Winnie;
It may be faster if Chase owns the loan but not necessarily easier.
The purchase price will still have to be within a tolerance range of Chase FMV determination.
Thanks Davis. Even we submitted the comp but they rejected the comp. The inspection report came out at $100K need to be fix in order bring to code and habitable condition. Any suggestion to get help so we can resolve the issue
Winnie your reply to my response suggest that there is a lot more issues with this transaction than merely whether Chase owns and services that loan or not.
If an inspection report is reflecting a $100,000 in deferred maintenance or defects then sending Chase a sold comp will not work. Silly girl!
1. Have a contractor prepare an estimate of costs to repair on his letterhead then he must sign and date it.
2. Then have the buyer order a full residential appraisal report with that appraiser receiving a copy of both the inspection report and the cost estimate.
3. Then prepare a carefully composed and articulate cover letter disputing their value and submit with it the inspection report, the appraisal and the cost estimate to Chase.
Chase is reasonable when receiving intelligent document based arguments.
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