Just had a Coop BOA close yesterday in Durham North Carolina . The seller incentive was $2500.00 and we were set to close at 2pm.I recieved a call from our closing coordinator saying we could not…Continue
Hi, We have an offer in with Litton that was countered so the buyers came up $20k. They need to close if possible by June 30th but the negotiator is not returning our emails or calling us back. Does…Continue
I had one close with Chase this month and the seller concession was $5k. We had the letter of approval from Chase and closing was all set. 4 hrs before closing the investor changed the concession to $1529.79 take or leave it..We…"
"My last 5 Chase written short sale apprvoals have been pretty clear.
There are certain lender fees will NOT be allowed (i.e. origination and many others fees) to be applied toward however many total dollars they approved for buyer paid closing…"
"Yes it did...
We had a full breakdown of all figures that Chase had agreed to with a required net amount we had to keep..
Our original HUD 1 matched the approval letter...
When we sent the final HUD 1 for for approval 72 hrs prior to close with…"
"So, I want to make sure I understand this. You're approval letter stated that the buyer could have $5000 in CC and your HUD1 was generated to reflect that, and then when you sent it in for approval, they said NO?"
"sorry, last thing....when escalating over last minute changes, be CERTAIn to usee words like:
"Fraud" or "Bait and switch"
to get the most attention from the higher ups.
Also, filing complaints with the OCC and OTS work…"
"Per above, simplest advice, send your prelim. HUD in as soon as possible for their approval.
Servicers do that stuff last minute so they can get more money for the Investor (remember, that is the SOLE purpose of the Servicer during a short…"
We even over estimated taxes so Chase had an additional $2k that was added to their required net. It was an investor decision last minute. Basically our closing coordinator said the investor would only cover certain buyer line items on…"
"I've never had this happen and to be honest am a bit surprised so many have encountered it. Did you have to have a final HUd approval somewhere between 48-72 hrs before closing? Did it get approved? I'm assuming that's…"
"Mike we had full approval which stated all terms and required net for Chase...
The investor basically overided the contract and approval letter we had and there was not a thing we could do other than not move forward with closing..."
The purchase price was $189k the closing costs approved were $5k we supplied a HUD 1 as a net sheet. The seller received a $1k seller incentive. A GFE was not requested and our closing coordinator gave us an ultimatum take it or leave…"
"Thanks for all responses...Short sales are so unpredictable and having closed so many it was just a shock that the investor decided to change the terms of the contract that was approved by Chase 4 hrs prior to closing it put everyone's back to…"
"I had this happen on one of my first short sales where I was representing the buyer - it was with Ocwen. The listing agent and I chipped in to cover the short fall but from then on I have never asked for credits. Our market is so…"
"I would suggest that you did not have "full approval" but I could be wrong. Full approval would be where Chase has sent you and your seller a letter that states the terms of acceptance which is in effect a contract between the seller…"
"It happens. Happy it was sorted and closed.
I just gave you info to one of members, Nedy Blanchard, for a referral in Durham. Here's her info if you want to reach out to her. She's an agent http://www.floridadigs.com/"
Now accepting referrals for North Carolina (Raleigh, Cary, Durham, Mebane, Graham, Chapel Hill,Pittsboro and all of Wake, or areas by request) 919-302-2403.
An Englishman with southern charm!
CDPE and SFR Certified with Short Sales ABR.
Originally from England, Julian has spent the past 14 years in the Triange of North Carolina married to Sonya with 3 wonderful children Reese 10, Vanessa 14 and Emmy 3 months.
In an area with so many opportunities and so much to offer, Julian understands why so many people like calling North Carolina home.
Julian devoted 10 years to traveling with Royal Caribbean Cruise Lines as Maitre'd, and continued working in the hospitality industry after coming to North Carolina.
He assisted in opening Spice Street restaurant in Chapel Hill as the general manager, and from there became part owner of Symposium Cafe in the newly renovated American Tobacco District in downtown Durham. Energetic and determined best describes his personality, and his greatest strength,by far, is customer service. It's what his career has always depended on. He continues to be committed to the service of people in real estate and his keen eye for business insures that no detail is left unattended to. "Trust is something that is earned", says Julian"and given the opportunity, I feel confident that I will surpass your expectations." Please feel free to contact Julian or visit his website for further information. You'll enjoy the process that leads you home.
Career Achievements and Professional Designations
Selling agent for Fonville Morisey for the Month of November & December 2006, January, April & December 2007, March & April 2008, November and December 2009.
Listing agent of the month of December 2006, January 2007, July and August 2008, August 2009 For Fonville Morisey
Fonville Morisey Chairman Club Council Member 2006, 2007 and 2008, 2009, 2010, 2011 and 2012 Awarded to Agents with closed sales volume between $5 million and $10 million.
Post License Courses
Graduate of Fonville Morisey School of Real Estate Licensing.
Graduate of Fonville Morisey Sales Associate Training Course. Board of Realtors
Board of Realtors
Member of Durham Regional Association of Realtors
Member of North Carolina Regional Assocition of Realtors
Member of National Association of Realtors
Member of Triangle Multiple Listing Services
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