4 things to try:
1 -- see how much cash it will take to make it go away? Many times throwing some cashola at the ivnestor will make them remove the language
2 - Seldom used, but VERY effective, get in touch with the legal department at Chase and discuss having them remove it. There are some hoops to go through, but, it often works
3 - Simplest - ask your negotiator how long he/she will keep the file open while you look for a new Buyer. Tell them:
"I realize your ivnestor needs the right to file deficiency, but, teh Buyer is fed up and wants to withdraw now b/c of the continued delays...... ___________(negotiator), can we keep this file open for a few more weeks while we try to work something out?"
4 - Ask about just converting to a deed in lieu (this is of course a bluff). Tell your negotiator (and also his/her supervisor via e-mail):
"In light of the ivenstor wanting to file deficiency, my Seller would now like to just deed the property back to you via deed in lieu......can you explain what we need to do in order to convert..."
Again, if the bank thinks for a SECOND you will actually do this, and just let the home go, they often come around and will bend on whatever you need.....
Keep Us Posted!!!
Sincerely,
Ben Benita
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