San Jose Short Sale Agent
Closes HAFA Short Sale with Bank of America on 1-27-2012
Short Sale time frames will most definitely vary depending on the number of loans and who services the loans.
Below is an outline of the time frame for closing a short sale. This property qualified for, and was approved as a HAFA short sale. The property is located in Milpitas, California.
San Jose short sale agent helps another homeowner avoid foreclosure with a Bank of America HAFA short sale.
- List Date: 8/19/2011
- List Price: $369,000
- Price Reduced: $358,888 on 9/3/2011
- Sale Date: 9/15/2011
- Number of Offers: 3
- Days on Market: 27
- Price Increase 12/2/2011: $370,800 – mandated by AMS Servicing policy
- Conditional Lender Approval 1st Lien with Bank of America: 12/22/2011
- Lender Approval 2nd Lien with Wells Fargo: 1/6/2012
- Final HAFA Approval with Bank of America: 1/23/2012
- Sales Price: $358,888
- Close of Escrow: 1/27/2012
- List to Close: > 5.0 months
- HAFA Incentive to Borrower: $3,000.00
- Bank of America HAFA short sale servicer: AMS-Servicing
Working with AMS Servicing was extremely challenging. Without Bank of America escalation support this file would not be closed today.
A proven strategy for a successful short sale is to require the purchase agreement time line to begin the day following receipt of the the first lien approval. As shown on the short sale time frame above, the file was ready to be closed by the time the final approval letter was issued. The file was closed within 3 days of receiving the final approval.
You can save your home from foreclosure. Get the help you need now. Don’t wait until you run out of time. Call your local San Jose short sale agent who is trained, certified, experienced, with a track record of helping homeowners avoid foreclosure.
Call 1-800-972-1822 today!