Bank of America’s Equator Counter Offer Process
This is my next installment in the Bank of America Equator series. The series is only expanded as necessary and this week I came across some information that is critical to every real estate agent, seller and buyer dealing with a Bank of America short sale.
Counter offers with Bank of America are not what they seem. Anyone who has ever been in real estate would agree that if someone makes a counter offer and the other party accepts the term of that counter offer, all parties are in agreement and there are no further negotiations. Bank of America does not understand that minor detail. Watch this video to find out what Bank of America is thinking when they counter the terms of your short sale offer.
Matt Side
Alliance Short Sales
www.AllianceShortSales.com
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Based in Spokane, Washington Alliance Short Sales offers short sale services in multiple states around the U.S. With a current network of agents located in Washington, California, Idaho, Nevada, Arizona, Florida, Tennessee, Georgia, Ohio, Maryland, Kansas and Virginia, Alliance negotiates short sale real estate transactions with lenders on behalf of agents without charging a fee to the agent or the seller. Because their fees are paid at closing out of the net proceeds to the lender, Alliance creates a beneficial outcome for all parties involved. For additional information about how you can work with Alliance Short Sales, please visit our website at www.AllianceShortSales.com.
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If you have a short sale with a US Bank first mortgage you will want to watch this video. It is not very long but will give you some insight into a newly updated policy that is going to potentially add some marketing time to your short sales. As if we need to add time to this process. Make sure you properly position your buyers and watch the auction dates.
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