Replies to This Discussion

Permalink Reply by Katerina Gasset on June 14, 2010 at 5:01pm

You go Girl! It is all about the question, the negotiating skills and the willingness to ask.

Permalink Reply by Ben Benita on June 14, 2010 at 7:39pm

Really, you had the nerve to tell them "no" and it worked.....nice job....keep kicking butt!!!!

;-)

Can not emphasize this enough:

"it is about short sale NEGOTIATIONS".....not just accepting what is told to you or offered to you.

Permalink Reply by Rosemary Brooks on June 14, 2010 at 9:53pm

Elizabeth, did you ask for it right up front or after you received their approval letter? Either way, its a thumbs up for your skills and the homeowner and yes.... Chase too!

Permalink Reply by Kent Dills on June 15, 2010 at 1:54am

Good job Elizabeth! I'm also interested in knowing did you ask for the waiving before or after the Approval Letters were approved?

Permalink Reply by Sharon Alters, CDPE, GRI on June 15, 2010 at 2:45am

Elizabeth, that is great! If you don't ask, you don't get!

Permalink Reply by ElizabethWeintraub00697006LyonRE on June 15, 2010 at 2:56am

When Chase sent the initial approval letters, both said that Chase was not releasing the sellers from liability. I told Chase that the sellers were withdrawing the listing, canceling the purchase contract and this was headed for foreclosure unless Chase would agree to remove the deficiency verbiage from its approval letters. I really did not expect to get it. What Chase said was, "Why didn't you ask for this in the first place?" And it submitted the file for management review. In less than a week, I received the approvals without the deficiency language. Of course, now the buyer is gone. But what the hey, I'll get another.

From now on, I'm going to submit all my approval requests with language that says we will not accept a deficiency. I mean why not? What have you got to lose?

Permalink Reply by Ben Benita on June 15, 2010 at 4:25am

With deficiency, we normally do not push hard on that removal until we get closer to closing.....
On our fax cover pages, we used to put in:
Seller will NOT bring cash to close
Seller will NOT agree to deficiency
etc.
but, most negotiators were pushing back hard (like telling them you are an attorney or trying to "strong-arm" them)
Best move we have found -- ask the higher ups for the no-deficiency language a little farther into the short sale process
....