Submit Back Up Offers on Your Short Sales, Here's Why!

3 cheers to Bank of America!

What?  Did I say that?  One of the most notoriously difficult banks to work with?

Well, I give credit where credit is due, they did something right this time. 

Bank of America is accepting back up offers on short sale listings now. 

That means that if the buyer of your short sale does not move forward with the sale then the back-up buyer can take over without requiring the process to start again.

That saves months and months of time.  Hallelujah!

Doesn’t seem like rocket science?  Well, for the banks it is.

I have a short sale, we listed it in December and the bank responded to the original offer in March.  The bank told us what they were willing to take in terms of price and the buyer walked away from the deal.  So you would think that all you have to do is find someone else willing to pay the same price.

Fast forward from March to today, I’m stilling waiting for that bank to approve the SAME PRICE for different buyers.

Really?!

I hope that this helps the housing market improve a little.

If you would like to see available short sale, foreclosures, or just regular ol’ sales, feel free to do so here