First time homebuyer - Bank countered fees

Hi, everyone!  I was notified by my realtor today that BofA countered my offer - not the price, just a fee to be paid a closing.  Obviously, I accept!!  But my agent didn't have anything for me to sign.  Is this normal?  Should I be expecting to receive something in writing to provide to my lender?  Unfortunately, I had no idea what I was getting myself into when I started this process and I'm not sure my agent is very experienced with short sales.  I went ahead and scheduled an inspection but I'm wondering if I jumped the gun and should have waited for something in writing.

Thanks in advance!

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Replies to This Discussion

Permalink Reply by Jennifer on December 29, 2011 at 6:29am
Congrats! I had been wondering about your situation! Were there any issues, or did it just take awhile? As for my file being on hold, I hate to think this way, but I almost wonder if the LA is just saying that so that I will proceed with the appraisal. He wasn't thrilled that I wanted to wait. It's either that or there is something else going on that he's not being honest about. So far no one has been able to explain any sort of Equator deadline. Im really disheartened.
Permalink Reply by Noelia M on December 29, 2011 at 9:26am

I never got ANY details on our particular short sale. I am guessing there was some issues because it took a while from the time we accepted the counter until we got written approval. 

But I think you are doing the right thing on waiting to move forward with the appraisal! Stick to your guns until you get written approval. Good luck!

Permalink Reply by Doug McVinua on December 14, 2011 at 5:55am

Jennifer

It sounds like it is going to work out for you and you should prepare like you are planning to move forward without actually spending money.

Meet or contact the loan officer you are working with and make sure you provide them all documentation needed etc.

Decide on the Home Inspector you are going to use so when you get an approval you are ready to go.

Prepare as if you are going to move forward so that when you get the approval in writing you can move quickly.

Make a plan and prepare to execute once you get the approval in writing.

Doug in Phoenix, AZ

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