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Updated over 14 years ago on . Most recent reply

User Stats

80
Posts
35
Votes
Matt Whiteside
  • Investor
  • Elburn, IL
35
Votes |
80
Posts

Should I turn down BOA short sale?

Matt Whiteside
  • Investor
  • Elburn, IL
Posted

I talked with a homeowner today who wants to do a short sale. They have the one loan with Boa, the house is currently listed with a realtor. I haven't had the pleasure of dealing with BOA yet so I'm not really familiar with equator.
Should I just tell the homeowner to have the realtor deal with equator, and walk away?

Most Popular Reply

User Stats

1,762
Posts
1,299
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Eric M.
  • Flipper/Rehabber
  • Louisville, KY
1,299
Votes |
1,762
Posts
Eric M.
  • Flipper/Rehabber
  • Louisville, KY
Replied

Matt,

Rather than just walking away, Old School Title has this new program that I have been curious how it would work out. Maybe this can be a test.
Basically, you give them the Bof A lead and let them work it "cradle to grave". They negotiate the whole thing, the arrange trans funding, everything. The cost in the end is 75% of your profits which is high, but the risk and your work is very low. Better than turning it down.
It is called BofA concierge service or something like that.

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