On April 4th Bank of America countered our offer on a short sale, they didn't change the purchase price just some of the closing numbers.  We accepted this offer and then we were told that it was off to the investor for review.  After waiting weeks for an answer from the investor I was told that they countered again for an extra $144 yesterday that was a sewer tax they missed.  We accepted of course, they didn't even have to ask for that amount of money.  We are now told (again) that it is really off to the investor this time.  My question is why would bank of america still be holding the offer weeks after it was supposed to go to the investor and what kind of review would have raised a red flag to the sewer tax at this point?  Could the investor have actually found this in their review and had bank of america counter for them?  I thought I knew were I was in this process but now I am completely confused.  Any insight or similar experiences would be helpful.

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Who is the investor?

 

Bank of America is the servicer and I was told there is only one lien.  I looked on the MERS website and ran a search by the address which returned JP Morgan Chase and Specialized Loan Servicing.  I am not sure what that means but my guess is it is privately held.  There is also no PMI on this loan.

I agree, a negotiator told me since BOA closed the AZ office all the negotiators had an additional 200-250 files dumped on them along with all the files they were currently carrying - then the new hires have to get up to speed.  I had a an accepted counter and it was sent to the investor who denied the file and countered 50K higher - that is WAY off of what was "negotiated" before it was sent:(

Thank God they closed the AZ office. That was the worst office to deal with.

I guess so much for their quicker answers... I've never bought into their PR.

BofA is a mess, anyone here sell REO for BofA?   I have an REO account and out of the last 40 deals, one has closed on time.  They are a mess with Landsafe never having title ready.  Average close times are 60 days for a cash deal.  I can get a short sale cash deal APPROVED and CLOSED quicker than I can get one of my REO deals in escrow and closed.  

This is interesting.  I was very surprised with the price BOA countered at.  From these posts I expected a price that would be on the high side and in fact they countered pretty low in my opinion (both times).  Now I am thinking I have one of the newbie negotiators and the investor is going to be the one to counter and try to run the price up.  Just when you think you are coming down the home stretch they add a bunch of laps to the race.

xx

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