Home Buying in Tolleson>Question Details

Matryshka, Home Buyer in Tolleson, AZ

Addendum to question: Home 'under contract' 'sale pending', can a buyer offer it for sale before the property actually changes

Asked by Matryshka, Tolleson, AZ Wed Aug 17, 2011

hands from original ... Also in fine print: Buyer pays all closing costs. $2,500 earnest money deposit required and is non-refundable unless seller cannot perform. Properties sold on a first earnest money deposit first served basis. Property is sold “as-is, where-is and how-is”. So the 7K will be all profit unless of course, perspective buyers do their home work & discover the lender's appraisal came in at 65K which is why the original listing dropped from 75K. The replacement of the AC is expensive & the pool has been empty for about a year, not good news. Bottom line the flippers could have this place hanging around their necks like a dead albatross :)

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There are too many red flags here, the person with the answers will be the listing agent. i would ask them to explain their requirements.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Mon Oct 3, 2011
Matryshka,

The person or company taking this property into their name isn't necessarily doing it by will... they could be someone's second loan and be defaulting on the property, or....


If they are selling it for more than they are buying it, and it's only $7k, it sounds like they are trying to resell it and not lose money... not necessarily make money. They will have to pay quite a bit of closing costs, and it sounds like they are trying to cover it with that $7k.
0 votes Thank Flag Link Wed Aug 17, 2011
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