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Our offer got accepted by the seller on July 11 (out of multiple bids). The BPO was done by July 18th.
On around July 20th, the listing agent told my realtor this via email: 'Chase is moving this sale through fairly quickly.' and also said that a negotiator had already been assigned and that we would have an answer from Chase (yes or no to our offer) within 14-21 days. Well, the 21 days came and went on August 10th. And nothing.
Is this normal/expected? We have all the time in the world but the curiosity is hard to bear!
Is no news good news? Or, is 6 wks and no news, the norm??
Six weeks is nothing - six months is common, and over a year is possible, as is a higher counter-offer from the bank, even though the "seller" accepted your offer. Don't put all your eggs in one basket - keep looking...
Six weeks is nothing - six months is common, and over a year is possible, as is a higher counter-offer from the bank, even though the "seller" accepted your offer. Don't put all your eggs in one basket - keep looking...
I like your answer and will not want to buy these houses because there's a lot of waiting time.
We were told 60 days to 6 months~of course the seller accepted our offer, the mortgage and short sale is controlled by the bank at this point. Thankfully I don't need to move~we just really liked the house and neighborhood, so thought we'd make an offer on the house and then chart our course.
We have closed with Chase a couple of short sales and they are the best, they work fast. But it comes down on the sellers agent and if that person is sitting near a phone and just leaving voice mails, then add 6 more weeks...you need a sellers agent who tries everything just as we have done in all short sales with Chase and that way you can have answers fast.
Also sellers need to provide all papers at once and not every time one paper since then it will take way longer....Get a supervisor involved and it will move. Chase is the best to work with, only their closers are not all that great.
We put a offer in on July 26th/11 and before the seller accepted the offer the listing agent sent it to the title company that is doing the negotiating then the seller accepted our offer on Aug 12th.. The house already had a bank approved price at 123,500 We offered 119,500.. I'm sick of waiting and just want to get a answer the listing agent said it wouldnt take long since Bank Of America already approved the price .. I'm just wondering if the title company already sent the whole package to the bank or what! Our realtor seems to not know anything and when i call she acts like a major Bleep... We had a question about hurricane shutters and she acted like she didnt want to answer the question and just said to me well was it on the MLS in a real mean tone! I feel you on the waiting and it sucks!!! the house has been on the market 181 days and I hope they dont foreclose ..
We have closed with Chase a couple of short sales and they are the best, they work fast. But it comes down on the sellers agent and if that person is sitting near a phone and just leaving voice mails, then add 6 more weeks...you need a sellers agent who tries everything just as we have done in all short sales with Chase and that way you can have answers fast.
Also sellers need to provide all papers at once and not every time one paper since then it will take way longer....Get a supervisor involved and it will move. Chase is the best to work with, only their closers are not all that great.
We can't wait to get another Chase short sale..
What is the average waiting time for Chase approval ?
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