The Bank Of America Cooperative Short Sale Is A Thing Of Beauty
By Bryant Tutas, Selling Florida one home at a time
(Tutas Towne Realty, Inc and Garden Views Realty, LLC)
Folks, as we all know, there are many things that are wrong in the Short Sale world. And in my opinion there is one thing that is very right. The Bank of America Cooperative Short Sale. The Bank of America Co-op is what Short Sales should be. Low to no documentation from the Seller. Pre-approved pricing with aggressive price reductions. $2,500 cash to the Seller at closing. Full Waiver of Deficiency. 6% Commission.. Can be an investment property. It’s basically HAFA without all of the paperwork and time delays. I’ve done quite a few of these and have about a dozen on the works right now. One key point is that you want to be sure to go through the Co-op approval process prior to placing the property on the market. It may take a couple of months on the front end to get approved for the...
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