Today, a representative from Bank of America called to let me know that they would accept the short sale offer on a property that we had listed. GREAT!!!!
Problem No. 1 We listed the property last July at $314,900. And canceled the listing in early January.
Problem No. 2We got a nearly full price offer which they sat on for 3 months. The buyer and the backup buyer went away.
Problem No. 3 They now own the property that they are willing to accept a short sale on nearly nine months after it was tendered.
Their explanation is that they have "had a lot of turnover." We hounded them at least three times a week for three months. Hmmm.....
The only explanation is that they couldn't run a business with an instruction manual. And, we, the stakeholders in their business, should have some say.
They are trying to short sale an asset they already own....and will net nearly one-third less in this marke than hey could have obtained last fall. We have trired to get our legislators to listen but they politely brush us off. We have tried to get the media to get the message out, but to no avail. When is the public going to be so incensed with this stupidity that we get some action? Please let me know when you hear from someone, anyone.........Until then catch me with Broker Bryant, we'll be fishing.
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