We are the buyer and we offered 1k more than list. BoA came back 22k more so we countered back at only 11K more than list. It's been 15 business days and still nothing. Anyone have a experience w/ counters to BoA. I'm wondering the length of time to expect an answer. Also if they dont like our counter will they counter back, completely decline, or say that the 22k more is the only price they'll take. The list price was good compared to the comps, there is a 2nd mortage also w/ BoA though, not sure if seller had PMI. This site has really helped me learn more, thanks for everyones help!

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You will get plenty of replies on this one!!!!
B of A is not quick to respond. I assume you are working with a Realtor and she or he will guide you and will make sure she stays on top of follow through.

I typically have the slowest response from B of A and if I were you I would find out if they do have PMI because that has been my biggest BEAR in most of my declines. The fact that they are over list is not that unusual. I have had that happen a few times. In some cases the bank has allowed me to dispute the BPO and taken my comps into consideration.

I am hoping that yours will be fine but I just had a year long short sale go to auction because they took so long and the fees made the bank ask for far more than market value would allow. The sad thing is that when it goes back on the market as a foreclosure the bank will loose. Hopefully things will get better for all of us with short sales and at the very least we will be such touch cookies when it is over.

I vote they make doing short sales an Olympic event!!!!! Best of luck to you and I am hoping that you get your home.
Thank you so much for your reply! If anyone else has had experience w/ BoA coutners I'd love to hear more!
Jerry, I have the same issue, they countered we countered back and met them half way, now my file has been pushed to the SVP for final approval, its been over 15 days as well, I was able to get his email and phone #, but when you call him his admin, doesn't give you anything? It really frustrating to be so close but so far away. I wil keep you posted. I want to send him an email, but dont want to frustrate him
Keep me posted!

Ronnie Ahmad said:
Jerry, I have the same issue, they countered we countered back and met them half way, now my file has been pushed to the SVP for final approval, its been over 15 days as well, I was able to get his email and phone #, but when you call him his admin, doesn't give you anything? It really frustrating to be so close but so far away. I wil keep you posted. I want to send him an email, but dont want to frustrate him
We had a transaction with BOA where they countered in October, 2009, and we were able to give them exactly what they asked for. We received the approval March 9, 2010, so still took forever to accept. We had to call on a daily basis until we could get someone to call us back. BOA not easy to deal with.
My experience with only one sale is that BofA took between 5 and 7 working days to respond to a counter offer. I think almost the entire time was taken going back to FHA (seller had FHA loan). I think the length of time is mostly with MI or the investor (first and second liens).

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