Insufficient offer through equator
I was trying to enter one of my short sales into equator and it came up with insufficient offer. I called BofA and was told that the last appraisal on the property was in October 2009. I've requested a new bpo twice now and no luck. Any suggestions on how to get them to run a new bpo? Should I submit the old fashioned method to see if that will trigger a new bpo?
Thanks!
Julie
Replies to This Discussion
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Permalink Reply by Lori Young on
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Call Bank of America and ask them to task you to upload a new offer on that address. You can also ask them to set up a short sale for you to accept. Good luck. Don't give up.
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Permalink Reply by Juan Reyes on
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it is a ridiculous system they have set up. If they are using a BPO that was done on the property 6 months ago in a declining market doesn't make sense.
I've had this happen to me as well, I had to increase the offer amount on that task until it accept it and then it opens up the regular task of submitting the offer which asks for the current list price, list date, and offer price. Then it will ask you to upload the offer documents, afterwards it will order new BPOs when it goes into the valuations stage. -
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Permalink Reply by Julie Finch on
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That's a great idea Juan, thanks! I appreciate the help...
Juan Reyes said:it is a ridiculous system they have set up. If they are using a BPO that was done on the property 6 months ago in a declining market doesn't make sense.
I've had this happen to me as well, I had to increase the offer amount on that task until it accept it and then it opens up the regular task of submitting the offer which asks for the current list price, list date, and offer price. Then it will ask you to upload the offer documents, afterwards it will order new BPOs when it goes into the valuations stage. -
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