I am the Broker of Help-U-Sell Golden Hills Realty in Sonora, California and specialize in residential real estate. I've been working with Short Sales since 2006 and this year obtained my Certified Short Sale Professional designation.
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This is BofA, right? Is this a countrywide division?
I have gone back and reviewed a few of our BofA letters both from CW and non-CW on first liens.
All our letters say:
12. Other: All funds must be wired. Any other form of payment of funds will be returned.
Payoff funds must be received within 48 business hours of the HUD-1 settlement date.
From what I know, the closing/recording date is what's important to them, because that is how they calculate all the pro-rations etc. Also, they always ask for funds to be wired, whereby you would have a wire confirmation the same day.
Are you seeing something different on your demand letter that I am missing?
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