Bank of New York Short Sale

[Lance A White]

Looking at a property that is a short sale through Bank of New York. According to the neighbor the property has been vacant a long time. My agent contacted the listing agent whose sign is in the yard and the listing agent says "I'm having a bear of a time getting the bank to move forward...". ARV is close to $300K so there is potential for big profit. Anyone had an experience like that with Bank of New York and has some advice I can move forward with?

[Wayne Brooks]

The statement by the agent could mean 100 different things, one being try to get a low ball price approved. BNY is no better, or no worse, than average. Much depends on who the actual investor is as BNY usually just acts as Trustee or servicer.