Does anyone have any insight on how to get Chase to make some decisions? Long story short ,I have a short sale with them. Had a full price offer in the first few days and they said it was too low. Had a bpo done beginning of March have been told week after week that they will be in touch. Bottom line, they keep just checking and rechecking to make sure that all the paperwork is in but will not tell me what they are willing to work with. In the meantime, I have no showings and just keeping dropping the price 10K every 10 days ...UGH...
I too have a short sale with Chase; they are the second; first is getting paid in full and Chase is getting 3/4 of their money; I call 3-4 times a week; They are slow and staff seems overburdened with cases. If you can get the negotiators name and direct phone number which they should give you, might help-I was told once the bpo was in it was a 5-7 day turn time for a decision; so hope they are right;
I told Chase at one point they were worse than B of A. Not sure what that did, but I got my approval. You really need to get the negotiators name. Once you have someone to actually talk to, they're not bad at all.
I had a similar situation with them. I realized I needed to get all my dates together and verify for myself that they had a full package with current docs. Called back and thankfully got someone who speaks english who had alittle experience. I told her I really needed her help and then explained the situation (in your case ending with the delay is costing more money). I asked her if she could speak for a manager for me or I would be glad to talk to them myself if she thought that was best. I think by letting her feel she had some control and I needed her, she helped me all she could. My problem was solved the next day!!! Accurate details, reasonable requests within guidelines and kindness usually gets what you need!
the last deal I did with chase tool 11 months to close. they lost the complete file 3 times, they changed negotiators 3 times, after 9 months of "maybe" they said they wanted more money, like $740,000 instead of $670,000 off
the buyer agreed and it closed, chase had a first, and a second, during the 11 months we waited another $20,000 in property taxes were incurred. we did let the buyer move way before closing, all he had to pay were the utiltities, in hindsight perhaps that was a brilliant move, it was brilliant, because it finally did close, had it not closed, we would have all been in litigation over this deal.
and after 11 months, they cut the commission to 5%, the buyer agent would not take less than 3%, I don't blame her that's what she got.
We've learned from a few different experiences that when it comes to short sales, NEVER, EVER allow a buyer occupancy prior to closing! I can think of at least two that we have had where the "buyer" ended up not being able to get financing, didn't want to move, and didn't want to allow showings!
Tenants are #2 reason it seams deals fall apart, only after divorce drama...
I do see though how it benefited your situation, as they were attached to the house. Sounds like a pretty well off buyer which is a different matter...
That's right that buyer was a Doctor, he would and could afford to pay more. He also would and could have sued every party to the transaction had it not closed. I can tell you after about 6 months he lost his patience and any sense of humor he might have had over this deal. The whole deal was like a high stakes poker game that would never end. However, another good example of why we should all ask for a 12 month listing. I found some excellent short sale resources yesterday at:
Tim, One thing our MLS requires we put in our agent to agent comments of the listing is that if the bank(s) cut commission, the selling agent gets 50% of the final amount. We have had no problem with that!
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