I have an all cash offer for a property in CA. $440,000
I faxed the offer 4 times with confirmation and didn't have a negotiator assigned.
I called in to the 800# and a negotiator assigned himself to the file and immediately countered the offer on the phone all in less than 10 minutes. No BPO ordered etc.
Home is scheduled for 12/13 foreclosure.
Buyer came up another $35K and negotiator immediately declined the counter and closed the file.
Funny thing is their "Home Mortgage Evaluation Tool" that consumers are encouraged to use to find the value of a property they may want to purchase estimates the property at $447,000 and they are shooting down a $475,000 all cash offer without a valuation? Negotiator insisting on $520,000. Based on what is owed, Chase will get $0.69 on the dollar if they accept the offer.
Do they have "estimated" valuations in their system they always use without ordering a new one?
Any suggestions/insight on how to get this escalated? Will they re-open the file if I call in again? Never had this happen before.
Only this EMC/Chase loan, no second. It is an investment property.
Thank you!
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I "hidden" factor can be the seller's credit report, etc. If he is loaded, why should Chase settle? He owes them and is rolling in cash. Doesn't matter what the home is worth, he's on the hook. So, you might want to see how his financials look.
Let us know what happens..
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