Chase charging buyer $1,000 for postponed settlement?!
Settlement on a short sale (I have buyer) was postponed due to septic issues - which obviously cost my buyer extra bucks to get sorted out. Now Chase is saying they want an extra $1,000 since settlement was delayed.
Hello!? Buyer is already stretched thin due to problems, and they want more? Why are they jeopardizing this sale over $1,000 EXTRA? And in what world is the house now worth $1,000 more??
Anyone have any experience with this? The listing agent has a 3rd party working this, and they say the bank won't budge. I can't believe they would risk the entire thing over a BONUS $1,000.
Is this even legal/ethical?
HELP!
Replies to This Discussion
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Permalink Reply by Smitty on
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Are you sure it's not a per diem rate? You mean they want to charge a flat $1000? I have never seen it before. I've seen per diem rates add up but not anything like you are describing.
I've got one chase file now with 6 short sale extensions and approvals. Tell them to pound sand and you want to see something in writing from Chase demanding the $1000
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Permalink Reply by Jonathan Gordon on
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It's a flat $1,000. Per the negotiating company "He would not give the extension without the $1,000 fee on the HUD".
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