Bank Owned Duplex Back on the Market… I wonder why it fell through…

Who Knows Why it Fell Through… But it’s back up on the market and at a lower asking price too.

This duplex was on the market for just a couple of days about a month ago when it went into a “pending sale” status.   Well now… fast forward to today and wouldn’t you know it comes back on the market.  

When an REO/Bank Owned property comes back on the market…?   I’m pretty sure the reason is the previous buyer changed his mind on the deal most likely because of “condition”.

Why can I say that…?   Because….. It won’t be due to the Buyer not being able to qualify for a loan.  The reason for this is because either the Asset Manager requires the buyer to “pre-qualify” with their preferred lender, or the Buyer will have to get their own lender letter…  as a “requirement” before the Asset Manager for this REO/Bank Owner will even look at the “purchase offer”.

As you know once an offer is accepted, it is then that the “due diligence” period begins.  The Buyer has a certain amount of time to complete all inspections to discover any adverse problems such as “mold”… excessive “pest control” repairs.. to just name a few.

After a month of being in escrow it comes back on the market and they lower the price which means to me at least, the Bank is willing to deal a little.

Click here for the Cash Flow Analysis.

Click here for a slide show of the property with the surrounding area.

Click here for a Palm Video of the front and interior of the right side.

Make it a Great Day…

Email me at anytime at: favinger@rwnetwork.com

Mobile: 916-203-1260

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