BoA and Wells will make you hold for 90 days, and Chase will make you hold for 120 days unless you do "substantial refurbishment."

With all the major banks (Wells, Chase, BoA, etc), the approval letter that the buyer, seller and agents are required to sign say something to the effect of, "All parties believe that the property is selling at fair market value and there are no other contracts or agreements on the property that the bank doesn't know about."

My current lender is BOA, this is why I'm so worried.

It depends on the bank and the ones mentioned so far are BOA and Chase.Has anyone else have this happen on their deals???

I live in Oregon and have been trying to get BOA to modify my loan for 2 years.

Certain big banks are faster than others (BoA is surprisingly fast these days).- Motivated seller.

In the public comments, you may read things such as:- Bank owned- Corporate owned- Proof of Funds or Pre-qualification Letter required- Resale restrictions- If there is a "Case #" it's likely a HUD- Anything about investor offers not being accepted for some period of time- If it mentions a bank name: Fannie Mae, BoA, Wells Fargo, etcAll that said, a lot of times you'll need access to the Private Remarks to be sure.

No title change has taken place yet.Does BOA have any type of legal responsibilty for things like this?

The bankruptcy probably has BoA working in this mode, where they are not going to try and do any action that might be perceived as an attempt to collect the debt.

The property was appraised last month at $130,000 through a BOA appraiser (which the cost of this actually got refunded to me when they said they couldn't do the refi).So my question is, who thinks it's better to sell the property, which I feel would sell for close to the appraised value, take the cash and reinvest elsewhere (since I dislike the idea of investment property being a condo)?