Success Story: CHASE (2 loans) Short Sale Duplex Closed Escrow in Alameda CA

Success Story: CHASE (2 loans) Short Sale Duplex Closed Escrow in Alameda CA

Happy to report the successful close of escrow for this fabulous Victorian duplex in Alameda CA.

RESTORED
Victorian duplex was beautifully restored, remodeled and upgraded by the right person: a forensic engineer specializing in construction. Located just blocks from downtown Park Street shops, restaurants and theater.

The property was literally gutted down to the studs and was given new life. New sewer lateral line, new and upgraded electrical service, new water heaters, new copper wiring, new foundation, re-sided exterior, new double-pane windows, new exterior trim, new entrance doors, improved railing and pickets at stairs, new concrete driveways, new gates, new gas lines, new wiring, new sheetrock, new insulation, new sub floor, new central heating, new baths and fixtures, new kitchens and appliances, new blinds, new carpet, new marble and tile entrances, new downspouts, new skylight and new 2-car detached garage.

MULTIPLE OFFERS
Within days of putting the property on the MLS, we received multiple offers. The winning bidder agreed to a significant initial deposit and to immediately open escrow upon acceptance of offer and before receipt of short sale approval from the short sale lender, Chase.

INFO

• Chase held both 1st and 2nd loans.
  
• Challenges:
  
• Tracked file when it was transferred from one negotiator to another.
  
• HAFA documents not sent to Seller until we followed up. And then they send 28 copies of the same documents in one day
• Escalated to Executive Resolution Team.
• HAFA (Home Affordabile Foreclosure Alternative program) approved.
• Listed at $525,000, Sold for $540,000
• Closed escrow January 31, 2012.
• Buyer bought property for two sons to live in as owner-occupants.
  

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