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?
Tags:
I was there for the BPO - that's how I know the BPO agent and the "picture taker" were not the same person.
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.
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.
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.
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.
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