Bank of America is not very sensible or logical..duh.  This one is a real doozey to understand, and it's best not to try.  Just accept it..

Listed in Laguna Niguel, over 1 year ago.  Original LP of $1,050,000.  One Note.  Investor:  B of A

Offer 1:  $850,000.  B of A responded..too low.  Increased price to $865,000.  Buyer walked.

Offer 2:  $865,000.  For some reason this negotiator took forever to get back to me at all, and Buyer got tired and walked.

Offer 3:  $865,000.  Approved for a close 3/15/12.  Buyer getting a conventional loan.  Buyers Lender appraised it at $825,000.  Buyer walked.

Offer 4:  $865,000 with a conventional loan.  B of A says "file is aged.", cannot substitute Buyer (had one in 48 hours), and closed the file.  Ordered a new appraisal.  Appraisal came in at $1,050,000!!!  The appraiser used outside comps.  I escalated and submitted 3 comps within the same neighborhood that fully supported this offer.  B of A counters us at $925,000. 

Lender for new Buyers does a full appraisal and it comes in at $865,000-$875,000.  We re-submit the appraisal with comps. Almost 5 weeks later, daily calls, daily equator notes, I am told it's going in for "investor Review." 

Approval letter received:  Tuesday of this week!!!  Great news and so glad this one might be over..yippee!  Approved price?????  $865,000.  So I'm just wondering how the "investors that were reviewing." finally came to the conclusion that it WAS only worth this amount?  They net less now after tax increases.  Just reinforces the full knowledge that it is not about money.  NO matter what I read about B of A.  It is still a total crap shoot whether they will accept a reasonable FMV offer or not.

Good news???  It's almost OVER!