Chase Bank is aggressively pursuing short sales with some "under water" home owners.
Would you do a short sale for $15,000?
I must admit that I was a little bit skeptical when my client David called me about 3 months ago with a letter from Chase in hand. The letter said that Chase would pay my client $15,000 if we were able to successfully execute a short sale. The exact language that Chase used was:
You still have options, and we want to help. We have a new program that could be right for you. Don't lose hope--you may be able to avoid foreclosure and make a fresh start.
You may be able to owe nothing more on your mortgage and get $15,000 after you sell your home....
The seller signed the listing paperwork on 10/21/11, we received an offer on 11/7/2011, and we closed the transaction on 12/29/11. Wow. What a shocker. Chase was very pro-active and did a fantastic job. The buyer's agent was on the ball and the buyer and seller did what they had to do in a timely manner. Short sales are usually a challenge, but this one was fantastic. I would work with Chase again in a heartbeat. They were able to get a short sale done in about the same amount of time as a traditional sale... about 6 or 7 weeks.
Kudos to Chase. I would be happy to participate as a real estate broker in another Chase Short Sale.
My client got paid $15,000 for doing the chase short sale.
The buyer got an excellent price on a great house.