BofA Counter Offer - Truly Dumb Question
This is a truly dumb question, but I'll ask anyway, 'cuz I am not sure what the proper procedure is.....
Short sale opened up on Equator. Offer uploaded. BofA negotiator entered counter office price on Equator.
What's the usual procedure from here? Should I put that price on a standard Counter Offer form and send it back to the negotiator for signature? Should I put the price on a Counter Offer form and send it to the buyer's agent unsigned?
Replies to This Discussion
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Permalink Reply by Steele V. Propp on
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Not a dumb question. This also comes up with REO properties.
It is common practice for the lender to give verbal counters. You give it to the buying side, usually verbally. The buyer can then accept or counter, just like always. The only thing that is missing is the paperwork going back and forth and causing delays. Once everything is agreed to, then get the agreed final copy signed by buyer and seller.
Just note that the negotiator on a short sale is not a party to the PA so they don't sign anything. They will give an approval letter once they get this final agreed PA. Providing they still agreeable to these terms :>)
Steele
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Permalink Reply by Wendy Smith on
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you also counter the counter, or accept the counter, via Equator.
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