Sat in on a CDPE call regarding Bank of America and updates to their short sale process, including the use of www.Auctions.com and improvements in the cooperative short sale process. Good info as we’re about to take on a listing that was originally going to fit into this except they just sold off his servicing to another vendor. We’ll see what happens with it after our meetings with client later this week.
I’m really curious to see how well this plays out for Bank of America. They’re stating the reason is to provide more online views of properties for sale and to help move these along quickly. For agent brokers in smaller marketplaces, it might be just the ticket to really help move some inventory to people outside their marketplace, like to investors.
