BOFA SHORT SALE ...4 Months and Counting

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Real Estate Agent with Chase International 01366299

BOFA Short Sale is now working it's way to a 4th month mark.  Just heard that we have been moved from one stage to "Valuations"....  Does this mean we are close?  If only the system was a bit easier, more hands on.....  Less computerized, our sales would begin to flow and sellers could find closure.

I heard a rumor things were going to start moving quicker and more efficient.  Instead, we are frustrating our sellers, and watching our buyers walk away, only to say "I will wait until next year".....  But.... Mr. Buyer.....Don't Go.... I know it will close".....  But still No word! 

Of course, I am not even sure what that means....Valuations?  Is that like an appraisal?  Gosh it's only the 4th one!  Of course, if we wait 4 months to close the market will have changed!  We really need to get some Real Estate Agents working on the bank side of things....  maybe we will start to see some results!

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Ambassador
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Susan Goulding
Crown Key Realty, Tracy & Mountain House Real Estate - Tracy, CA
Northern CA - Tracy & Mountain House Real Estate

You don't even want to know what BofA did with my short sale after 8 months.  Instead of answering the counter offer in Equator they "Accidently" deleted it and denied the short sale.... WHAT?  Yep they told us we didn't meet the deadline to response.  Well, we did and when we questioned them they found our "response".  BUT guess what happens NOW -- We STILL have to start all over - from the beginning.

 

First approval ends 9/25.... this should be over... Good Luck.

Sep 01, 2010 07:11 PM #1
Rainmaker
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Kimberly Moore
Chase International - South Lake Tahoe, CA
Why Settle For Less When You Can Have Moore

WOW!  Now that is frustrating to say the least!  Did it close?

Sep 01, 2010 07:24 PM #2
Ambassador
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Michelle Carr-Crowe Just Call 408-252-8900 Top 1%!
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

Lots of craziness out there. Valuations is a good step, and yes that means they are getting a BPO and/or going over the offer.

Sep 01, 2010 08:24 PM #3
Rainer
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Troy Funk
Allison James Estates & Homes, Sarasota 941-957-3737 - Sarasota, FL
Broker / Associate

Sorry to hear this ... I had responces back within a month on mine through Equator (however it is important that the sell work quickly as well).

Sep 02, 2010 12:12 AM #4
Anonymous
Jeanette Broderick

We are engaged in a short sale with BoA and the realtor said it is in the valuation phase. They had an offer just a month before ours, so perhaps they're not doing a BPO again but are looking over the offer instead? I am such a hopeful person, aren't I?? Does anyone have any idea as to how long a closing takes place once it's in the valuation stage at BoA (or anywhere else?), assuming everything is a go and there are no problems?

Many thanks for your time.

Jan 24, 2011 01:33 PM #5
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Rainmaker
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Kimberly Moore

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