Chase ask for price change in Listing Agreement
Hello Chase members,
I have been working with a great negotiator at Chase and she has been keeping on top of my file. We are ready to close on the deal after approximately 90 days, and this morning she asked me to change my list price in the listing agreement from $65,000 to $43,000.
I'm sure their appraisal came in at the price, but is this normal for the bank to ask brokers to change the listing agreement price?
Any ideas or comments on this?
Replies to This Discussion
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Permalink Reply by Jeff Payne on
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She is probably being proactive knowing that the investor will probably look at the list price. Unusual for Chase to do anythign proactive :)
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Permalink Reply by MeLisa Minter on
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Ok Thanks.
I have an offer for $58,000 and if they change the list price to $43,000, it seems they will be making a good profit. -
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Permalink Reply by Kent Dills on
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Not normal to ask for change of List Price downward. I have asked the to ask to increase after they've declined an offer and wanted me to continue marketing to try to get higher offer though!
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Ok guys. I just spoke with the negotiator again for clarification on why the bank needed me to change the list price from $65,000 to $43,000. The negotiator stated that the appraisal price came in at $43,000. Now I wonder what that's going to do with the buyers lender. They haven't mentioned any pricing or appraisal concerns as of yet.
Kent Dills said:Not normal to ask for change of List Price downward. I have asked the to ask to increase after they've declined an offer and wanted me to continue marketing to try to get higher offer though! -
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Permalink Reply by Ben Benita on
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If that is what it takes to get the approval, I would do it, get paid, and, let your Seller move on.
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Permalink Reply by Wendy Rulnick on
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If it was not the list price, it was not the list price. I would not do it. If they were asking you to edit LAST list price, that is different.
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Thanks everyone.
I've never had this happen. I spoke with the buyers loan officer today and he said that their appraisal came in at list price. Keep in mind that the property is a mobile home and it's hard to come up with values for these. When I listed the home, I had to dig deep for comps, so I can see why the price difference between me, Chase's appraiser and the buyer's appraiser.
Wendy Rulnick said:If it was not the list price, it was not the list price. I would not do it. If they were asking you to edit LAST list price, that is different. -
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