Contacted by Chase to do a short sale

Has this happened to anybody else? I was just contacted by someone named Chris Lorenzo at Chase (she has a 7 digit extension?) -- she asked if I was familiar with Chase short sales -- you know, the ones where the seller gets $20K at closing -- I told her I am working on a BOA short sale at the moment where there is also a relocation incentive to the seller.

Long story short, she said she read about me on the CDPE (certified distressed property expert) website and she was wondering if I would be interested in taking a Chase listing. I said sure -- the next thing I know she patches the seller in to the call -- says to get her the 3rd party authorization and listing agreement asap - meeting with the seller on Thursday to do this -- just wondering if anyone else has had any calls from lenders out of the blue to handle short sales for them?

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Replies to This Discussion

Permalink Reply by Annette Whitehead on December 12, 2011 at 1:11pm

Yes, this has happened to me a few times. Chase is one of the most frequent lenders that have been proactive about directly transferring distressed sellers to real estate professionals, especially within the most recent 6-9 months.

Permalink Reply by Coleen DeGroff on December 12, 2011 at 1:55pm

Thanks for letting me know Annette -- my first question to the lender when they called was - "What's the catch?"

I thought it was some sort of sales pitch. :)

Permalink Reply by Ana Huffer on December 12, 2011 at 1:59pm

Yes, I had a seller call and tell me that he had spoken to Bank of America about doing a short sale and they gave him my information so I could list the property. I was very surprised to say the least. We got him approved for the incentives and just Eubmitted an offer. Everything going smoothly so far!

Permalink Reply by Steele V. Propp on December 12, 2011 at 2:12pm

Question. Are you being asked to pay any kind of referral fee to Chase or other party?

Permalink Reply by Coleen DeGroff on December 12, 2011 at 2:23pm

No.

Permalink Reply by Karyl Moore on December 12, 2011 at 2:24pm

It happened to a local realtor I know who had not done any short sales at all but he was a CDPE and that's where Chase got his name (he called me for advice). They gave the Seller $30,000 on a $120,000 sale.

Permalink Reply by Pat Chadwell on December 13, 2011 at 3:44am

Alex C from the Distressed Property Institute did talk on a webinar on just this fact! So he says pick up your phone if you get a blocked number or 800# you do not recognize. Nice to hear it is happening! Wahoo!!!

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