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Has the valuation been done on the property? You won't hear anything unless the valuation has been done. Bank of America can be smooth or a complete nightmare from my personal experience. It depends on the file, negotiatior, the investor, etc.
After the valuation, you will likely have a counter or acceptance. Most every file I've worked on was a counter. We did have one complete rejection, but this was before Equator. The rejection was good though because it allowed us to see what they wanted to NET which was a number that the buyer could work with.
Try to see if you can get updates from the listing agent if at all possible. They should be able to update you on the file and let you know where it's at in the process. This will give you SOME indication of how long your wait time may be, but obviously there is never a guarantee in short sales.
Has the valuation been done on the property? You won't hear anything unless the valuation has been done. Bank of America can be smooth or a complete nightmare from my personal experience. It depends on the file, negotiatior, the investor, etc.
After the valuation, you will likely have a counter or acceptance. Most every file I've worked on was a counter. We did have one complete rejection, but this was before Equator. The rejection was good though because it allowed us to see what they wanted to NET which was a number that the buyer could work with.
Try to see if you can get updates from the listing agent if at all possible. They should be able to update you on the file and let you know where it's at in the process. This will give you SOME indication of how long your wait time may be, but obviously there is never a guarantee in short sales.
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