Home Buying in Coral Springs>Question Details

Nikki009, Home Buyer in Coral Springs, FL

Can someone just give me a straight answer on a property?

Asked by Nikki009, Coral Springs, FL Tue Jun 1, 2010

The address is 223 nw 121 terrace, coral springs florida. When I called the listing agent in regard to the property we were told it was a short sale but pushed in the direction of other properties & given the run around, less then 12 hours later we received an e-mail telling us that property was no longer for sale yet but of course they wanted to show us a bunch of other properties...even after I made it clear I was only interested in this property... court records and bcpa show otherwise, that the home hasn't been sold, foreclosed on/nothing... Should I just go knock on the owners door and find out directly from the source.. I'm getting tired of contacting real estate agents about particular properties only to be pushed in another direction.This is the house I'm interested in and would like a straight answer from someone.

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Straight answer home is not available. They may be trying to modify and keep their home these are distressed sellers if they were considering a short sale. Put yourself in their position and ask yourself what your reaction would be if a stranger knocked on your door demanding to know what the status was. If you are being told the property is not available then that is the end of it. They are steering you to other properties because they are being helpful. Get yourself an agent that can show you properties that are available.
1 vote Thank Flag Link Wed Jun 2, 2010
Is it possible for someone on this website to look into the specific address and just let me know if it is still for sale as its still on this website.... and if so who the listing agent actually is....Its a shame this Realtor is using a fake property to lure people into his office if that is the case. I was told by his assistant it was still available & a short sale but then his boss e-mails me later in the day saying it is no longer for sale.... Can someone just get an answer on the address for me... all I need is a confirmed yes or no.. thanks guys
0 votes Thank Flag Link Thu Jun 3, 2010
Dear Nikki,

If the house is truly listed as "active" in the Realtor MLS system (your Realtor can verify the current status), then there is another possibility of why you're getting the run around.... fraud.

I've seen many listing agents and sellers and 3rd party middleman investors (or option holders) who will engage in what I believe is fraudulent activity. The insider investor pays the seller a certain amount of cash to "go along" and the investor then submits a lowball offer with fraudulent, overpriced repair estimates. Some listing agents may be evasive and not reveal what is truly going on.

The FBI is cracking down on these scammers and also lenders are now requiring more information from the buyer on the contract to prevent fraudulent short sales.

Good luck and should the seller accept your offer on a short sale, do not think you will actually ever close. The probability of a short sale closing at the asking price is slim because most are listed at an unrealistically low asking price.

Good luck!
0 votes Thank Flag Link Wed Jun 2, 2010
With only 1 in 4 short sales getting approved in most areas, once the foreclosure process starts, a short sale is all but impossible. The agent may know the sellers condition but can not disclose it to you due to privacy rules. In addition if the seller is not willing to assist in the short sale it would never get apporved, both of these could be teh case.

In most cases the owner owes more than the house is worth, in a short sale the bank reduces what they owe so they can sell. if the bank wont reduce it, knocking on their door will not help you as they probabily owe too much to sell. They are losing their home either way you look at it by being forced to sell or by foreclosure, most people in that situation will not accomodate someone knocking at their door.

Please read my blog for more information on these situations.

Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Wed Jun 2, 2010
My initial reaction was to say "Don't knock on the seller's door. Just be persistent with the real estate agents until you get one who will give you a straight answer." And I think that's still likely the best answer. It shouldn't be that difficult getting a straight answer from an agent. And, frankly, it's no big deal for an agent to explain what the issue or concern is.

However, upon reflection, I don't see a major problem in knocking on the door. Recognize that the sellers may be sensitive, concerned, nervous, anxious, etc., about the short sale. So they may not be fully receptive to even talking to you. So be careful in how you handle it. But, really, the transaction would be between you and the seller, with agents acting to facilitate the transaction. And it appears that they may be hindering, rather than facilitating. So--with the caution I expressed above--you might as well drive over there and talk to the owners.

I expect some other agents here on Trulia will be appalled at my response. And note: I do think you should have an agent representing you in this transaction. Absolutely. But if you want an answer to what should be a straightforward question and you're not getting it, there's nothing wrong in getting the answer some other way.

Hope that helps.
0 votes Thank Flag Link Wed Jun 2, 2010
Don Tepper, Real Estate Pro in Burke, VA
The property in question may very well be in "limbo." It may have been listed as a short sale but the bank may have now foreclosed. They can take as much time as they want to list it and may not do so for a while as they don't like to flood the market with foreclosed properties. It is almost impossible to find out who to talk to at a bank to get information as they don't even communicate from one department to another! I would suggest you look for an agent not connected to the property who can help you find out the information you want. Let me know if you need a referral to someone, I can find you an agent through my Coldwell Banker company.
0 votes Thank Flag Link Tue Jun 1, 2010
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