Monday, July 19, 2010

Is Bank of America refining its Equator Online Short Sale Negotiation System?

Hmm...could Bank of America be trying to shed some light on the use of its online Equator Short Sale Negotiation System? I have negotiated numerous Sacramento-area BofA short sales via Equator, and this is the first time I have received this message:

"Congratulations, the property at now has updated valuations and we can move the short sale forward. At this stage, we will be obtaining some internal pieces of information, such as the payoff amount so that we can analyze the offer in comparison to the valuation. You will receive questions or counter offers directly from your assigned Short Sale Specialist. The next status notification will be sent to you once the file is submitted for investor decision.

Please remember that our objective is to negotiate for an offer that we believe the investor will approve. All counter offers will delay the process. Also, please be aware that the investor can make changes to the offer and additional stipulations prior to approving the deal."



ironmonkey said...

How long after receiving this message did you get an actual response to the offer? I received this exact message a few days ago.

Plano Listing Agent said...

Just a round about way of telling the interested buyer that they do not want a counter!