Providing you with the knowledge and tools needed to succeed with Short Sales
Has anyone had any experience with Chase pre-approving a HAFA Short Sale with a listing price? I have a Buyer interested in a property where the agent says it's a pre-approved HAFA Short Sale, and she was given the listing price by the bank.
My experience with Chase is that they don't pre-approve anything, particularly listing prices.
Yes, but it is not working many times..the List Price I got was approx $100,000 over what it can sell for. I submitted an offer anyway, got the file declined due to "this is less than our valuations". I am re-listing at their "valuations" # and will keep reducing until I get an offer (bet it's the same as the 1st one), then new appraiser and hopefully, a closer to real life valuation..
I have a Chase HAFA listing. They have pre-approved the seller, but don't set a listing price. They are doing a BPO every 60-90 days. They call me weekly, and ask if I have any offers, and if I've lowered the price LOL... You can tell the rep is not familiar with selling real estate, but reading a script. They are asking me to fax them seller bank statements and paystubs as they come in. My impression is that once I get a contract, it will go rather smoothly.
I have the same experience. Maybe it is a new thing. The last time I had dealt with Chase was on July 2010. Maybe the listing agent had a buyer at one time and he/she had it approved under the Chase HAFA program. Just my guess.