Hello Bank of America - Is Anybody Out There? For those of you who missed my recent post; The Mother of all Short Sale Miracles!, here is another opportunity to rejoice/commiserate with me regarding another Bank of America short sale.
We received a short sale offer on one of my listings in Grants Pass Oregon and we uploaded all docs to Bank of America's Equator site on January 1, 2010. BofA countered the Buyer's offer in March by $8K. The Buyer decided to walk (which proved to be a dumb move!). The Buyer came back two weeks later and countered by $4K. BofA has been sitting on that counter for the past month. I have made numerous phone calls to BofA, as well as several emails to the negotiator, to no avail. I even put the following in the subject line of my last email... "Hello Bank of America - Is Anybody Out There?" Still no response!
Today, I resorted to a last ditch effort. I put on my wonder woman cape and pulled out my BofA secret weapon (if you want to know what it is, you have to read my previous post!) and I was able to get a few phone numbers for the negotiator and his boss. Surprisingly, I got the negotiator on the phone on the first try! He was not amused by the fact that I was able to track him down (perhaps it was the lucky cape!).
The negotiator gave me Bank of America's bottom line price and sent me the final counter offer. Unfortunately, this time the counter offer came back higher than the first counter. The reason... BofA said the 2nd BPO (recently done in the past week) came back higher than the 1st BPO. If the Buyer had accepted the first counter offer, this deal would have been closed by now, the Buyer would have been living in a nice home, and the tax credit would have been realized within the appropriate deadline. Instead, we monkeyed around over $4K. At least I can stop saying; "Hello Bank of America - Is Anybody Out There?"
I couldn't save the day today. But, I'm not ready to retire the cape. I may need it on the next Bank of America short sale go round :)