Replies to This Discussion

Permalink Reply by Dieter Diaz on April 7, 2011 at 7:06am

And yes the HAFA incentive will also be paid as one is coming from Chase and the other is coming from the government.

 

Permalink Reply by Leslie Carrero on April 11, 2011 at 8:15am

I was just sent a $35K offer from Chase if I faxed in my listing agreement for short sale by 4/25...I still need to call as it says there are "terms" on the offer .

Permalink Reply by Leslie Carrero on April 11, 2011 at 10:53am

Oh sorry, should have clarified... I was offered as the seller

Permalink Reply by Dieter Diaz on April 11, 2011 at 10:59am

I guess I also have to clarify that those were two completely different sellers. And this incentive is only for owner occupied purchase money loans. More information can be attained from Chase directly.

Permalink Reply by Guy Giuffre on April 11, 2011 at 5:00pm

Not necessarily. The one I did was neither. 

Dieter Diaz said:

I guess I also have to clarify that those were two completely different sellers. And this incentive is only for owner occupied purchase money loans. More information can be attained from Chase directly.

Permalink Reply by Dieter Diaz on April 11, 2011 at 5:05pm

As I specified lastly contact Chase directly for more information.

Permalink Reply by Karen on April 18, 2011 at 8:17am

got my Seller 23,000 Christmas in April...

Permalink Reply by Barbara Pedersen on September 8, 2011 at 7:01am

My client was offered $30,000 Chase incentive plus $3000 HAFA relocation. He is currently considered under HAFA.

1. Does anybody know if these incentives can cover part of the closing costs? It looks like our closing costs will exceed what is allowed by HAFA.

2. If this goes traditional route - can part or all of Chase incentive of $30,000 be used for closing costs?
I would be grateful for any input/experience.
Thanks a lot.

Barbara

Permalink Reply by Shannon Noble on September 9, 2011 at 11:29am

I rec'd one yesterday as well, $23,000 to sellers, yeah!

Permalink Reply by Pacita C Dimacali on September 15, 2011 at 11:40am

I represented the buyer on a property where the sellers received $35k incentive from Chase to close (this was on a $1M sale of a property that was worth $1.3 under normal circumstances).. That was a hairy one and took 4 months from beginning to end. Negotiator yanked the approval just 2 business days before escrow closing because the listing agent pissed her off. The agent was ,merely asking for approval for the tax lien to be paid by contributions from all parties. Negotiator said she'll proceed with the transaction if we close the following day, otherwise, everything is voided and we have to start all over again. We scrambled to get the transaction back on track and got it done.

 

Pissy group of people!

 

 

Permalink Reply by Debra Enos on December 27, 2011 at 4:08pm

Congrats!  I just closed a fixer/small townhome in Orange County/SoCal that sold for $280,000 (appraised at this price, too), and Chase gave the Seller $20,000 and paid nearly $7500 in back HOA, plus property tax. There are so many homeowners are receiving "Incentive Letters" from Chase making a cash incentive offer, if they do a short sale and cooperate in the process.  The sad thing is that they aren't opening the letters!  I asked my seller at listing if she had received any letters from Chase, and she said she was so depressed about her situation that she stopped opening Bank related letters long ago...I automatically asked for $10,000 for seller relocation, based on sales price.  That was the ONE line item that the Chase negotiator changed.  The description was changed to "Solicitation Incentive to Seller: Insert Seller Name" and increased to $20,000, as this had been offered to her.  The bank had referred me to the seller, giving my name and phone number....because they were about to foreclose and encouraged doing a short sale to stop the sale. She called me immediately and I listed the property that night. We had a lot of showings an accepted offer within 2 weeks, and a backup offer...Chase was also informed that we had the backup offer, which was $5000 less. She came so close to foreclosure and losing out of the $20K! Don't forget to advise your seller to talk to their tax advisor on their new found money.  I told my seller that this is a fairly new offer and we have no idea if the "$20k" is going to be considered taxable income, so not to spend to much until she finds out.

Permalink Reply by Victoria Frieberg on December 28, 2011 at 2:12am

Wow!  So, did you do something to get Chase to begin referring sellers to you?  Just curious, I am a recent CDPE, old SFR and a bunch of other alphabet letters, as well as broker of a small brokerage...wondering if they are favoring a particular franchise, or designations?  thanks!

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