Hey Chase – “Really?!”

sellers watching home buyers

Really, Chase??

I have been thinking of doing a new series here on the blog.

You may have seen the SNL skits where they poke fun at stupid stuff…Really?! – Well, I tend to see, hear or come in contact with some pretty interesting stuff in my real estate business and in life in general. So, I’m going to start writing a few of em’ down.

The first example happened on a recent weekend when we successfully negotiated a cash sale on a really nice home in the east valley. As part of the contract, we agree to provide a “proof of funds” letter from my client’s bank.

Chase Bank Denies Simple Request:

The following Monday, our client called Chase and asked for a letter stating that she had enough funds to cover the purchase of the home. She also gave them the specific dollar amount needed to provide to the seller and why she wanted the letter.

The account manager offered to provide an account balance but would not write a letter for her.

Feeling that the seller didn’t need to know how much money was in her account to purchase this home, the “legal” department at Chase was contacted. After another offer of providing a balance of her account, she still did not have the requested letter.

The next morning, several hundred thousand dollars was removed from Chase Bank and I had a letter, exactly as it had been requested. From her new bank.

sellers watching home buyers

So, Chase… How hard can it be to provide a proof of funds letter for a stellar client? Was that a smart move?
Really!?

Update to 2019 and we find another head scratcher from Chase Bank over on Mashable:

Apparently, people don’t like being told how to spend their money. Especially from a huge bank who was given a massive bailout.

Who knew?

Nick Bastian
Nick Bastian
Nick Bastian is a 28 year veteran of the real estate industry and enjoys his career very much. Nick is always available to "talk shop" with anyone that may have real estate related questions. "Just Call Nick" at 602-803-NICK (6425) - he's glad to help. Nick can also be found over on Instagram and Twitter ( @NickbastianAZ ) or out and about in the community making friends and having some fun.

2 Comments

  1. Tyler Hurst says:

    Hey, so Chase let a $1300 charge go through on my personal account. Never mind I’ve never charged so much as $300 on that card and oh…the charge was from Alabama.

    If I’d had fraud protection, it would have been flagged they tell me. Didn’t I sign up for that? Why would I have to?

  2. ian says:

    trying to get a proof of funds letter from chase today. the account summery is all they will provide I tried to explain that this shows a much higher balance than the asking price but they could not get there heads around it. tried two different branches REALLY CHASE @@@@

Leave a Reply

Your email address will not be published. Required fields are marked *