Southern New Hampshire Real Estate and Short Sales: Following Protocol Not Always The Best Way To Go On Short Sales

Following Protocol Not Always The Best Way To Go On Short Sales

I received a phone call from Ashley the other day.  She was returning my phone call regarding initiating a short sale for a client here in Southern New Hampshire.  You see, in a recent attempt at streamlining, Bank of America introduced a new protocol that, in certain instances, requires that a phone call take placeCall Center Attendant between the agent and one of the 400 outsource companies they have hired (another attempt at streamlining) prior to initiating a short sale on the Equator Platform (an earlier attempt at streamlining).

Anyway, Ashley called me back about the short sale.  Well, actually, she thought she was calling me about a request for a deed-in-lieu...but, at least she called me back...right?

The problem is, those phone calls (there were actually a number of them) were placed between October 14th and 15th.

A one month wait in order to initiate a short sale.  So, much for the new protocol "streamlining" things.

Fortunately for my client and the buyer, I'm not big on protocol, I have the teeniest, tiniest contrary streak (no really...don't listen to my's small) and I don't always do things the way I'm "supposed to".

Consequently, the short sale has not only been initiated, it's been evaluated by the Negotiator (the real Negotiator, not one of the 7 layers of people that BAC likes to call Negotiators but who are really call center attendants, file clerks, janitors, etc.  Apparently, they don't want to hurt anyone's feelings at BAC so they call everyone a Negotiator.  I bet every goes home with a trophy at the Annual BAC Softball Tournament too!)  Anyway, it's been evaluated by the Negotiator, submitted to the Investor and we've received a counter offer.  Not bad for 30 days in the world of short sales.

Of course, my illustrious Co-broke's response to the counter was, "the Investor's on crack".  But that's a post for a different day.

Comment balloon 1 commentJoy Baker • November 18 2010 12:23PM


I have to tell you...I just hate dealing with all the issues that surround short sales. I think a negotiation that goes wrong for any reason makes us all look bad.

Posted by Jeffrey DiMuria 321.223.6253 Waves Realty, Florida Space Coast Homes (Waves Realty) over 9 years ago