List and sale price discrepancy
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.http://www.redfin.com/WA/Bothell/24065-40th-Ln-SE-98021/home/22960841
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. http://www.redfin.com/WA/Bothell/24065-40th-Ln-SE-98021/unit-38/home/21962481
Why would a condo listed for 240K sell for 361K?
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. http://www.redfin.com/WA/Bothell/24065-40th-Ln-SE-98021/unit-38/home/21962481
Why would a condo listed for 240K sell for 361K?
Comments
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.