Home Buying in New York>Question Details

wini vogel, Home Seller in Collinsville, IL

Our condo on Central Park South that is going to be auctioned off by the court. What need I do in order to create a buzz to bring potential buyers?

Asked by wini vogel, Collinsville, IL Sun Jan 26, 2014

The Condo is 2Bed/2Bath 1200sf. I am just minority owner and I need to maximize the price. Court did not consider a proper listing with a broker. Does any broker have potential clients to recommend the deal? Does anyone know the apartment's real worth? It was appraised for 1,550.000. my tel 3477591169 Win

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The Auctioneer will publicize the unit and believe me, in NYC, there will be many bidders which will most likely include the mangement company. They don't want to lower the value within the building with a low bid. If the unit was appraised, as you've mentioned, I would say that is the best indicator of it's worth in today's market. Sorry to hear you've lost out here. Had you sold before getting to this pass, I'm sure you could have gotten a very good price for it in this scorchingly hot Manhattan market. Good luck.
0 votes Thank Flag Link Mon Jan 27, 2014
Please send me the building address and I will look it up and see what we could do.
I am a real estate broker with clients looking in that neighborhood.
My email is jvarghese@citihabitats.com
Jojo Varghese
646 523 3710
0 votes Thank Flag Link Mon Jan 27, 2014
The problem will be auctions attract bargain seekers looking to pay less what market value,. Auctions come with risks and restrictions for buyers. Auctions limit the amount of buyers, Some buyer agents may bring their buyers but some may stay away because of the difficulty, Look at it as say 10 agents giving 10% time and energy who may have buyers rather than listing it and having 1 agent giving all they got to market and attract potential buyers. if you are bound to the court ruling the only thing you can do is reach the area buyer agents who work in the upper segment of the market and get them info on the home and auction in case they have a buyer.
0 votes Thank Flag Link Mon Jan 27, 2014
Hello Win,
I sent you a message to the number provided. Please reach out to diana@nyishome.com
I have a buyer for your property.
0 votes Thank Flag Link Mon Jan 27, 2014
No one can tell you the value based on the info given.
Are you sure this is a condo, not a co op?
Why would any broker work for free? We are compensated by commission. Working for you for free or for very little may be a nice gesture but it also reduces the time a broker has to work with his clients who are paying him. And there will be expenses to make this successful.
I often see the company auctioning the property advertising it on Zillow and other sites. Are you sure that's not being done?
IF your apt is a good value, there will be no shortage of potential buyers. You have a prime location and inventory is low. It sounds like your majority owner thinks he will be the only bidder. Not likely.
Good luck
0 votes Thank Flag Link Mon Jan 27, 2014
As a buyer of my home at a court driven auction. I would say if your home is in a high demand area such as yours, you need not worry. The auction process itself gets many buyers and in fact you end up getting people overbidding when it is a high demand property/address.
0 votes Thank Flag Link Mon Jan 27, 2014
Good Morning Wini Vogel,

My name is Michele Brown-Lowe with Carrington Real Estate Services and I work with foreclosures everyday. I recently sold a property on the eastside that was an actual foreclosure and have an established relationship with several banks and asset managers. I know that it can be very difficult and stressful when facing a foreclosure and can definitely be of assistance to you, if given the opportunity. I would advertise your property on more than 500 websites as we as a website of it's own. I would also provide you with a Comparative Market Analysis that would show the value of you home. Please feel free to contact me at 914-527-5733 or 888-575-6773, ext. 528, with any questions or concerns that you might have.

Thank you in advance for your time and consideration.

Michele Brown-Lowe
Carrington Real Estate Services
0 votes Thank Flag Link Mon Jan 27, 2014
Good Morning, Mrs Vogel!
I work with foreclosures everyday and it can be difficult to get the bank to work with you to sell/buy. I would be willing to advertise your property on my trulia website where thousands of viewers frequent daily, as well as, others. Please feel free to peruse my site, let me know your thoughts and contact me with any questions/ concerns. I would love to help any way I can. Thanks, in advance, for your consideration.
Monica K Pindle Faulkner, CDPE
Lemor Realty Corp
0 votes Thank Flag Link Mon Jan 27, 2014
I would contact a local real estate broker. I'm sure they would have ways to assist you. I do know one and her name is Lindsey Kulla and her number is 203-446-1439.
0 votes Thank Flag Link Sun Jan 26, 2014
In the past I did contact a broker or even more than one and they will work on the issue only if they are assured commission. The court rules that out, the majority owner wants to get the property dirt cheap and buy me out, and I have no recourse. Do you think this lady will work for very little? If someone has already potential buyers who cannot physically come to the auction and pay him/her to represent them for a certain fee, this is another issue. Do you think Lindsey will be interested?
Flag Sun Jan 26, 2014
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