"Good news!
I done with this short sale!
Seller Realtor, sucked and I found even better deal with other property and it's not SS.
Now this property is re-listed back in market:) and wait for it to foreclose.
-Tejas
"
tejas's Discussions
BOA/Equator Counter Offer too High short sale
Started this discussion. Last reply by tejas Jan 17. 30 Replies 0 Likes
I received a counter offer from BOA/Equator system about 25% more than offer price. The home is not in good condition and needs a lot of fix around 25K. I am sure BPO doesn't take into account all…Continue
tejas's Page
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Donna McClelland replied to tejas's discussion BOA/Equator Counter Offer too High short sale"Hi Tejas,
I always have my buyers do their inspections up front for just this reason. If they had already done their inspection, they could simply submit the inspection report to BofA. I had this exact scenario once where the bank wanted…"
Kim Kaplan replied to tejas's discussion BOA/Equator Counter Offer too High short sale"hello tejas. kindly contact me. i have been invited to join a special task force that allows me to escalate files that results in approvals withing a within a within for approvals such as your issue. kim@kimkaplan.com. …"
Marcy Moyer replied to tejas's discussion BOA/Equator Counter Offer too High short sale"I know it is very frustrating for buyers not to be able to speak to the bank directly when they are the ultimate decision makers. I can tell you though, that as a short sale listing agent I am more willing to give as much info as I can to a buyer…"
Jeff Payne replied to tejas's discussion BOA/Equator Counter Offer too High short sale"Who escalated to his manager? The bank negotiator?
No you can not speak to his manager because you are not authorized to do so. Remember the short sale side is the sellers side and the bank has to decide if the seller qualifies for a short…"
tejas replied to tejas's discussion BOA/Equator Counter Offer too High short sale"He already escalated to his Manager,
Guess now
I can't speak to his Manager,
I can't speak to seller relator
I can't speak to Bank
I can't speak to BPO
All access to information is closed, Is this how one buys home?
-Tejas"
tejas replied to Jeff Payne's discussion Just an observation from what actual short sale sellers and buyers are asking on Short Sale Superstars"Agree with above,
Those agents out their sucks, I have seller Realtor (Specialty: Short Sale) , doesn't even know to save a PDF and send.
I thought buying house was suppose to be simple any chump could do it. Now, I completely change my mind.…"
Jeff Payne replied to tejas's discussion BOA/Equator Counter Offer too High short sale"I disagree, the sellers agent does not get paid either if this does not close so so why would you think they have no incentive? What BPO comps do you want the sellers Realtor to send, they don't have access to the BPO? Did your…"
Jeff Payne replied to tejas's discussion BOA/Equator Counter Offer too High short sale"They don't charge you for that, they charge the sellers lender for it. Where is your agent? What does your agent think the value is? Do you have a number that is the most you are willing to pay?"
tejas replied to tejas's discussion BOA/Equator Counter Offer too High short sale"So you mean they will charge me for that,
But I won't be able to see how they came up with FMV?
-Tejas"
tejas replied to tejas's discussion BOA/Equator Counter Offer too High short sale"Thx moving on is always an option.
But I darn give a fight before it's over, By Lazy I mean the seller Realtor has no incentive to send BPO Comps, photos etc. She is just saying what the BPO guy is saying. I am sure it will end up in a…"
Kevin - Greenville, SC replied to tejas's discussion BOA/Equator Counter Offer too High short sale"In most cases you'll find it's been charged to the loan."
Jeff Payne replied to tejas's discussion BOA/Equator Counter Offer too High short sale"Nope, it is not your BPO, the bank paid for it and they most likely will never give it to you. Your agent needs to be helping you here, they have the same information that the BPO agent got the information from. What does your agent say?
Not even…"
Jeff Payne replied to tejas's discussion BOA/Equator Counter Offer too High short sale"Your realtor should be able to help you determine FMV, of course it may be different than what the bank thinks it is. Make your counter at what you are willing to pay and if they don't take it you may have to move on."
tejas replied to tejas's discussion BOA/Equator Counter Offer too High short sale"Also as I buyer do I have an rights to information? Can I contact the BPO or how can I get further information as to calculation of FMV? or sending them more details?
Sometimes there is all the incentive of realtors on either to be lazy?
-Tejas"
tejas replied to tejas's discussion BOA/Equator Counter Offer too High short sale"Got email from BOA,
They said they would decline the offer, if it's not matching Fair Market Value?
Now how to find the Fair Market Value of a property?
-Tejas"
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