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Short Sale Equator.......

Posted by Juan Flores on May 5, 2010 at 6:23pm in Short Sale Discussions
 I need some help here.
Been working with this short sale for the past Year. Now with Equator. Im in the last phase to get actual approval. Problem is the buyer wants to walk away. The bank finally counter me back.
Question.

If buyers walks away. get approval can i switch buyer. or i need to re-submit the whole thing all over again.

I been told by short sale bank of america representatives need to re-submit the whole thing over again. How dumb is that. 

Is anyone going with this situation NOw..


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Replies

  • Bryant Tutas May 6, 2010 at 1:00am
    Juan it's unfortunate but BofA's approvals are buyer specific. You cannot just switch buyers. Unless you can get an exception. if you already have another buyer lined up at the same terms and conditions then try to reach a supervisor and see what they say.

    The good news is that the Equator system is proving (at least to me) to be very fast. My last two approvals came in less than 60 days.

    Just keep working it. Sometimes the 2nd buyer is a charm.
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