Hello, I just signed a listing thi morning with chase on the 1st and 2nd? About how lon are they taking right NOW does anyone know? Thanks!

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I had a fully approved file for a 1st in less than 45 days...fully approved 2nd in less than 30 days. I haven't had any issues with them.
I find Chase takes the longest just because it takes them 30 days to assign a negotiator. Did you do anything different to get it assigned quickly?
My seller also has a 1st & 2nd with Chase, the people on the phone are very nice but I'm going on 4 months I have a complaint filed in the executive office, I just called again this morning. My contact sent an e-mail to the now third negotiator and supervisor, which has been done to the last 2 negotiators. I really don't understand, the interior BPO has been done, 3 months ago, customer service calls and tells me my negotiator will call within 72 hours, well I'm still waiting for that call and it's been way over 72 hours. I have a offer over fair market value, and they are going to lose this buyer. I have so many notes it's starting to look like a book.
Just got done emailing on the 2nd. He tells me approval process is currenlty at 3 months. Good luck. My experience with the 2nd has not been good at all.
Chase is certainly much better now than they were a year or two ago at processing and approving short sales in a timely manor, that's for sure! My experiences are about where Angela is in many cases, 1st positions in 6-8 weeks in most cases right now.
I am dealing with Chase on a first and Wells (collection dept.) on the Second. I submitted the offer on 8/20 they sent out a BPO on 8/24 a negotiator was assigned 9/9 she called me on 9/12 stating they want $295,000 more than submitted. I explained the BPO is out of whack and explained the $275,000 in foundation and section one work needed and the efforts to get a buyer especially a cash buyer due to financing issues. She said she would re-submit. I heard nothing back. I called back and was told the file was closed waiting for a new offer. I asked for a supervisor due to the circumstances. He said someone would call me in 24 hours. I waited 72 hours called back and got the run around by three different people. One said you have to resubmit the entire package. Again asked to escalate the file and requested a supervisor. I was told to check back next week.

So we are less than 2 months. I get the feeling they are still carrying a big load and are out of touch with the market.

If anyone has any suggestions regarding How BPO's value properties with extensive repairs send me an email.
I had the opportunity to visit with William H.Carr, REO manager in the Midwest Region this past week at our sales meeting in our office. He shared with us his new short sale program that he is developing and getting ready to promote. It is my understanding that they are going to start a new platform for short sales and make the process go must quicker and smoother.
Shannon, I just closed my second one with Chase and it varies, the first one took 3 months and the second was more challenging it took 5 months.
I was assigned a negotiator within 5 days of turning in a contract, and had approval 2 weeks later and some of the delay was the sellers had to update some of the paperwork that Chase had to FedEx to them.
chase is still doing 45 days or less...
My experience is more like Sheryl's.  We have a short sale right now and the file was assigned to a negotiator a month ago.  When several voice mails to her went unanswered (straight to voice mail) I called the Executive Office.  That was 2 weeks ago.  They're useless.  All they do is send an email to the negotiator and the supervisor.  No one at Chase seems to case-oh, isn't that their slogan....how much they care?  Ha!  Way down on Chase.  Don't think they've gotten any better.  Maybe instead of having the useless Executive Office assistance program, they could just hire enough staff to work the files in a timely manner.  Oh, and fire negotiators who have too many complaints about not calling agents back.

I have put in an offer for a short sale purchase. This home had an offer that was accepted by the bank and then had the buyer pull out at last minute. I put in my offer at the same price it was previously approved at by Chase. I was told that because of how far it had went through the proccess prior to my offer that I could get an approval in 3-4 weeks.

I have asked my realtor to please make sure that the listing agent is giving regular follow ups that include e-mail and fax as i have read in many places that this really helps. My realtor wrote me back with this...

  "I will caution you that there's a fine line to asking an agent for updates and progress of the file and telling them how to do their job.  I don't want the agent to get upset because of your  requests and not want to help this along"

This makes me very nervous of my realtor not being strong enough to make sure things are being taken care of correctly.

What do I do. I really want this house, and I don't want to wait longer then is nescasdary because of a lack of follow up by the realtor.

Can I fire my realtor and hire a short sale specialist as I found out my realtor has only closed 1 short sale even though she has been in the business 20 years.

Will firing her ruin the entire deal and I will have to resubmit everything and start over?

What else if anything can I do on my side to make sure my concerns are being taken seriously and thta the realtors involved are on their game?

Thank you in advance for any help





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