Equator counteroffer
I just got a counteroffer for a short sale on Equator, it was submitted on 11/17/09. Hopefully this is a sign of things to come.
Replies to This Discussion
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Permalink Reply by Bettie Meadows on
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Wow. Sounds like a miracle. But sounds good.
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Permalink Reply by Makoto Sato on
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Jeff, I almost fell off my chair just now! Counter offer? Is their counter offer realistic?
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Permalink Reply by Wendy Rulnick on
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Yes, do tell!
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Permalink Reply by Jeff Payne on
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They countered at the appraisal value, it is a good counter, our offer was 140,000 and they countered at 152,000. The only problem is that the homeowner is 2 years in arrears on the HOA and BofA won't pay it unless it is a lien on the property. The HOA has not placed a lien yet....
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Hi Jeff - I had BOFA tell me that about HOA dues one time - I think it depends on the investor on the deal. You could have the HOA place a lien, then! OR- negotiate with HOA to get the dues down and have buyer pay? Florida only pays HOA one year past dues if there is a foreclosure, 6 months for condos.
Jeff Payne said:They countered at the appraisal value, it is a good counter, our offer was 140,000 and they countered at 152,000. The only problem is that the homeowner is 2 years in arrears on the HOA and BofA won't pay it unless it is a lien on the property. The HOA has not placed a lien yet.... -
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Wendy, it is at Majestic Beach condos and their HOA attorney would just as soon burn down his house just to prove that he is homeless. He won't negotiate the HOA dues at all, he would rather let it foreclose and only get 6 months of it.
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Ridiculous!!! Then he should be smart enough to file a lien!!!!
Jeff Payne said:Wendy, it is at Majestic Beach condos and their HOA attorney would just as soon burn down his house just to prove that he is homeless. He won't negotiate the HOA dues at all, he would rather let it foreclose and only get 6 months of it. -
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Permalink Reply by Daryl New on
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Me Too... 2 counters, 1 of them approved out of 3 files on Equator... I now like Equator...
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Daryl, How long after the BPO did it take for them to send you the counter-offer?
Daryl New said:Me Too... 2 counters, 1 of them approved out of 3 files on Equator... I now like Equator... -
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about 2 weeks. I have had these files with BoA for a year, so that may be why mine are now moving...
Makoto Sato said:Daryl, How long after the BPO did it take for them to send you the counter-offer?
Daryl New said:Me Too... 2 counters, 1 of them approved out of 3 files on Equator... I now like Equator... -
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Permalink Reply by Juan Reyes on
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I submitted an offer of $190K all-cash for a condo I had listed at $225K (market value) on Oct. 16 and received a counter from BOA on Dec. 16 for $228K. The buyers re-countered at $215K which I submitted on 12/17.
Weeks went by and had not heard anything back, I kept calling and was given the run around, finally one of the reps informed me the negotiator had a task that was overdue 3 weeks..... What task you ask? To review the counter offer!!
I finally received what I call an "Acceptance" even though it was a counter, BOA agreed to the $215K price with the only change being to the settlement date to March 1st. The buyers accepted the same day, I still don't have an approval letter fro BOA, and was just told they are waiting for the investor to approve it. -
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Permalink Reply by Ronnie Ahmad on
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Juan thaqt wasnt under Equator right? Because you indicated you started in October?
Juan Reyes said:I submitted an offer of $190K all-cash for a condo I had listed at $225K (market value) on Oct. 16 and received a counter from BOA on Dec. 16 for $228K. The buyers re-countered at $215K which I submitted on 12/17.
Weeks went by and had not heard anything back, I kept calling and was given the run around, finally one of the reps informed me the negotiator had a task that was overdue 3 weeks..... What task you ask? To review the counter offer!!
I finally received what I call an "Acceptance" even though it was a counter, BOA agreed to the $215K price with the only change being to the settlement date to March 1st. The buyers accepted the same day, I still don't have an approval letter fro BOA, and was just told they are waiting for the investor to approve it. -
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