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CHASE - Has anyone requested a new negotiator?

Posted by Smitty on September 7, 2011 at 7:25am in Short Sale Discussions

I have a property that had about 4 showings and one offer.  The offer came in after two price reductions.

Started at $140,000 - Reduced to $129,000 and then to $119,000

 

The property needs a LOT of work.  Offer came in at $110,000 which was reasonable based on the reductions.  BPO was ordered and we got a "picture taker" - The bpo came in at $160,000 and the negotiator told me in order for them to take a different offer I needed to get 3 comps within a certain radius.  NO PROBLEM.  Sent it FOUR comps within a 1-3 mile radius.

 

File gets sent to investor, DENIED "offer to low"

 

I explained over and over to the negotiator that the BPO was not done correctly.  A 20 year old girl with a camera is NOT the same BPO agent that was listed to come to the property (I only found this out after the fact)

 

I finally spoke to someone in customer service who stated that I can wait 90 days and resubmit so they can order new appraisal. 

 

I did.  Now we have the SAME negotiator.  Any ideas?

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Replies

  • Smitty September 13, 2011 at 2:22am
    Ok, I have left 6 messages for 6 consecutive days (minus this past weekend) for the negotiator.  she has not returned one call.  This is completely ridiculous.  I'm emailing and calling executive review AGAIN today.  I can't stand Chase.
  • Kimberley Kelly September 11, 2011 at 12:54am
    Smitty's right..with Chase, it doesn't matter.  I think they are hiring people for $7.50/hr. and giving them a leaflet entitled, "How to price a Short Sale" and letting it go..
  • Kristy Hamilton September 9, 2011 at 4:26pm

    Can you do a BPO and submit with your offer?  Is the seller willing to order, and pay for, their own appraisal of the property and submit with offer?  Just an idea.  Chase is not one of my favorite lenders to deal with, either.  Sorry that you are having such a difficult time with them.  Maybe, it is time to call your local congressman on this one. 

     

    • Smitty > Kristy Hamilton September 10, 2011 at 11:21am
      The buyer ordered an appraisal, and we submitted it.  I even submitted Comps, CMA etc., and it doesn't matter.
  • Smitty September 9, 2011 at 1:58am

    Jeff, it was because of THIS DEAL that I have currently confirmed ALL my BPO appts, via email and in the subject line written BRING PHOTO ID.  I got hosed on this one.  I made the appointment with a woman who said she had been in the business 10 years.  When she showed up, the girl couldn't have been more than 20 years old, got out of the back of a beat up car with teenagers in the front...I TRIED to give her comps etc., but she just took pictures and left.  The homeowner and I were in shock.  I immediately went back and tried to look up this agents profile on the internet.  No pictures but a website with 2 listings.  I then IMMEDIATELY called chase and explained the situation and guess what?!?!?  Yep...the negotiator didn't give a rats ^%$!

     

    So now I'm on round two with this file.  SAME negotiator.  I've left messages for 3 days in a row without a call back.  It's a joke.  I can see how it's going to go.

    • Jeff Payne > Smitty September 9, 2011 at 2:51am
      First thing I would do is call the agent broker and tell them that you are going to deny access to anyone who is NOT the agent that was assigned and that you are going to report them.  Probably not much you can do but maybe a threat will help for next time?
      • Smitty > Jeff Payne September 9, 2011 at 2:55am

        Ya...that's if I'm lucky enough to push this lazy negotiator to order a new bpo.  It's been over 90 days, but who knows.  She was absolutely NO HELP in the first round of this.  I'm hoping now she will be.  My homeowners got the $20,000 incentive letter too, so if she questions me about them not being in HAFA any more, I'll point that out.  SHE kicked them out of HAFA...imagine that?  Probably the best thing for them at this point. 

         

        Chase is quickly becoming my least favorite lender.

  • Smitty September 8, 2011 at 8:19am

    I was there for the BPO - that's how I know the BPO agent and the "picture taker" were not the same person. 

    • Jeff Payne > Smitty September 8, 2011 at 9:02am

      Smitty, was this an agent taking pictures?  Did you unlock the door for them?  In my area, it is a big No No if someone uses an agents lock box key.

      In the future, you should ask for ID and if they are not the person who is supposed to be there, don't let them in,

      Back to what you are facing.  You should contact the Chase Executive Resolution team ASAP and plead your case with them.

      • Christina Conrad > Jeff Payne September 8, 2011 at 9:05am

        Jeff:

         

        What is the Chase Executive Resolution team?  Can I have their contact information?

This reply was deleted.
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