Bank of America Short Sales

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Comment by Vito Lotta 1 day ago

Has anyone worked a short sale where the buyer was a LLC company? My offer keeps getting rejected and everone I have spoken to at BofA gives me a different reason.

Comment by Brigitte Powell on August 31, 2010 at 3:56pm

Jeff :-) I have just read all of these posts from Bob......I am in agreement, he has nothing. If BoA accepted their offer PENDING the Seller's contribution of 14,000 cash at settlement? They still have nothing. I don't think anyone knows what they are doing. This whole thing sounds so bizarre. Last time I heard I understood that they recieved the contract signed by the Seller and were moving forward........but never one word yet that the offer was countered or accepted. I see now that it could possibly have been accepted PENDING the seller coming up with 14,000 at settlement and I imagine that is obviously not going to happen since the listing agent seems not to be communicating with the buyer's agent OR both agents want this one to go away :-)......sorry, couldn't resist.

Comment by Jeff Payne on August 31, 2010 at 3:09pm

Qualified Written Request, QWR

Comment by Jake Bowers on August 31, 2010 at 3:08pm

Quick, easy question for the experts: What is the official term for the letter written by the seller to the mortgage servicer to ask who actually hold the mortgage note, and if there is other mortgage insurance on the loan? Thanks in advance!

Comment by Jeff Payne on August 31, 2010 at 2:43pm

Bob, with all due respect, this is one of the most bizarre stories that I have come across in a long time and I work short sales everyday :) If the seller does not agree to pay the $14,000, then you really have nothing. I am really having a hard time understanding why you do not have signed documents in front of you. If there is an approval from BofA, why has that not been provided to you by the listing agent? Everything that the listing agent has been doing or telling you seems like bizarro world. I am not sure why your agent has not gone directly to the broker that is in charge and circumvented the listing agent to get some real answers.

Comment by Bob A Gare on August 31, 2010 at 2:36pm

I'm with you Jeff I want to see a copy too. We forgot to ask when we were signing the extension last week. I know it makes no sense that BoA contacted her agent just to let him know they will contact him later. We never believe anything that he does say when he finally speaks.

Comment by Bob A Gare on August 31, 2010 at 2:27pm

My wife told our agent she would sign an extension when he finally lets us back in the house. I told her yes we need to get back in the house but I'm not signing a 2 month extension 1 week after we just extended another month. After all his ignoring all our question and request, I'm not jumping for him just because his feet have been put to the fire. Now he can wait for us. I want to wait until we are just with in the time frame the rules allow. Signing an extension this early isn't going to get the closing date any closer if at all. Extending another 2 months this far ahead of our last, extension will just give him more time to keep dragging his a$$.

Comment by Jeff Payne on August 31, 2010 at 2:20pm

I would be interested in seeing the signed acceptance, is there a way for you to white out all of the personal info and send it to me? This might help to shed some light on things :) If the seller won't pay the $14K, then you really do not have acceptance.
Jeff

Comment by Bob A Gare on August 31, 2010 at 2:12pm

My wife said or agent does finally have the signed acceptance. But they won't set a closing until they get their $14k from the seller. The seller has received a few notices that she had to be out by 9/1 the auction was set for 9/13. After my wife called Boa and they told her we should have already closed all our numbers were good. As BoA checked further the realized they have had no contact from the seller or her agent. The have since canceled the auction and it is back on MLS but not on any real estate sites. It just has one picture and says pending.

Comment by Jeff Payne on August 31, 2010 at 2:05pm

BoA contacted the agent to tell him that they were contacting him this week? Huh? Is the seller in agreement to extend the contract? I do apologize, please forgive me, but remind me, do you have a copy of signed contract that is still valid? The part that I get really confused about is the use of the word "bid", are there other offers that you are competing against? Since you got to speak with the agent, did you get access to the property?

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