Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on August 2, 2012 at 3:57am

Congrats!! Kudos on the perseverance.

Permalink Reply by Pattilynn Guilford on August 2, 2012 at 3:58am

It may have been an original CW loan and there is no logic for those.

Good job! Enjoy the payday...you certainly earned it by sticking with it and keeping the faith :)

Permalink Reply by Sylvia Barry on August 2, 2012 at 4:08am

Congratulations, Thom!  I had a similar one but not as many rounds as yours.  I don't even want to try to remember how much lower it ended up with comparing to the first all cash offer. 

Good thing is BofA has improved a lot since then.  Probably why yours was finally approved. 

Great Job on getting it done! 

Sylvia

Permalink Reply by Sara Pichelmann on August 2, 2012 at 4:41am

I find this intresting, here in AZ I had a BOFA one loan offer at 179,00 apprasial at 182,000 and BOFA countered at 160,000

 

I was floored...........it doesn't help hour comps, so i put it public remraks for others to see        

az realtor help

Permalink Reply by joe beauchamp on August 2, 2012 at 5:43am

You had me going, Thom, until you said you like working with the DMV..uh..BofA.. and then used the word "logic" in the same sentence. Oh you kidder...  Well, I haven't gotten to 1/2 your number of buyers - yet, got 1 working on it.. maybe.. I do get sellers who just say "forget it" after a while.

Can you imagine how all that BofA resource would be used if this made money for them and they actually wanted to do short sales? What if they actually looked at the history of properties to see this same patterm (and many of mine fit the same "you could have gotten 20% more with the buyer a year ago") and decided to try to maximize payout for their boss the investor? Actually do the job they are contracted to do. It would be amazing. They would ask for the authorization only instead of 10 documents before letting you talk to them (say as they did 2 yrs ago), they'd leave a reasonable amount of time for a buyer to respond to an absurd BofA counter of 50% over market - instead of 3 calendar days starting Thursday night (like they did 6 months ago), and on and on.

Wow, 10 buyers - do you own stock in Tums?

[I suspect that there is a BofA Gollum in the bowels of corporate swearing at you for getting this one through the maze - where is My Precious????]

Permalink Reply by Pattilynn Guilford on August 2, 2012 at 10:42am

lol

Permalink Reply by Thom Colby CA Brkr 888-391-5245 on August 2, 2012 at 5:51am

And, by the way, this started as a Traditional Short Sale, changed to HAFA by BofA, then to Co-op with DTS, back to Traditional, then to HAFA again, and closed as HAFA..........  my brain hurts :-)