I have been thinking of doing a new series here on the “Just Call Nick!” blog. You may have seen the SNL skits where they poke fun at stupid stuff… “Really?!” – Well, I tend to see, here 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. On Monday, she called Chase and told them the amount we needed to give to the seller’s. The account manager offered to provide an account balance but would not write a letter.
Feeling that the seller’s really didn’t need to know how much more money was in the account than necessary to purchase this home, the “legal” department was contacted. After another offer of providing a balance of the account, we still did not have the letter we wanted. The next morning, several hundred thousand dollars was removed from Chase and I had a letter, exactly as it had been requested. From a different bank.
So, Chase… How hard can it be to provide a proof of funds letter for a stellar client? Was that a smart move?
Update to 2019 and we find this 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.