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Bank of America strikes again! This time a SHORT SALE MIRACLE I MUST SHARE!

By
Real Estate Agent with Keller Williams Advantage III Realty in Lake Nona BK3059813

Many of you have followed my blogs for a few weeks now regarding the many ways that BofA and their HAFA short sale team at AMS Servicing have managed to drag my short sale out for no less than 9 months nearly.

Finally after the 3rd extension, we were to close Aug 19th only to discover on Aug 18th that the BofA closing coordinator that was processing the final HUD accidentally closed the file.  Yes, I said after 8 months, SHE CLOSED THE FILE!

Now, the problem with HAFA is you just can't push a button and reopen it.  It is a complete start over.

Well if you don't think I lost it, this would be an understatement.

After phone calls all the way to the President's office in California, I finally was assigned the highest short sale escalation person at BofA.

She took this file on Thursday and that night and into Friday, we reopened the entire file into equator and went thru all the tasks over again.  Together we spent most of Friday on the phone and she told me that because of the personal financial situation of the client, this client's only benefit from HAFA over traditional was the $3000 in relocation money.

In order for BofA to make amends for the closures blatant error, they made a deal with my client.  They agreed to reduce the price by 10K to my buyers, and in exchange, my buyers would contribute the $3000 to the seller netting them an additional $7000 in savings in exchange for 2 more weeks and we would now do this as a traditional and she said we could completely do this from start to finish in 2 weeks.

Skeptical as you can believe, I did everything she asked and that was Monday Aug 22nd.  Tonight, she called me to say the file was approved and tomorrow we should be able to schedule closing for next week.

YES FOLKS, I SAID FROM START TO FINISH in 4 business days!

Not that I am not grateful, but it just seems so rediculous that we had to be put thru such trauma and drama for 9 months to only get the RIGHT PERSON to do the job in just 4 days.

So ask yourself, why do short sales have to take so long?  Answer, they don't with the right person. 

Now that I have met this person, she is permanently in my speed dial and just know that all situations are not the same, but if you are experiencing financial hardship or you even think you may be a short sale candidate, please call me today and we can discuss your particular situation and help you thru these difficult times.

Kevin B Tolbert, PA, GRI, CDPE

Keller Williams Realty of the Treasure Coast

819 S Federal Hwy Ste 300

Stuart, FL 34994

Office: 772-419-0400

Direct: 772-834-0099

Email: kbtolbert@gmail.com

Website: www.Kevintolbertrealty.com

Website: www.SearchforSouthFloridaHome.Com

My Blog: http://activerain.com/blogs/kbtolbert

 

Posted by

The Florida Tolbert Team, a division of Kevin B Tolbert Real Estate Network

Kevin B Tolbert PA

Accredited Land Consultant

Keller Williams Advantage III Realty

Keller Williams Land Division

Million Dollar Guild Award Certified Luxury Home Marketing Specialist

Certified International Property Specialist

Certified Distress Property Expert

BOLD Graduate X 16 Listing Specialist

9161 Narcoosee Rd, Suite 107

Orlando, FL 32827

Direct:  772-834-0099

Email:  fltolbertteam@gmail.com

To see all our local listings please goto www.kevinbtolbert.kw.Com.

To see all my blogs, please goto www.kevinbtolbertpa.com

 

Jon Quist
REALTY EXECUTIVES ARIZONA TERRITORY - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

Consider yourself and your client really lucky. And, yes, if you can, somehow, find your way to the top (of anything) they can and will fix the problem. Why, because they don't want the problem to bother them again.

Aug 25, 2011 05:12 PM
Susan Goulding
Crown Key Realty, Inc; Tracy & Mountain House Sales and Property Management - Tracy, CA
Northern CA - Tracy & Mountain House Real Estate

I've had BofA come through more than once.  BUT you have to get to the right person.  I just had them reopen a file in less than a week.  After the appraiser failed to appraise the property and told BofA he couldn't get access.  Which was ridiculous since there were no less than 3 lockboxes on the property that I personally put there so he could get in.  AUGH.

 

Congrats on your closing.

Aug 25, 2011 05:15 PM
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Good for you that it was resolved quickly, well, and to the benefit of all involved. So please, tell me this wonder-workers name!

Aug 25, 2011 06:13 PM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Congratulations on sticking out to the end! Your clients are lucky to have you on their side. And yes, short sales don't have to take 9 months.

Aug 25, 2011 06:15 PM
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist
Thank you jon but let's be clear... Lucky is doing it once. Good is repeating it Expert is achieving the same results often. My customers can hire an expert in me or get lucky with others. I do this because I love it and because I love helping others by sharing my knowledge and when you love your job that's just a bonus.
Sep 03, 2011 09:01 AM
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist

This one is just for the points.

Sep 11, 2012 11:48 AM