BOA is declining short sale file due to the fact that they could NOT find the address on active status on ZILLOW ?????? I have send the MLS and history showing a continious marketing on the MLS directly from our MLS system. BOA "complaince department" says that those MLS are NOT acceptable they have to go to what the public site is showing. Is BOA for real? Please help! I am loosing my cool here...
Thanks for all your help in advance,
Wanda Martinez
850-596-1205
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Well here are the results..... BOA wants to put the home back on the market and get another buyer that comes later on but no warranties thou!!!
BOA (vice-president's office) said if the buyer comes from 3rd parties even better !!! How in the world can i document where the buyer comes from other than what they tell me or their agent tells me.
Old buyer is interested in exposing them to the media 20/20 cases. I think this will spread . Yeahhhhhhh
Good news, the vice-president escalation team Ms. Gonzalez is trying to help wrap this up so she has made offer to take the next offer directly into her care... WILL SEE !
We will keep you updated,
Wanda
You must be joking! I have officially heard it all.
Hello Kathy,
You and me both; let me tell you!
Check on Realtor.com and Trulia.com. Zillow may not be accurate on their updates.
Olga Cooper
They (BOA) probably didn't even look-LOL !!!
Hey Brady I think you are right :)))))
I can see the banks using third-party sources to verify the information that an agent has given them. It wouldn't be hard for an agent to doctor MLS data to make it appear like the home was actually on the market. In our MLS the Back-Up status is treated like an Active status on Realtor.com so it will continue to receive exposure while we're waiting for the approval. And I believe other sites treat it the same way. Give Bank of America something they can verify independently on a website and you should be able to get an approval. Agents who hide the listing from other agents in the hopes they can sell it themselves are hurting the entire industry by making the Banks go to extra effort to verify whether or not the property was actually on the open market.
Thank you for your insight Meli. I could see that too, if the sites were at least 98% accurate and BOA was willing to give a declination letter with that same answer and not just declined by "other". I know there something else behind that answer b/c the offer is cash and only a few thousand under appraised value. The conditions of the home has been going down since it home has black mold and mildew on 1st floor going into 2nd and all 3A/C units had been stolen (police reports filed with BOA and pics send ) . Our first offer was $1MM 2 yrs. ago and b/c it appraised at $1.15MM BOA declined as well. And here we are!!!
Although everything you have said it could be possible and in my 24 yrs of experience I have seen it happened but it is also againt the law and ethics. Sorry, your market had have that experience; our is small market so not so much yet.... However, the buyer is not mine and neither the agent is from our office at all. So the scenario doesnt fit at all.
Also, why do they have 2 BPO's and 2 appraisals done anyways?
Thanks again Meli for your time!
It is such a broken system. Does anyone ever listen to suggestions from the pros in the field, like us?
This is why BofA needs to hire a team of short sale pros to straiten them out! If you already had the buyer than what difference would it make that it wasn't on Zillow? Can any of you tell me the last time you sold a home because of a Zillow ad/inquiry? Puh-leeeze!!
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