Expect a response to your offer between 24-48 hours from when your offer is submitted to BOA, assuming you are not in a multiple offer situation.
Once verbally accepted, BOA will send their addendum package. Once this is completely filled out, it may take 48-72 hours to receive seller signatures. A missed initial or signature will delay this process.
Expect them to want to close 30 days from when the offer is fully executed.
Don't be afraid to look at BOA properties.
Bank of America has a 800# that an agent can verify if documents have been logged into the system. Using the 800# in addition to directly contacting the assigned agent is the best way. It allows you to verify that all the proper documents are being added as to not slow down the process. Best of luck, James
Expect a long wait. I've had an accepted offer on the table with a BofA short sale for 2 months. We just heard that the loan servicer has changed, and we're back to square one.
Principal Broker, REALTORÂ®
MacDuff Realty Group, LLC
That said, you found a home, fabulous! I'm assuming you will be an owner occupant - go through the steps and see what comes of it. Generally, you place your bid, they accept or counter, much like any other transaction. Other bank owned properties will let you know w/in a day, seriously. Then possession can occur shortly thereafter since you are paying cash.
Feel free to call if you need some help with the process and good luck!
Claire-Anne Aikman, SRES