sofy bark
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backup offer

Started Mar 11, 2012 0 Replies

any suggestions about back up offers...please contact meContinue

BACK UP OFFER

Started this discussion. Last reply by Jeff Payne Mar 14, 2012. 16 Replies

CAN SOMEBODY CONTACT ME REGARDING A BACKUP OFFER AND EQUATOR I DO NOT UNDERSTAND WHY BANK OF AMERICA IS STALLING THE SHORT SALEContinue

 

sofy bark's Page

Latest Activity

John Edelman left a comment for sofy bark
"what is your question?"
Sep 20, 2012
sofy bark posted a status
"any can answer my question please"
Sep 20, 2012
Jeff Payne commented on sofy bark's status
"Huh?  Who is trying to snatch a short sale?  I thought you were buying a foreclosure?"
May 14, 2012
Smitty commented on sofy bark's status
"Sofy please elaborate."
May 14, 2012
sofy bark posted a status
"How to snatch a short sale from being under contract"
May 14, 2012
sofy bark posted a status
"can a lender be present at appraisal?"
May 1, 2012
sofy bark posted a status
"anybody can answer some questions regarding underwriter. thank you"
Apr 30, 2012
Jeff Payne commented on sofy bark's status
"Sofy, I sent you a PM, what do you mean by predatory lending closing costs?  What closing costs are you referring to?  Your costs from obtaining a loan?"
Apr 18, 2012
sofy bark commented on sofy bark's status
"I made an offer on a bank owned condo the bank accepted the offer my question is how to have a good deal without any predatory lending closing cost. Thanks"
Apr 18, 2012
Jeff Payne commented on sofy bark's status
"Just sent you a message, need more information"
Apr 18, 2012
sofy bark posted a status
"hi jeff still waiting for your answer."
Apr 18, 2012
sofy bark posted a status
"need help with closing cost"
Apr 17, 2012
sofy bark posted a status
"Anyone can answer my question?"
Apr 14, 2012
sofy bark posted a status
"listing by the bank in the amount of 260k for a 2/2 1681 sqf condo i put an offer for 251 bank accepted is it a good deal?"
Apr 13, 2012
sofy bark posted a status
"Anybody understand the foreclosure"
Apr 13, 2012
Jeff Payne replied to sofy bark's discussion BACK UP OFFER
"Good point Smitty, those addenda are certainly not for our CYA.   Sofy, please keep in mind that the bank is not a party to the contract.  The contract is between the buyer and the seller and not the buyer and the bank.  The bank…"
Mar 14, 2012

Profile Information

First Name
sofy
Last Name
bark
Are you a...
Buyer
State
florida
City
fort lauderdale

Sofy bark's Blog

BOFA SHORT SALE DEPT

Posted on March 10, 2012 at 10:26am 7 Comments

ANYBODY FROM BOFA SHORT SALE PLEASE ..I NEED SOME CLARIFICATIONS.

THANKS

Comment Wall (6 comments)

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At 8:04pm on September 20, 2012, John Edelman said…

what is your question?

At 10:31am on March 12, 2012, Jeff Payne said…

Your offer is a back up and can not be submitted into equator until the first offer is declined and dead.  The bank does not own the property, your offer is between you and the seller.  The banks job is to release the lien and approve the short sale.  Remember that the seller can only sell to one person and that is the person that they are under contract with, the first buyer

At 10:21am on March 12, 2012, Jeff Payne said…

Sofy a soft decline is intended to be able to start essentially where ever the file left off, compared to a hard decline that closes the file and it has to start over.  There is not always a big difference depending on the negotiator at the bank

 

At 8:45am on March 12, 2012, Jeff Payne said…

It is because your offer was never submitted to the lender, it was held as a back up offer.  The bank does not know about your back up offer and does not care about it until the first offer is rejected or the short sale is soft declined.  You would want them to soft decline the first offer so that yours can be placed in without starting over.

 

At 5:20pm on March 11, 2012, Wendy Smith said…

you are the back up buyer?  who prepared your back up offer...listing agent?  buyers agent? 

At 2:42pm on March 11, 2012, Wendy Smith said…

hi Sofy, what's up?

 
 
 

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