BofA/Equator Closed File - Should we try it again?
We are buyers trying to purchase a short sale with BofA the one and only lienholder. Sellers, at first tried Home Modification but they were unable to fulfill because of loss of job, so they canceled Home Modification. They then put the home up for sale, listed for $299. Sellers accepted our offer after a bidding war for $311 and took it through Equator for BofA approval. Bank performed BPO and countered our offer for $330. To quit haggling, we accepted their offer. One day latter, the Equator system rejected our acceptance of their own counteroffer and closed out the file. According to listing agent, there is no explanation for it, the file just no longer appears in the equator system so they have no way of contacting the asset manager.
The listing agent has re-initiated everything in Equator but......Is it worth us sticking it out? What is the likelihood this will go through this time around?
Replies to This Discussion
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Permalink Reply by Michael Davis on
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The agent needs to escalate the deal with BOA Management. Much of that contact information is available on Equator particularly if you are willing to hang in there to try to get the deal done.
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Permalink Reply by CJ Wright on
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If you want the house, I'd say yes, it's worth it. May have been a fluke of some kind, or it may have been tasks that took to long and you ran out of time. Either way, Do what Michael said, or just start fresh. Yes, it's worth it.
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Permalink Reply by Lori Young on
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My experiance with Equator and BOA would be "yes" try again. New offer, new day. Things change daily.
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