Does Chase give a 3% closing cost credit to Buyers?

Hello Superstars,

In your experience will Chase allow a closing cost credit to the buyer
in a short sale?
My attorney's office has a Short Sale Negotiator who handled the communications with Chase. I didn't see the entry in the HUD that was submitted and I was told it was denied.

The buyer is going FHA loan.

What are your thoughts?

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Comment by Brian Avery on April 2, 2014 at 5:25pm

It is not so much whether Chase will allow for closing cost credit vs the"Net Proceeds"  they receive from the short sale. Basically if the "Net Proceed" is adequate and there is room for the credit Chase would normally grant the credit. There may be be some investor restrictions. Sine Chase short sales are done on equator you should be able to see any counter or email from them if the credit was denied. 

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