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Seattle Bubble Forum Archive • View topic - List and sale price discrepancy

List and sale price discrepancy

Anything and everything relating to Seattle-area real estate.

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List and sale price discrepancy

Postby Alphynewman » Sun Nov 29, 2009 12:58 am

I am watching this town home for a while now. Today i saw a "SOLD" sign on the "For Sale" yard sign. Redfin shows the home sold for $361K on 11/05/09.

MLS # 29154791 for the same place (although Redfin shows a different home, the address of this listing and the previous URL match) lists it for sale for $240K and is still active.

Why would a condo listed for 240K sell for 361K?
Alphynewman
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Posts: 3
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Re: List and sale price discrepancy

Postby ira s » Sun Nov 29, 2009 8:31 am

alphynewman,
The 365,000 "sale" was the amount owed on the property plus late fees, penalties, etc. The place is owned by Fannie Mae, and the 11/09 date was the day of the foreclosure auction.
Since there was a lot more owed on the property than the place was worth, it reverted back to the lender, so it an REO, or lender owned property.
ira s
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Location: Seattle, WA


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