Claudia Pearson
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Claudia Pearson replied to Jim Stewart's discussion Multiple offers in the group Equator (formerly REOTrans)
"You are correct that as communicated by BofA to the seller or his agent, the counter would be a counter to the seller's offer to release the encumberance, but when the seller communicates the BofA counter-offer to the buyer, it is both a…"
Feb 25, 2010
Claudia Pearson replied to Jim Stewart's discussion Multiple offers in the group Equator (formerly REOTrans)
"Well I guess the moral of the story is to not execute a second "back up" contract. Moreover, based on what you all have said, even though the seller might think they have another buyer bound to a contract, if the buyer can't enforce…"
Feb 24, 2010
Claudia Pearson replied to Jim Stewart's discussion Multiple offers in the group Equator (formerly REOTrans)
"It is the seller who is attempting to obtain a release of the encumbrance, so I would disagree. The "counter offer" made by the lender is to the seller, so it would not be buyer specific. It is the sellers who are in a contractual…"
Feb 24, 2010
Claudia Pearson replied to Jim Stewart's discussion Multiple offers in the group Equator (formerly REOTrans)
""Perhaps you can give us some clarification (OK, give me clarification) on your scenario. What do you mean by "rejected" offer? Simply a counter? Because as long that seller counter is out there the first buyer could accept. If the…"
Feb 24, 2010
Claudia Pearson replied to Jim Stewart's discussion Multiple offers in the group Equator (formerly REOTrans)
"Funny thing is that the agent did have to start the process all over again with the newly executed contract between the initial buyers and the sellers. To me if the "backup" was a fully executed contract, it would make more sense legally…"
Feb 24, 2010
Claudia Pearson replied to Makoto Sato's discussion If SS approved by BofA and I have a buyer with a much higher offer, does homeowner have to take the lower approved offer? in the group Bank of America Short Sales
"So if you have an executed back up contract, once the bank rejects the first contract and the first buyers reject the bank's counter offer, at that point not only is it okay to submit the second contract to the negotiator, but wouldn't the…"
Feb 24, 2010
Claudia Pearson joined Wendy Rulnick's group
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Bank of America Short Sales

This group is for information, tips and solutions for Bank of America Short Sales.  See More
Feb 24, 2010
Claudia Pearson replied to Jim Stewart's discussion Multiple offers in the group Equator (formerly REOTrans)
"Seems to me there would be a difference between a back up "offer" and a fully executed back up "contract" with a second buyer."
Feb 24, 2010
Claudia Pearson replied to Jim Stewart's discussion Multiple offers in the group Equator (formerly REOTrans)
"It might be wise. The seller is wanting to get out from under the debt, and the bank wants as much $$ as it can get, so how could introducing the additional offer/buyer impact that negatively, especially if the backup contract price is higher than…"
Feb 23, 2010
Claudia Pearson replied to Jim Stewart's discussion Multiple offers in the group Equator (formerly REOTrans)
"What does "fully rejected" mean? Once the bank has rejected the first contract, and made a counter offer which the first buyer rejected, isn't the seller then obligated under the signed "back up" contract?"
Feb 23, 2010
Claudia Pearson replied to Jim Stewart's discussion Multiple offers in the group Equator (formerly REOTrans)
"Once the first offer is rejected, doesn't that obligate the seller to the "back-up" contract unless/until it too is rejected?"
Feb 23, 2010
Claudia Pearson replied to Gabriela Benitez-Hanson's discussion Does anyone know a quick way to switch offers on Equator? in the group Equator (formerly REOTrans)
"I was in back-up, but the first offer has already been rejected, and the seller's agent seems to be refusing to submit our offer to the negotiator/BoA. Not only that, but BoA made a counter offer which the first buyer has also rejected, but…"
Feb 23, 2010
Claudia Pearson replied to Gabriela Benitez-Hanson's discussion Does anyone know a quick way to switch offers on Equator? in the group Equator (formerly REOTrans)
"I'm the potential buyer in the #2 spot. How do I get the seller's agent to do this?"
Feb 23, 2010
Claudia Pearson is now a member of Short Sale Superstars
Feb 23, 2010
Claudia Pearson joined Bryant Tutas's group
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Equator (formerly REOTrans)

Here's a group for us to share info about muddling through Equator.See More
Feb 23, 2010

Profile Information

First Name
Claudia
Last Name
Pearson
State
Alabama
City
Birmingham

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