few other considerations are you will owe the 5K at closing, plus realtor commission, so you need to make sure you have the funds to pay at closing if you take the offer.