I have a home owner ready to list and it will be a short sale. Are most of you listing the home and initiating the file in Equator (bank of america) at the same time? So much of the instruction of Bank of America's website are geared toward me already having an offer when I open the file. AND...what if it gets HAFA approved, and I have already listed it at a price that conflicts with HAFA's appraised price? Do you all find it easier to submit the file first, before it is listing, or do it at the same time? Thanks!
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I have much better luck with an offer if I can advertise an approved short sale with approved list price. We have alot of non-short sale opportunities in NC, so why wait 3 months for a short sale? So, if I can tell potential Buyers that everything is ready to go for final approval with an offer, there is a better liklihood I will get that offer.
So, I list the home, but take it temporarily off the market - thus not actively soliciting buyers. The BPOer can see the listing information and can see the price I want. The BPO comes in at or near where I need it, then I pull the trigger and activate the listing. I submit the offer with the already approved HAFA or Co-op sale. We still end up waiting a long time, but it is better (for me) to at least have the wheels greased before I look for a Buyer.
At least that works better in my market. So many agents won't take their Buyers to non-approved short sale listings.
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