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Updated about 10 years ago,

User Stats

20
Posts
3
Votes
Joe Ramirez
  • Rental Property Investor
  • Chicago, IL
3
Votes |
20
Posts

Bank Application Fee After Withdrawn Offer

Joe Ramirez
  • Rental Property Investor
  • Chicago, IL
Posted

Hi all,

Just wondering if this is common practice or my bank is trying to pull a fast one. A few months ago I put in an offer that was accepted by the seller. As such, my lender (Chase) started the actual application process. After the inspection revealed big structural issues, I withdrew my offer. However, Chase has not refunded my $655 application fee. I am currently in contract with another property and Chase has charged another $655. Is this normal? Should I really be charged for the deal that did not go through? 

Any info would be much appreciated! Thanks all!

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