Comment

Comment by Leslie Kunkel on July 3, 2012 at 2:51am

Mine is too, Wendy!

Comment by Wendy Rulnick on July 3, 2012 at 2:43am

Interesting, Leslie!  Mine was with BOFA....

Comment by Leslie Kunkel on July 3, 2012 at 2:37am

Wendy, I just had the same experience with my coop. The negotiator simply said let me take care of it. This is with the National Default Service.

Comment by Wendy Rulnick on July 3, 2012 at 2:06am

Amazingly, I just got a cancellation of a foreclosure sale for a Freeport Florida investor property on July 6 for a Bank of America listing with no offer. We had entered it into the coop program about three months ago. No action had been taken on the file other than an appraisal (with no result yet) and a negotiator assigned in Equator who asked me about the appraisal. I simply requested the foreclosure be stopped, and he asked, and they did it!

Comment by Stephanie Hart CA 310-930-2342 on June 29, 2012 at 5:23am

I just had a buyer walk after waiting it out 7 months (not my buyer). We're evicting a tenant and had the motion the week he walked... Just felt it had to many bad associations?!?! We replaced the buyer within 24 hours but still have a set back. It's the name of the game and at least we won our case, who hoo!

Comment by Deidre St. Romain on June 29, 2012 at 5:23am

Bravo Rochelle!  You are so right.  Often the next buyer is better anyway and it never helps you or your Seller to get all worked up about it - just move on!!

Comment by Rochelle Castro on June 29, 2012 at 5:03am

Julissa:  I think all agents who do SS, we have all been there at one time or another.

As far as your buyer walking, so be it, good riddens! I don't have any respect for agents who can't control their buyers, or bring on flaky buyers.  One day after getting an approval, found out buyer didn't qualify.  My bad, for not protecting my seller.  Broker Bryant has some excellent advice on this site, regarding this, be sure to check it out. The following day after the buyer walked, I got a cash offer on my listing.  As long as you don't have a sale date coming up pretty soon, you will find another buyer.  Even after all the training we get, every ss is different, learn whatever lesson you have to lear, and move on to the next!

Comment by joe beauchamp on June 28, 2012 at 6:20pm

I think it is pretty much a combination of things. BofA is huge - you see the complaints that homeowners are being contacted by DIL and loan mod while they are actively trying a short sale - I think some of this is on purpose (how do you NOT know what is going on with a file unless you keep separate books, eh?). Anyway, their Catch-22 style huge company - overgrown oaf - is part of it.

The work load is very high - not that they couldn't hire more people (look at the want ads, do you see them asking for negotiators, etc? not often and they have hundreds?) seems like top corp has engineered this overload - but that affects you, too.

Another factor, which I sometimes see from the other side, is (to me) a title company asking for insane things - you bend over for them then they come back with another - then another. I'd guess that if you have to pass on 1 mistake HUD-1 to them, they jump (OK, relatively, like on the moon in slo-mo) on it, but after that, they see you as the person that is going to waste their week and they have 15 zillion files waiting for them - so they slack off.

Then, back to the 1st point, they have committees on committees and depts not to be bypassed and throw their weight around by showing that they can't be hurried for the likes of this negotiator or you <sigh>.

I try to be as friendly as possible with my contact - most of the time that keeps things cool or helps, other times the neanderthal on the other end of the phone sees humanity as a bane on this world and it doesn't help. Makes me wonder how they trained that monkey to pick up the phone and hold it to his head..??   But, if they are trying to get the approval, that isn't your problem..

Comment by Tni LeBlanc (805) 878-9879 on June 28, 2012 at 5:13pm

Six hours of revisions on a HUD that a VP approved?   You gotta love that...  No offense, I can't decide whether I dislike BofA or your buyer more.  Is the Queen of Sheba buying this home?  You are slaying dragons to get this deal done...no appreciation.  I know everyone has to draw their line in the sand, but you are so close.  Hope it comes together...

Comment by Julissa Jumper on June 28, 2012 at 4:06pm

Well, we didn't close today. The negotiator kept requesting changes to the HUD in parts. I don't know who is reviewing this HUD but it takes me all of 5 minutes to review a HUD. This morning it took them over the course of 6 hours to tell me what they wanted changed on the HUD, one piece at a time! How painful. At 2pm. The negotiator went dead and stopped communicating with myself and the attorney's office. This, after she told me we would get final closing approval today. The buyer walks tomorrow!

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