A “Fixer” and a Short Sale
6128-30 Oakgreen Circle: If you have been here before, there is this one Bank Owned Duplex that I think has got to be one of the most interesting. It’s been on the market for about 2 years now.. part of the time as a Short Sale and now as an REO.
The original list price on this was about $250,000 and when it was listed at the previous price there had been some recent comparable sales near that price.
However after the bank took it over, there was an offer accepted by the bank that ultimately fell out of escrow.
Now folks… when a deal falls through these days, it’s rarely because the buyer didn’t qualify. It’s because after the “due diligence” conducted by that particular buyer, unresolvable issues have risen.
This means that after an analysis the Buyer turned down the property because he couldn’t get a big enough concession from the bank. But after a bit of time, the bank now realizes it’s over priced and they have since reduced the price a couple of times now.
Once you spend the money to fix this one up, you will have something very special.
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Below here are some Duplexes listed as “Short Sales”. I think these deserve a look as well.
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9643 Goethe Road, Sacramento, Ca – Listed now at $189,000.
Click here for a Pro Forma Cash Flow Analysis
After you have looked these over… I’d like some feed back on what you think of these properties.
In the mean time…? Make it a Great Day…!!
Ed Favinger, Broker CRS, GRI, SFR email@example.com 916-203-1260
- Which Banks Are Easiest To Deal with on Short Sales? (momblognetwork.com)
- Short Sales Listings for Sale Now Featured on Foreclosure.com (prweb.com)