Monday, May 5, 2014

Bank of Evil, Formerly Bank of America

It was just about a year ago that we made an offer on the house that we now live in.  I had been appointed to serve a church in Albuquerque, and for the first time in our time serving churches we would not be living in a parsonage.  We ended up making the offer on this house because an offer we made on another house wasn't working.

That house, which was fantastic, was a short sale being held by Bank of America.  We made an offer on it with what we thought was plenty of time to get everything completed so that we could close when we needed to be in Albuquerque to begin at the new church.  Bank of America told us what the price was that we needed to offer in order to get everything approved.  And then we sat and we waited. And we waited. And we waited some more.

And then they came back and said we needed to increase our price a little, and then a little more, and then a little more, really nickle and dimeing us to death, but they also could not tell us when the paper work would finally be approved.  And so we waited and started to sweat about not getting into the house on time, and then went out looking at other homes and found this one, made an offer, which was accepted in a day, and then cancelled the offer we had made on the other house and purchased this one.

I recently went by that other house and it's still for sale.  Bank of America had an offer in hand, had buyers who were willing to make the deal happen at the price the bank wanted, and yet they couldn't get the paperwork completed, because they really didn't care.  What difference did this little house make in the total operations of their bank?  None.  Nor did the concerns we expressed about getting the deal done in time.  I feel sorry for the people who owned the house, who have probably now entered into foreclosure, but I don't feel sorry for the agent, who was just as as unhelpful as the bank, or for Bank of America.

We would have bought that house, wanted to buy that house, but Bank of America ultimately didn't really care enough about selling it to actually do anything.

UPDATE: My real estate agent just looked up this house and he said that it is showing a sale pending, and the price is $30,000 less than what we had offered.

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