Foreclosure in Port Richmond>Question Details

Cheryl, Other/Just Looking in Staten Island, NY

I see agents showing a bank owned property, that foreclosed a few months ago. Yet I see nothing in MLS

Asked by Cheryl, Staten Island, NY Mon Jul 21, 2008

listings on the internet. also is it true that the house can take a binder and close in a week? I find that hard to believe unless the bank just wants to unload it.

Help the community by answering this question:


In my area one of the brokers that lists HUD properties waits the 3 day period to post them on the MLS. Any broker that checks the HUD site know they are available and shows them.
Most homes that HUD or VA have a 10 day offer window. REO property can be another matter and an offer may be accepted as soon as it's available but it will not be a low offer.
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1 vote Thank Flag Link Sat Jul 26, 2008
Cheryl, just wanted to add one aditional possibility, as agents we usually keep showing the house for back up just in case the current deal will not go through.
1 vote Thank Flag Link Sat Jul 26, 2008
Hi Cheryl,
first I would like to know: are you a realtor? because if you are then I can understand your question. To answer your question, it is possible that the offer was presented some time ago and the prospective buyer was already preparing to close on the home just waiting for the final acceptance.
1 vote Thank Flag Link Sat Jul 26, 2008
Hi Cheryl,
to answer question not every home is listed in MLS, exclusive listings can be part of a particular brokers inventory. Yes, a home can close in a week, while not common at all, if the buyer is purchasing the property all cash ( without financing) provided that all participants can perform the due diligence and deliver a clear title withn that time frame.
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1 vote Thank Flag Link Mon Jul 21, 2008
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