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Press Release | Southwest Florida | Bank of America Short Sale Policy Change

By
Real Estate Agent with Keller Williams Elite Realty Broker BK3099912


From the Desk of Joe kendall, Broker Associate with Sandals Realty ( Short Sale Expert )

Press Release Florida | Fort Myers, Cape Coral, lehigh Acres, Bonita Springs and Naples Florida

 New Bank of America Short Sale Policy Change.

 Realtors now have  8 Days to Submit a Backup Offer! 

Bank of America has listened to feedback from Realtors over the last 6 months and have now agreed to a policy change to processing short sales.


If it becomes necessary to submit a backup offer during a short sale, Realtors now have a  window for making the submission within eight calendar days after the initial offer becomes invalid with out having to restart over the complete file..  

 

Any backup offer will require analysis by Bank of America and their investor approval, regardless how similar it may be to the previous offer. I have been able to get a quick reviews and answers normally within 45 days of the buyer walking away from the banks first approved price. 

 

If no backup offer is available:  Joe Kendall, Broker Associate with Sandals Realty will do the following