Our agent emailed me yesterday. She emailed the seller's agent for an update on our short sale. The seller's agent then called Bank of America to request an update on our file. The customer service rep managed to get the negotiator on the phone. The negotiator said that they just didn't work on our file yet. Since it was past the normal processing time, the customer rep requested an escalation for our file. Files that have been escalated are supposed to get a response in 1-3 days.
But what does that really mean?
That probably means that since our file was in a huge stack of files the negotiator couldn't handle due to incompetence/overwork/understaffing, it will be placed in a different stack of files. All those files will be stamped Urgent and given to another equally incompetent/overworked/understaffed negotiator. We'll probably get a response in 2 months.
Did I mention we looked at another house? It was an REO, or bank owned property. It was in a great location in a quiet neighborhood, at the end of a cul-de-sac, with only 2 adjacent properties. It had a great living room with 2 large picture windows and a sliding glass door. There was a deck that went around 3/4 of the house. It was a 4 bedroom, 2 bathroom home. The 4th bedroom was really small and would be better for an office.
The downside was the kitchen. It was small. Small like the kitchen in our rental cottage. It would be OK for a couple, but really small for a family. It was also shit ugly with coral colored ceramic tile counters and horrible cabinets. But we could have made it work. A bit of paint... pluck out an eyeball...
But the roof. The roof was a big problem. The house had a tarp on the roof and it had visible water damage in the master bathroom. When I spoke to people, I heard numbers like $10000, $20000, $40000... Take Indiana prices for roofs and multiply that by three billion. That's what we would have been looking at for repairs.
Oddly enough, a few days later, the house went contingent. I hope whoever is buying the house is getting it for under the list price of $399.
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