This is a rave: this morning, I attended the closing of a house I listed just 34 days ago!
Everything on this transaction went smooth as silk. I received a referral from Keller Williams in Coeur d'Alene, Idaho for a short sale listing.
I met with the sellers, who had to have been some of the nicest people I have ever worked with. We had showings immediately and multiple offers and best of all, the best offer was a cash offer with a quick closing. Once the offer was submitted to the bank (GMAC), I had a call from the agent that would be doing the BPO within one day. The BPO was back at the bank within a couple of days and I was notified that the negotiator had the offer and BPO and that I could expect a response within 7-10 business days. I was thoroughly delighted with that turnaround as I had just endured a protracted, months long process with a different bank (that shall remain nameless). Lo and behold! I received an email from the bank (the same day I was told it would be 7-10 business days) that I had approval!
My faith in banks has been temporarily restored. The process doesn't HAVE to hurt, people don't have to grow impatient and threaten to walk, repeated calls DON'T have to be made. A hearty thank you goes to GMAC for the incredible way they handled this transaction, to the agent that performed the BPO in a timely fashion, to the sellers for being so awesome to work with and to the agent that referred the great clients!-------------------