CHASE Short sale approval submitted to investor over 30 days ago - HOW MUCH LONGER?

I have a short sale submitted to chase in mid April.  Towards end of June negotiator requested changes on HUD and advised me that file was being sent to investor for review.  I am still waiting, and tell me they cannot do anything to hurry up the investor. does anyone have any tips on how i can get this file finally reviewed, buyer wants to walk

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You need to find the investor and prod them. FHA, FMNA, Freddie? The negotiator works for Chase who works for the investor. Most investors have lousy control over the banks, but that doesn't seem to be your problem.

SS's are in no way a priority for the bank, who gets paid for "maintaining" the file, not in SSing it, and gpv't investors are interested in bailout money, not much in managing their duties, so vacations become a good excuse, too. Be careful of that - it can add a week or two for either the bank or the investor.

Hi Ana, What state are you in??? Email me please: [email protected] may be able to assist your cause...jan

Ana,

A lot of us have been in this situation. My only recommendation would be that you just need to be very transparent with the buyer. They have been patient for so long now, its just a matter of days at this point. Show the buyer your call activity log with names, dates and times that you have followed-up. Show that you are very forthcoming regarding the status of the file, that you are doing your very best to get this approved and closed and you may even wish to include the buyer (with certain permissions) muted on a call you make to the investor regarding the status.

Transparency is key and the buyer will be more likely to give you the space you need so long as you show how up front, honest and transparent you are. They just don't want to waste their time or tie up their money. Best of luck!!

 

 

 

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