Replies to This Discussion

Permalink Reply by Bradley Dunham on December 28, 2011 at 10:04am

Congratulations!

I closed one as well with a $30,000 incentive paid to the Seller at closing.  Sale was only $189,000! 

Double ended full commission but it took about 10 months.  

The Seller has another property in the same situation with Chase. I would like to see if I can get it included in the program.  Does anyone have an address or contact information for the head of Chase Short Sale Dept? Property is in Fremont CA.

 

Happy New Year to all you great agents that are out there helping the people who need us!

Brad Dunham

Fred Martin Team - Century 21 Alpha

 

 

 

 

Permalink Reply by Ben Benita on December 28, 2011 at 12:40pm

you have to ask Chase about it, but they call it the "Chase Invcentive Program", and, I think only Chase portfolio loans are eligible.....we have closed on 3 of them now....

Permalink Reply by Stephanie Greenberg on December 29, 2011 at 7:00am

Congrats!  I just closed 2 with Chase here in Fresno CA and they were wonderful to work with.  Fast and courteous.  One of the properties was set to foreclose end of this year and Chase accepted an offer of $22,000 paid 6% commission, city liens, and gave the seller a $10,0000 incentive an only netted $7,000 to Chase.  Crazy, I know.  Very unexpected.  I would love to work more Chase short sales.

Permalink Reply by Lola Traylor on January 13, 2012 at 11:03am

One of my coworkers had a Chase Shortsale with a 30K incentive.  Chase was the first and about 400K upside down.  There was a second that the seller owed about 60K to.  When the second saw the incentive to the seller they had a fit.  Demanded that the 30K either go to them or be taken off the HUD1.  Basically the second undid the 30K for the seller.  The seller was up in arms, but eventually settled down after getting 11K of the listing agents commission.  The 30K totally went away in order to get this deal done.  Any thoughts?  Anyway to keep the 30K info from the second?  California sale.

 

 

Permalink Reply by Ben Benita on January 16, 2012 at 9:50am

We had a CITI second as well and still got the Seller the $30k Chase incentive.....don't give up so easy.

Next time, post on here or contact me directly at [email protected]

You should have discussed the short sale issue directly with Investor on the second lien, circumventing the Servicer altogether.

We had to do this and were able to get $30k for our Seller....and, the agent GOT TO KEEP THEIR FULL COMMISSION!!!!

;-)

Most agents give up their commission WAY TO EASILY (giving up $11k in your case is just amazing)....upper level bank negotiators count on this, that is why they drag out the process and play the apparent games that they do.


Again, you can contact me off here if you want to discuss any of the above, or, post on here again.

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