Friday, March 13, 2009

WF Bank Foreclosure.

WF Bank Foreclosure.
I have a home with Short Sale listing, offerred for sale at $225K .

We received an offer for the property at $210K.

This bank said they had it appraised for $230K.
The appraiser came all the way from San Diego to appraise this home which was
in Sun City. :(

My seller's family live in the home and they kept it up really well with landscape, garden, fountain. The interior is immaculate. It is only 3 years old.

There were about 10 REO properties in the neighborhood and the prices on the COMP are around $180 to $200K.

The Bank refused to approve the Short Sale and SOLD the property to another bank for $230K.

The new bank will probably put it on the market for $180-190K.

This is why one of the reasons, we have so many REO properties on the market.

There are many BANKs that have people who work there who doesnt care to extend themselves to help people!!

UPDATED: The home went back on the market for $169,000 and sold within a week.
Good job well toasted!! WF $169,000? A BIG FAT JOKE!