I have an offer for a buyer waiting on acceptance with Bank of America/Countrywide. All docs from seller have been submitted and there is only one lien on the property. BofA said it would take 60-120 days for them to respond on the full price cash offer to close in 15 days with no inspections.
I don't know why BofA would take this long to respond to the offer. They must be understaffed. They do have to order a BPO and check with attorneys involved to see if court proceedings are currently involved but this, in my opinion, should not take longer than 2 weeks.
I miss the days back in the late 1980's when the term "short sale" had not been invented yet. I contacted the seller and got the offer signed; I made an appointment to meet with the bank at their office; the seller came with me; everybody negotiated and signed everything; and I left the table with an agreed upon, signed contract and we closed in 30 days. This was when loan companies used common sense and weren't playing games with the public.
Brenda Gravitt CRS, GRI