Consumer complaint received 2016-05-18
Product: Mortgage — Other mortgage
Issue: Settlement process and costs — 
Company: JPMORGAN CHASE & CO. (NY)

XXXX/XXXX/16 Purchase offer in the amount the home was listed for, {$500.00} deposit, and proof of funds submitted to XXXX ( Listing Agent for the property ) by my XXXX XXXX. 

XXXX/XXXX/16 XXXX emailed XXXX to inquire as to whether the bank had made a decision in accepting my purchase offer who then informed XXXX that the bank had made a counter offer asking for a {$2000.00} deposit be placed on the home. I drove to XXXX 's office that day and made out the additional check that the bank was requesting. 

XXXX/XXXX/16 XXXX called XXXX to confirm the status of the purchase offer. At this time she was informed that the bank would accept the {$2000.00} deposit but only if I agreed to move the closing date from the original XXXX/XXXX/16 closing date on the purchase offer ahead to XXXX/XXXX/16. I agreed. 

XXXX/XXXX/16 XXXX emailed XXXX inquiring to the status of the updated purchase agreement from Chase. At that time XXXX was still waiting to hear back from Chase. 

XXXX/XXXX/16 XXXX received the updated purchase agreement and forwarded it to me. 

XXXX/XXXX/16 I signed and faxed the purchase agreement to XXXX who then faxed it to XXXX. 

XXXX/XXXX/16 XXXX emailed XXXX after being unable to get he on the phone to inquiring as the the status of the contract agreement. XXXX informed XXXX that I would need a signed contract from the bank by XXXX/XXXX/16 in order to ensure that the funds for closing would be available for the XXXX/XXXX/16 closing date ( In order to withdraw the remaining funds I need a signed contract agreement ). 

XXXX/XXXX/16 My attorney XXXX drafted a letter regarding my need for a signed contract in order to close and it being the banks responsibility if closing did not occur on the stated date due to their failure to provide documents back in a timely manner to be sent but aside from XXXX, we had no other contacts to forward the email to. XXXX tried several time by phone and emailed XXXX inquiring as to the status of the contract agreement being signed, as well as requesting additional contacts for my attorney to forward the email to. 

XXXX/XXXX/16 XXXX responded to XXXX 's email stating she had just been notified by the asset manager at Chase that there was a title issue and closing date needed to be pushed back to XXXX/XXXX/16. She also stated that she still did not have a signed contract agreement but had notified the bank of the need for it. She provided the closing attorney 's contact information. 

XXXX/XXXX/16 XXXX emailed XXXX, XXXX ( Seller 's closing company ) requesting the signed purchase agreement. XXXX responded stating " I have yet to receive the referral for this file but I will let you know if I receive anything. '' XXXX/XXXX/16 XXXX was informed that the closing date now needed to be pushed back to XXXX/XXXX/16. 

XXXX/XXXX/16 XXXX received an " as is '' addendum reflecting a XXXX/XXXX/16 closing date. This also contained an addendum stating that I, the buyer was to be responsible for " all closing costs '' and stated that this addendum " supercedes # XXXX ''. # XXXX states that " both seller and purchaser ( s ) agree to pay their respective title/escrow/closing costs per local customary practice ''. I questioned this with XXXX and XXXX, as I felt this was an unfair addendum and did not have a full understanding of what it was the bank was trying to do. 

XXXX/XXXX/16 XXXX spoke with XXXX who informed her that there were no unpaid back taxes on the property and that their were no liens on the property. At this time we are unsure of what exactly the " title issue '' is. XXXX also clarified the stipulations of proposed addendum with XXXX who reported that the seller will pay for real estate commissions and agree to transfer a clean and clear title. XXXX also informed XXXX that they needed the signed contract back promptly. XXXX needs to review the contract before I agree to sign it.