I heard from my realtor that the appraisal was completed on 10/22/12. We have also signed a new addendum to extrend our contract till February. Our realtor really believes we should be able to close by January. My question is, after appraisal, how long does it take to close? I know that this I a real genereal question probably but we are hoping sooner than later. Als, our realtor just informed us there is a vague possiblity that our seller is thinking of backing out now. She said that he made the comment that he is starting to think that if Bank of America does not give him the relocation funds that he heard people were getting that he may just not sell. Very deppressing news. Especially since we have been at this contract and sale since Aug. 6th. And he just recently signed the extetion. We have already gotten shot down twice in the past. 1 decided to go into home mod after all after 4 months and 1 the appraisal came back to high and we could not agree. I think every house where I live is being SS by BoA too.
Oh, speaking of, just 1 more question to pick your colective brains, does anyone have any suggestions on how to negotiate with Bank of America on pricing if they come back to us with a counter offer? Or if we really do want the house should we just accept and move forward? We don't want to be ripped off but we don't want to lose another house!

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The agent should know if the seller is getting a relocation incentive or not especially if your this far along in the process.  The question to ask is if this is being reviewed under the HAFA program. In regards to your counter question it's important to take into consideration on what your offer is and the countered offer price. Also it's important to know if there is a minimum NET being required by the investor to approve the transaction. It's hard to know exactly how to counter back BOA unless you aware of the details of the transaction and the communication that has taken place. It is important to know that if you feel the offer is too high you can always counter back or keep your offer the same. It's hard to know the best way to proceed as we only speculating at this point in time.

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