Just the other day (February 29th Leap Year to be exact) I closed on a short sale transaction as the listing agent. My sellers lender happened to be J.P. Morgan Chase and as many people have probably heard about the short sale market...the big commercial banks TAKE FOREVER to get through the short sale process (more like a "long sale"). Typically you hear stories of deals taking anywhere from 2-6 months and then sometimes even longer.
Well after just closing with CHASE, I must say I have to give them a big round of applause and their well deserved KUDOS!
CHASE provided me with a private negotiator who I could call and speak with on a regular basis. If he did not answer, he would usually get back within 24 hours maximum, if not the same day. Our first offer was withdrawn by the buyers because they got cold feet after 30 days and wanted to move on to a typical home sale. Just a few days later we received our second offer...
36 Days Later....
We Closed! That's right...Chase was so efficient and well organized that we were able to go from CONTRACT to CLOSE to just a mere 36 days, which as many of you will know is even faster than many typical home purchases in today's market. My sellers and I were of course thrilled, but as you can imagine the buyers where estatic! They got a great deal and even mentioned "this was smoother and faster" than the last time we purchased a home.
I really wish and hope more banks move into this direction so we can speed up the short sale process to help move the stagnant inventory of homes. If we can push through this mess the housing market can begin to move forward into a steady, positive direction. So once again, I want to give praise to J.P. Morgan Chase for providing my sellers, myself, the buyer's agent, the buyers and the attorneys a stellar short sale transaction. Hopefully this will spread some light on the market and give hope to other Realtor and home sellers that are dealing with the overbearing inventory of short sales!
Sean S. Williams
Licensed Broker, Realtor®, ABR®, e-Pro®
1st Time Buyer & Relocation Specialist
of Louisville, Kentucky
"Eat. Sleep. Real Estate."
*Serving the Louisville, Kentucky & Surrounding Areas.
Trust in a dedicated Real Estate professional to cater to your needs.
Accredited Buyer Representative® , e-Pro®, First-Time Home Buyer Specialist & Louisville Relocation Specialist.
I would love to assist you today!*