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A motivated seller
Posted:
Fri Aug 28, 2009 5:55 amby rent for now
This listing has caught my eye...some rapid price reductions since coming on the market.
I wonder what the story is?
http://tinyurl.com/mb83vx
Re: A motivated seller
Posted:
Fri Aug 28, 2009 9:02 amby ira s
That house is now a short sale. Which means you might or might not be able to purchase the home at the current asking price, depending on whether the lender will approve the sale at that price.
Re: A motivated seller
Posted:
Fri Aug 28, 2009 11:14 amby Markor
Why doesn't Redfin note that it's a short sale? I assume the trigger for that is more than the list price being below the loan amount, since the seller could bring cash to the table.
If it's a short sale then that explains the rapid price reductions. The seller has nothing to lose.
Re: A motivated seller
Posted:
Fri Aug 28, 2009 3:38 pmby ira s
Why doesn't Redfin note that it's a short sale?
I'm guessing that the agent never changed the status as required to indicate that it is a short sale. They would have if it were a new short sale listing, but I think since it was listed prior to it becoming a short sale, the short sale indication merely went into the agent to agent remarks on the MLS not visible to the public.