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Throw their offer in the trash. In SoCal, we have so many offers on one property that it makes no sense to waste time on offers that are absurd......and I disclose that in my MLS instructions.
I really wish buyers agents would get in the game and really educate not only themselves on the process but also their buyers...these transactions aren't hard... patience & education on the process goes a LONG WAY
It also says on BofA's website that they will close 60 to 90 days on a short sale. HA! I am sure the agent that contacted you has closed 200 and has way more experience. :)
BofA will pay closing costs, SOMETIMES. MLS? Yea, that is accurate... My favorite MLS remarks are "Do not use as comp, this was a short sale" or "Not a short sale, seller brought money to closing"
The 20 year agents can be worse, especially when they are dealing with a newbie like me.
Hi Wendy,
I've closed several short sales with BOA and they have given 3% to recurring & non-recurring closing costs as well a pest and home warranty. In my humble opinion you only get what you ask for and if you don't ask it won't happen. As for the close of escrow period 30-45 days is a normal closing period AFTER YOU RECEIVE APPROVAL from the bank as time periods don't begin until then. Once you have an approval from the bank, the buyer should be able to close 30-45 days depending on type of loan.
Hope this helps,
Geanne
Hello, I currently have a buyer with an offer in on a BOA short sale and they file has been in "SPO Review" for 3 weeks now and no one including the listing agent can tell me what that means. Have you ever heard of this before and if so please give me some insight as to what it means. This is my first short sale with BOA so I am not familiar with all of their terms. We had the first bpo done and they received it. We submitted the offer in September and they say that we should have a response by 11/24 do you thank they will actually keep that dead line?
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