It's when you owe the lender more than the market price of your home and you don't wish to pay the difference. You would then ask the lender to accept a repayment based on the best price you can get that is short of the loan total.... more
Yes, the home is still listed as active, for sale at $87,900. If you'd like to see it, please get in touch with me. I won't be working Christmas Eve or Christmas Day, but I'd be happy to show it to you on Wednesday. I look forward to hearing from you.
It means the seller's taken it off the market. There could be a number of reasons for that. The most common is that the seller has gotten tired of having his/her home listed, or has become convinced it won't sell for the price he/she wants or needs.
There's slightly different terminology in different parts of the country. "Expired" would mean that the listing--perhaps 90 days, perhaps 180 days, ran out. It expired without a sale. "Under Contract" would mean that someone made an offer that was accepted (with or without contingencies) by the seller. "Withdrawn"--as described above--means that the seller had the property taken off the market.
In your situation, what you should do is contact your Realtor and ask him or her to determine why it's off the market. If you're interested in the property, it's possible that your agent could approach the sellers (or sellers' agent) and still make an offer for the property. But first you need to find out what's going on behind the scenes.
Hope that helps.... more