How Bank of America’s Short Sale Process Works
Bank of America collects all of the information it needs from the seller and listing agent. Once it has this information, it will assign a negotiator to process the short sale:
- Review the documentation and request missing pieces of information.
- Order a Broker Price Opinion.
- Order Payoff.
- Issue a counter offer.
- Send the file to the investor.
- Accept, counter or reject the short sale.
- Notify the agent of the outcome.