CHASE - Has anyone requested a new negotiator?
I have a property that had about 4 showings and one offer. The offer came in after two price reductions.
Started at $140,000 - Reduced to $129,000 and then to $119,000
The property needs a LOT of work. Offer came in at $110,000 which was reasonable based on the reductions. BPO was ordered and we got a "picture taker" - The bpo came in at $160,000 and the negotiator told me in order for them to take a different offer I needed to get 3 comps within a certain radius. NO PROBLEM. Sent it FOUR comps within a 1-3 mile radius.
File gets sent to investor, DENIED "offer to low"
I explained over and over to the negotiator that the BPO was not done correctly. A 20 year old girl with a camera is NOT the same BPO agent that was listed to come to the property (I only found this out after the fact)
I finally spoke to someone in customer service who stated that I can wait 90 days and resubmit so they can order new appraisal.
I did. Now we have the SAME negotiator. Any ideas?
Replies to This Discussion
-
Permalink Reply by Becky Martin on
-
AS long as your BPO comes back close to your offer you should be ok, sounds like the negotiator was just following investor guidelines with the appraisal she had in hand but ignored the evidence you sent her since she wasn't authorized to order a new BPO, in a case like this it is helpful to talk to a manager....Personally I think you should always attend the appraisal to talk about the property condition and let the appraiser know the offer price, if this is a VA loan it might have just been an exterior BPO, make sure you find out who the investor is and what kind of BPO they are doing, a full interior appraisal or just an exterior drive by.
-
Permalink Reply by Kimberley Kelly on
-
I have had the highest BPO's with Chase. I always meet the appraisers at the property too, as Becky says..that helps. Unfortunately, the negotiator will rely on that BPO so be SURE to get it right. I have had the issue of an out of area BPO agent and also an REO agent that wanted the property to list as an REO later and ran up the BPO. Watch those BPO Agents like a hawk and be there to "help" them get the numbers right if you can. Good luck..
-
Permalink Reply by Smitty on
-
I was there for the BPO - that's how I know the BPO agent and the "picture taker" were not the same person.
-
Permalink Reply by Jeff Payne on
-
Smitty, was this an agent taking pictures? Did you unlock the door for them? In my area, it is a big No No if someone uses an agents lock box key.
In the future, you should ask for ID and if they are not the person who is supposed to be there, don't let them in,
Back to what you are facing. You should contact the Chase Executive Resolution team ASAP and plead your case with them.
-
Permalink Reply by Christina Conrad on
-
Jeff:
What is the Chase Executive Resolution team? Can I have their contact information?
-
-
They have a group within their executive offices that handle escalations. Alot of their emails got changed when they got bombarded for trying to foreclose on a deployed soldiers house.
try this one
Heather Joyner
Executive Specialist
800.242.7399 ext. 51279
713-262-1279 Direct Line
FAX: 281-915-0984
[email protected]
-
-
Jeff, it was because of THIS DEAL that I have currently confirmed ALL my BPO appts, via email and in the subject line written BRING PHOTO ID. I got hosed on this one. I made the appointment with a woman who said she had been in the business 10 years. When she showed up, the girl couldn't have been more than 20 years old, got out of the back of a beat up car with teenagers in the front...I TRIED to give her comps etc., but she just took pictures and left. The homeowner and I were in shock. I immediately went back and tried to look up this agents profile on the internet. No pictures but a website with 2 listings. I then IMMEDIATELY called chase and explained the situation and guess what?!?!? Yep...the negotiator didn't give a rats ^%$!
So now I'm on round two with this file. SAME negotiator. I've left messages for 3 days in a row without a call back. It's a joke. I can see how it's going to go.
-
-
First thing I would do is call the agent broker and tell them that you are going to deny access to anyone who is NOT the agent that was assigned and that you are going to report them. Probably not much you can do but maybe a threat will help for next time?
-
-
Ya...that's if I'm lucky enough to push this lazy negotiator to order a new bpo. It's been over 90 days, but who knows. She was absolutely NO HELP in the first round of this. I'm hoping now she will be. My homeowners got the $20,000 incentive letter too, so if she questions me about them not being in HAFA any more, I'll point that out. SHE kicked them out of HAFA...imagine that? Probably the best thing for them at this point.
Chase is quickly becoming my least favorite lender.
-
Permalink Reply by Kristy Hamilton on
-
Can you do a BPO and submit with your offer? Is the seller willing to order, and pay for, their own appraisal of the property and submit with offer? Just an idea. Chase is not one of my favorite lenders to deal with, either. Sorry that you are having such a difficult time with them. Maybe, it is time to call your local congressman on this one.
-
-
The buyer ordered an appraisal, and we submitted it. I even submitted Comps, CMA etc., and it doesn't matter.
-
-
Smitty's right..with Chase, it doesn't matter. I think they are hiring people for $7.50/hr. and giving them a leaflet entitled, "How to price a Short Sale" and letting it go..
© 2024 Created by Short Sale Superstars LLC.
Powered by
**********************************
like buttons