Buying a Short Sale Bank of America

Discussion in 'Chit Chat' started by Joe, Feb 21, 2011.

  1. Joe


    Does anyone have experience with Bank of America on a short sale. Wondering who decides the price, I placed my offer on a property and I was told by a middle man between the bank and I that they came back at a higher price. However I was also told that the seller would have penalties to pay as well.

    I am wondering what penalties those are and why they can not except my lower offer? I would assume that the seller pays an amount that is somehow tied to the amount that I am not covering. Just wondering why they would just not put more burden on the seller and accept my offer?