Case of Severe SSS (Short Sale Sabotage)

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

Short sales are always rocky. One day they are as usual, which is fine, and some days they are a disaster. The fun with short sales is that when take it upon yourself, you do not know which one is OK, and which one is a disaster.

This short sale of a 2 bedr/2 baths beautiful condo in Marina Grande on the Halifax (MG on the Halifax) has celebrated its 2-year anniversary, and we had a string of denials. Chase did not even make an attempt to negotiate. They would tell us that it is denied because this and this, and if we change this and this it would have been accepted, but it has to be resubmitted.

And we do. And then they would go through the whole thing again, assign a negotiator, order yet another BPO, and it comes a penny different, they would deny again, even though the offer was exactly how they suggested. 

Why on earth are they even called negotiator when they never negotiate anything?

We turned to a law firm, which is the closing agent, and asked them to intervene. So, they called, and Chase assigned yet another negotiator and the manager promised to keep the case under her control and left a direct phone number for her.

They ordered another BPO, came with a crazy number, we contested, the attorney ordered certified appraisal, and everything went to Chase.

Finally we received this letter from Chase. It is sent at 6:18 PM on Tuesday (see image 1), October 4, and they want some more documents sent to them before the close of day on Tuesday. It is already the close of day, so I ask the law firm to contact the Negotiator and confirm that we are talking about next Tuesday, which happens to be October 11.

Chase_Letter1

Negotiator Stacy Parrish confirms it. We have all the documents on Monday, and we package them and on Tuesday the law firm sends it to Chase at about 3 PM both by fax and e-mail. And then they call the negotiator and confirm that they have received the documents.

On Saturday I receive frantic call from the Seller. She received the letter from the negotiator dated Monday October 10, that the case has been cancelled because the requested documents have not been submitted. The letter is signed by the same negotiator, who gave us until Tuesday, October 11 to submit these documents and who on the phone has confirmed on Tuesday that everything was fine while she sent this letter to the Seller one day earlier.

Case of Severe SSS

On Monday the Attorney's assistant confronts Chase. Yep, this is wrong, sorry, they have already reopened the case, Stacy is in trouble, and it will be assigned to someone else, but it is not starting from scratch, and we need to give them until Friday before it is assigned.

On Friday the girl from the law office can’t get any answer, On Monday – no answer… On Tuesday I call and get to the CS. No open case. 

Hasn’t it been reopened? No. The CS girl transfers me to the Short Sale department. Kathy (no ID number, no last name) goes through usual verification, and then tells me that apparently we did something wrong so that the case has been cancelled.

I am trying to tell her that I have both letters in front of me, and the only apparent thing is that they have screwed up, but that … wonderful lady keep telling me that apparently we are a bunch of idiots, as the case was cancelled.

I can’t take it any longer, I yell, she calls for her supervisor. Luckily Christine Engram (maybe Ingram) has brains. At least you can talk to her without listening to the humiliating insinuations about our apparent inability to please the negotiator.

Well, you can vent yourself till you die, the only thing that Christine can do is expedite the case, so it is reviewed, but hey, we have been doing this so many times and why should I believe that anything would change.

I found the Executive CS Contact and forward the message to her. No answer. I called the supervisor of that negotiator (Mr. Jones) in Jacksonville office and left a message, and, of course, no answer.

I hate the word “Apparent” used by that Kathy. For me the only apparent here is an attempt to sabotage the short sale.

If anybody knows where Chase is hiding its balls, so that we can grab and squeeze them in masochistic vendetta, please, let us know, we would appreciate it very much. Apparently, doing it would be the highest form of enjoyment for all parties involved in this case (except, probably, for Chase).

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Show All Comments
Rainer
129,442
Maureen Fukumoto
Help-U-Sell Realty Pro - Mililani, HI
Maureen

Jon, I don't take short sales anymore unless they are friends or former clients.  It's way too much time and aggravation. 

Oct 27, 2011 03:47 AM #7
Rainmaker
1,866,751
Gabe Sanders
the BlueWater Realty team specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Just when it seems that short sales are getting a bit easier and more streamlines, I hear your story and I wonder!

Oct 27, 2011 07:48 AM #8
Rainmaker
825,819
Nicholas Goglucci
South Florida Real Estate & Development, Inc. - Pompano Beach, FL
The Listing Whisperer

Jon - One day we shall sit down and talk about all the short sale battles we have fought together, it should be a fun day.

Oct 27, 2011 07:58 AM #9
Rainmaker
523,186
Jill Sackler
Charles Rutenberg Realty Inc. "Said and Done!" - Merrick, NY
Long Island's South Shore Real Estate Agent

Oy vay! Those are the only words that can adequately express my reaction to your story. Good luck figuring out this one.

Oct 27, 2011 08:28 AM #10
Rainmaker
317,345
Kathy Torline
ERA Herman Group Real Estate - Colorado Springs, CO
Colorado Springs Real Estate Blog 719-287-1049

It's an appalling process.   I feel your pain.

Oct 27, 2011 10:04 AM #11
Rainmaker
591,128
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Jon,

All we can do is sympathize.

Nothing else we could say is reverent to this case.

You're dealing with Chase!

The term "Negotiator" as used in real estate has no symularity to any known definition.

You're dealing with a "Negotiator III" that implies he's three times as impediment.

Banks don't allow you to contact anyone with authority.

Good luck!

Bill

 

Oct 27, 2011 11:31 AM #12
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Pamela - I did not think about it. Maybe they are just playing Halloween?

Oct 27, 2011 06:09 PM #13
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Mark - they just do not care. They have a checklist and all they care is that everything is in the file.

Oct 27, 2011 06:09 PM #14
Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Michelle - I would feel so much better if there was any reason in how they are handling it. Unfortunately, there isn't any.

Oct 27, 2011 06:10 PM #15
Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Ben - thank you so much for the offer. I have received the call from the Executive Office today, and was told that they will get to the bottom of it, and there is a person assigned to that, so we are waiting until November 3.

I will keep your contact information.

Thanks

Oct 27, 2011 06:13 PM #16
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Maureen - needless to say that I envy you

Oct 27, 2011 06:14 PM #17
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Gabe - and this is really surprising, you are right.

Oct 27, 2011 06:15 PM #18
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Nicholas - and if we put it in writing, we will beat Leo Tolstoy in volume and Theodor Dostoyevsky in suspense

Oct 27, 2011 06:16 PM #19
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Jill - my mom did not know a word of English, but your "Oy vay!" just knocked me down, it was so my mom.

Oct 27, 2011 06:18 PM #20
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Kathy - it should not be if they were negotiating and not just thinking of CYA

Oct 27, 2011 06:20 PM #21
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Bill - thanks. Itis like dealing with poorly trained robots. If they are not operating properly, it is useless to talk to them.

Oct 27, 2011 06:22 PM #22
Rainmaker
977,580
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Jon, i know where they are - come on up and we can sit outside and wait for them to exit the building or go in and demand that we speak with someone with the authority to make a decision!

Oct 27, 2011 11:47 PM #23
Rainmaker
107,127
Cathy McAlister
Cathy Ashley McAlister, GRI CDPE - Broker / Sacramento - Sacramento, CA
Sacramento DRE#00648507

 

It's always about the wearing down of the opponent.  Who can go the 9 rounds with the banks.  Banks rarely go 10 rounds as they always want to keep up the image to the government that they are trying to assist.  Many agents and seller's cannot go nine rounds with the banks.    Keep swinging Jon, real hard and real low.

Oct 27, 2011 11:49 PM #24
Ambassador
1,338,414
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Sharon - ha, you really may know where they are. This darn office where Stacy works is in Jacksonville. Cool

Oct 28, 2011 02:12 AM #25
Ambassador
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Cathy - if you think I have a better explanation, I don't. it seems the only logical if there is any logic here. You are right, we are at a point when I do not feel comfortable calling the Seller and telling that we are again at square one.

But we will fight. Today I have received the phone call from the Executive Office and a lady told me that she is assigned to "get to the bottom of it".

I hope she does not drown.

Oct 28, 2011 02:16 AM #26
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