Bank of America Third Party Authorization Form is a tool to authorize representatives to carry out the short sale on your behalf. You may choose to appoint more than one representative using this form. This third party authorization form has two parts requiring inputs from the borrower, co-borrower/s, and third party representatives.
Please read the declaration in the borrower’s acknowledgement prior to signing it to understand its scope and limitations. You as the principal borrower, co-borrower/s, and designated third party representatives must date and sign this authorization form in acceptance to execute it. You must understand that you authorize nominated third parties to share confidential financial information about you upon signing and issuing this form. Therefore, appoint trustworthy real estate broker, licensed real estate agent, or attorney.
How to Prepare Bank of America Third Party Authorization Form
Part I – Borrower’s Acknowledgement
- Enter the loan account number on the foremost line of the Bank of America Third Party Authorization Form.
- Then enter detailed address of the property in the required format on the next line.
- Enter name of the borrower and the co-borrower on the respective lines.
- Continue by entering names of the Designated Representatives. You may choose to appoint more than one Designated Representative. However, you must enter each party’s name on a separate line. Each party listed in this part of the Bank of America Third Party Authorization Form must complete and sign the Designated Representative Acknowledgment on the next page.
- Please enter date and sign on the line reserved for the same. The co-borrower must sign on the next line after entering the date to complete preparing part I, the Borrower’s Acknowledgement.
Part II – Designated Representative Acknowledgment
- Enter the address of the property for a short sale in the desired manner on the foremost line of the Bank of America Third Party Authorization Form part II – Designated Representative Acknowledgment.
- Continue by entering the name of the Designated Representative, his/her company name, name of the State Licensing Entity, State Licensing/Registration Number of the Designated Representative, and Type of License along with the phone number and email address of the Designated Representative on the respective lines. Each Designated Representative must enter these details on separate lines, date, and sign in the respective lines.
- You must enter the details of the support staff who assists the Designated Representative; however, do not possess Attorney’s or Real Estate Agent/Broker’s License. Enter the name of the Designated Support Staff followed by his/her company name, and assistant for. Each Designated Support Staff person must date and sign this Part II – Designated Representative Acknowledgment of Bank of America Third Party Authorization Form. Please use separate lines for entering details of each Designated Support Staff.