What is the time frame on a Bank of America Short Sale? The other agent just received the package.

The other agent just received the package, we just submitted an offer, the sellers just accepted... Now its up to Equator?   
  • January 24 2011 - Draper
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Answers (2)

BoA just went public stating that they have a new process in place to approve offers within 2 weeks.  I doubt that will happen.  I do not care for Equator, nor working a short sale with a bank that has thousands of open files.  Nonetheless, if anything, BoA wants to create the illusion that they are pioneering the new Short Sale 'way'.

I would still count on 3 months.  Since the offer is just now submitted, you are only starting the process.
  • January 24 2011
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I am told that the process takes 3 months now but in the past it has taken as long as a year.  In BostonMA recently a property was sold faster than 3 months.  Things are improving but patience is always needed on these types of transaction.

  • January 24 2011
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