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10 Comments on San Jose Short Sale Agents - Close a BofA FHA Short Sale - A Long and Winding Road
Kathleen,
You deserve and get my prayers for the kind of patience required for the short sale process! g
Kathleen, you are definitely one dedicated soul. Patience IS a virtue.
Gordon, Thank you. I need all the prayer I can get. There are times I fall to my knees and fully surrender ... asking for guidance and strength! I always get what I need to carry on ... your support is greatly appreciated. Thanks again!
John, I plug in my patience port every evening to ensure I am fully charged each new day. Believe me ... some days are better than others. It is very stressful and yet I enjoy bringing the gift of foreclosure avoidance to my clients. Thanks for your kind words!
Kathleen, Two of my listings went into foreclosure...one is being auctioned the end of this month. The other is with Wells Fargo, and I can not get the seller to sign the authorization letter for me to speak to Wells Fargo. I had a contract submitted with the HUD sheet and other docs, but unless I have an authorization from the owner, they will not talk to me....this is just sooo ridiculous. I really do not like short sales/foreclosures.
Kathleen
If things go right this time, my one-year BOA short sale will finally close next month, after 4 buyers walked away (couldn't wait). The 5th one is hanging in there, but we also had to negotiate and counter the bank twice. I had to keep sending info on actual sales in the building that very easily justified why the bank's counteroffer isn't good, Some of those were regular sales at LESS than what the bank countered. If BOA continued to insist on their higher price, then they might as well foreclose because no one will pay that price and wait 3-6 agonizing months to close.
I am still curious why and how BOA keeps picking agents to do BPOs on properties in areas they know nothing about!
Kathleen, I try VERY hard to steer away from listing short sales, as I have heard from many of my Realtor friends, if you get a B of A short sale, plan on 12+ months! Too much brain damage!
Pacita, Clearly you know the pain and frustration in working BofA short sales. We were countered as well. Price increased $5,000. Then BofA decided they wanted to do another appraisal. Appraisal came back $5,000 less ... bringing us right back to where we were before the counter. It's absolutely insane. Bank of America has not figured it out yet. The FHA short sale department is the biggest joke of all! I will say a BofA Prayer for you and the file. I suggest you get an appraisal yourself and send it to BofA. They can't sell it for more than the appraised value. I have learned that $350 for an appraisal buys the proof to help end the madness!
Joan, Brain Damage is right. I believe that is what is causing the rapid growth of gray hair! Hopefully if the new single point of contact process does take effect in October, things will improve some. Working with one person versus 20-30 people should create improvement. At a minimum, more accountability for the person managing the file will be there. There won't be anyone else to blame for things not getting done!
Kathleen, WTG for hanging in there to help a short sale actually close. Proof, you have the experience and knowledge to handle a short sale in San Jose.
Now, have you bought any stock, lately? I'm thinking L'oreal might be a good bet - particularly for all of the short sale agents out there - we can sure buy up those products for all the grays, LOL.