You have to push on your Short Sales to get things done for your clients!
Well, we survived another Short Sale battle. There wasn't a doubt in my mind that we wouldn't-the issue didn't make any sense.
At the last minute-I.E., day before closing, the negotiator with Chase bank, who mind you, had been on top of communication until this point, received the final settlement statement for closing. She said that investor would not allow prepaids for the buyer to be paid by the seller/bank on this file. Prepaids??? We have closed dozens and dozens of files where the seller/bank paid prepaids on the buyers behalf on the HUD.
I immediately told our title company that I would handle it. I called our sellers to let them know the issue, as well as the buyers agent, in case I was still pushing powers that be, morning of closing.
I left an urgent voice mail for our negotiator letting her know that this $1600.00 issue was going to kill our deal, and that if it was Chase's stance to not pay borrower prepaids:
1) It should have come up before now-they had the purchase agreement for two months.
2) If it was Chase's stance, we needed to go to whomever, right now, to get an exception.
She told me to call her supervisor.
I called Chase's Executive Resolution and they let me know that FNMA was the investor. I knew if I didn't get anywhere with Chase, I was going to FNMA. If something makes good business sense, it should be done, period.
I also left a message for one of Chase's Executive team to see if they could assist.
I knew the conversation with her supervisor was not going to go well, or he would have picked up the phone or had the negotiator allow the issue to be resolved at that time.
I called him, and was met with one of the strongest personalities I have ever come across in Short Sales, and I have come across PLENTY.
He demanded to know what the issue was, and I told him Chase wouldn't allow prepaids to be paid by the seller/Chase on this short sale. We went round and round-I thought he was trying to have a jousting match, he on his soapbox, me ready to call anybody in the country to get this file closed.
I can honestly say, if it wasn't for my title insurance/closer background, he would have bulldozed me with his fast pushy talking.
I held my ground and he finally figured out "another" way to appropriate the $1600 on the hud and ask what in the world the issue was. I explained his negotiator said this HUD was not okay, that was the WHOLE issue. We got the issue resolved, the HUD remained the same, and we are closing on this file in a couple of minutes.
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If you are behind on your mortgage payments and thinking of doing an Indianapolis Short Sale, Franklin IN Short Sale, Greenwood IN Short Sale, Avon IN Short Sale, Westfield IN Short Sale, Carmel IN Short Sale, you need a persistent experienced agent that knows their way around a short sale. Someone doing their first one, is not going to have the same knowledge as someone with 50 closed or 100 closed...
Agents who have not done a Short Sale-in fairness to your client, you should partner on your first several with a very experienced Short Sale agent. Read all that you can on Short Sales, and know that each Short Sale will bring a different set of guidelines or challenges, and that is what we are here for!
If you need assistance with your Indianapolis IN Short Sale or Indianapolis Real Estate, or surrounding areas, give us a call today. 317-885-8858
About the Author: The above info regarding Indianapolis Short Sales was provided by: Heather Fitzgerald, who has over 15 years of experience in real estate, title insurance, and lending that can be put to work for you. Heather can be reached by phone at 317-885-8858. Thinking of selling your home or buying your next home? We can help you with this. I service the following areas: Greenwood IN Real Estate, Indianapolis IN Real Estate, Franklin IN Real Estate, Whiteland IN Real Estate, Mooresville IN Real Estate, Martinsville IN Real Estate, Avon IN Real Estate, Carmel IN Real Estate, Westfield IN Real Estate and surrounding areas. We are experienced Greenwood IN Real Estate Agents.
We have also closed numerous Short Sales: Greenwood IN Short Sales, Indianapolis IN Short Sales, Avon IN Short Sales, Mooresville IN Short Sales, Carmel IN Short Sales, Westfield IN Shortsales. Check more properties at no obligation: www.SmithFitzgeraldTeam.com
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Heather Fitzgerald- Indianapolis Short Sales. All Rights Reserved.