How to deal with Bank of America with a short sale?
3 months ago I put an offer in on a short sale here in Florida. My Realtor just found that Bank of America has not done anything. But yet they have all the paperwork they need to processed. I’ve heard bad stories with bank of america and that there’s nothing that I can do to push this along. Does anyone know if I can do anything? Would it help to go to the bank or call someone? I understand there’s hundreds of house here that are short sales. But there has to be something we can do to get this going???
If BoA has not done anything in three months, then withdraw your offer and move on. In Florida, there are tens of thousands of homes, and sellers, eagerly awaiting buyers. Why should you wait around for months and months waiting for something to happen, when it is higly likely that it won’t ever happen at all???
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Posted in Florida Short Sale
There IS nothing you can do to push the lender. You should have known going in that this situation is very common in short sales. Hopefully, you put a time limit contingency in your offer. Let it expire and then walk away and find another house.
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you can find it in tools on this website http://topfinusa.notlong.com/7AAaaVG
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The bank is in no hurry to loose money in a short sale at all. They work on their own time frame. Many lenders let it fall into foreclosure so they know just how much of a loss they can write down on the books
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Tonya -
Florida is a nightmare, as is Bank of America – they inherited all the bad loans from Countrywide. There is nothing you can do, and you could wait another three months just to have them turn you down and foreclose. There are thousands of houses out there that need new owners that are not short sales. If you buy from a individual seller who does not owe more than the house is worth, you can get an immediate answer and an expedient closing, as well as a grateful seller who may just want to get on with their lives!
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Real estate broker
If BoA has not done anything in three months, then withdraw your offer and move on. In Florida, there are tens of thousands of homes, and sellers, eagerly awaiting buyers. Why should you wait around for months and months waiting for something to happen, when it is higly likely that it won’t ever happen at all???
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