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Updated about 8 years ago on . Most recent reply

User Stats

14
Posts
1
Votes
Peter Thomas
  • Investor
  • Thousand Oaks, CA
1
Votes |
14
Posts

CHASE short sale timeline questions

Peter Thomas
  • Investor
  • Thousand Oaks, CA
Posted

We are buying a short sale just north of LA - there are 2 loans: 1st will get paid in full even though late, 2nd is HELOC with Chase and won't get paid in full.

BPO done early January.  Package entered on Equator.  Trying to figure out if we're close to getting a response on price. 

Chase recently asked for:

1. remove certain doc/misc. fees from HUD and remove "cash for keys" payment to seller.

2.  buyer to sign buying "as is" document (is this normal?)

3.  remove price range from listing.

Any ideas on where I might stand given these requests?

Thanks, Peter

Most Popular Reply

User Stats

1,293
Posts
500
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Brett Goldsmith
  • Investor
  • Los Angeles, CA
500
Votes |
1,293
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Brett Goldsmith
  • Investor
  • Los Angeles, CA
Replied

Sounds very normal and that you may be at the "counter stage". Once you pass this stage, they will ensure I's are dotted and T's are crossed prior to sending to management for a decision. 

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