"I am so sorry this happened to you. First off, in short sales...the horrible side to be on is the "buyer's side", no pun intended. Too often I see this happen because there are listing agents that don't really know what they are…"
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Sheyenne Schultz replied to Brandi Hamilton's discussion What went wrong!! Please lend advice on deal dead after 6 months.... in the group Bank of America Short Sales"Angela - you are correct - it was a HAFA - the 2nd one was not that why's it was listed immediately. I do find that banks are more willing to try and work with a seller if they know upfront what the seller's intentions are!"
Joseph C. Alfe replied to Brandi Hamilton's discussion What went wrong!! Please lend advice on deal dead after 6 months.... in the group Bank of America Short Sales"This is why you should never offer on a short sale when you absolutely have to move by a certain date. Short sales are unpredictable as a rule, more so when you have a clueless agent working on it."
Angela Alfe replied to Brandi Hamilton's discussion What went wrong!! Please lend advice on deal dead after 6 months.... in the group Bank of America Short Sales"Cindy, this would be a HAFA short sale (the process you described above--waiting to put on the market). That was the Pre-Foreclosure process...where you send everything in and they tell you what to list the process at.
I would wonder why the…"
Emmanuel (Mannie) Makhathini replied to Brandi Hamilton's discussion What went wrong!! Please lend advice on deal dead after 6 months.... in the group Bank of America Short Sales"First of all, it sounds like your realtor (Buyers agent) does not understand the short sale process. When the seller accepts the offer it does not mean the short sale is approved. Your agent did not do his or her due diligent to ask the sellers…"
"This can and does happen but I see several things that would have raised a red flag to me - 1) Did the seller and sellers's agent have contact with lienholder to determine if the seller qualified for a short sale? 2) Did the Seller provide the…"
Brandi Hamilton liked Brandi Hamilton's discussion What went wrong!! Please lend advice on deal dead after 6 months....Brandi Hamilton added a discussion to the group Bank of America Short Sales
What went wrong!! Please lend advice on deal dead after 6 months....
Hi,I'm a buyer who put in an offer on a BOA short sale property in September of 2011. As far as my knowledge goes, the offer was put in-the bank ordered appraisal, my lender ordered appraisal, home inspection done and repairs completed by seller. All within a month of putting in contract. My realtor said that the offer was accepted and this was in a few days after Halloween. NO progress since Halloween. My relaotr has said that the sellers agent says the file is ready for review and on the…See More
Brandi Hamilton joined Mike Linkenauger's groupBank of America Short Sales
A place to discuss Bank of America short sale programs and share information and help to get mortgage short sales approved.
Profile Information
- Occupation
- Home Owner
- Short Sale Transactions Completed
- 0-5
- Do you have any experience in Commercial Real Estate? If so, do you have the CCIM or any commercial designations? How many commercial transactions and dollar volume have you CLOSED?
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- January 2, 2012
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