Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on March 31, 2011 at 6:26am

Guy,

 

Great Job!

 

Who was the investor?  What state was the property located in?  

 

I'm trying to determine if there is a rhyme/reason for these.

 

Thanks, Kevin

Permalink Reply by Ben Benita on March 31, 2011 at 6:31am

nice work and congrats...we are working on one with Chase and same thing...client got a letter offering them $30k.....I could not believe it myself, but, I got a copy of the letter, called in, and, as you too can now confirm, 100% true....

 

nice work.

Permalink Reply by Guy Giuffre on March 31, 2011 at 6:35am

Not sure on the investor.

 

Property is in Santa Clara, CA.

 

Not sure why they did it. The seller received a letter from them stating the incentive but I figured it would be one of those deals that they would say "sorry, you don't qualify for that program".

 

Very smooth and fast transaction too. I submitted the package on 2/18 and we closed 3/30.

 

Guy 

Permalink Reply by Brian Wood on March 31, 2011 at 6:41am

That's amazing from Chase.  PNC who was pretty amazing to work with paid my client $52,000 on a $1.1 million dollar short sale.  They made off quite a bit better then I did.

Permalink Reply by Kevin - Greenville, SC on March 31, 2011 at 6:47am

About a year ago I had a client get $10,000 from Selene Finance.

Permalink Reply by Guy Giuffre on April 1, 2011 at 7:25am

Property is in Santa Clara, CA. Nod was filed and we were only days away from trustee sale. Got it postponed and went from there. Chase worked really fast on this one. Sales price was $450K.

Permalink Reply by Guy Giuffre on April 4, 2011 at 8:30am

Negotiator just told me to put it on the HUD.

Good luck.

Permalink Reply by Glenn Batten on December 16, 2011 at 4:42am

Guy,  what HUD line did you use and what did you call the incentive.  Appreciate any information.  Glenn

Permalink Reply by Guy Giuffre on December 16, 2011 at 5:01am

Hi Glenn,

My title officer put it on line 1303 and just called it a seller incentive. 

We have since closed another one where the seller received a $35K incentive.

Good luck

Permalink Reply by Bob Bridge on April 5, 2011 at 1:33pm

Yeah just got one done today and it was HAFA. Seller got 20K from Chase and another 3k from HAFA incentive.

Permalink Reply by Guy Giuffre on April 6, 2011 at 2:38am

I would let your agent handle it. If they need help, then you could step in. Have them put it on the HUD and send it in along with a copy of the letter. If your negotiator is not helping try running it up the ladder to someone who can. Good luck.

Permalink Reply by Dieter Diaz on April 7, 2011 at 7:04am

We just closed two of them with the same incentive. From what Chase told me these are California properties and the note or debt is owned by Chase. Mailers have been sent to the homeowners that are pre-qualified to receive this incentive. Other banks like BofA and Wells Fargo are also going to be doing something similar to promote short sales.

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