In My Neighborhood in 34134>Question Details

cskeeters402…, Other/Just Looking in Bonita Springs, FL

Why has the price gone up to $160,000.00 on, property

Asked by cskeeters40207, Bonita Springs, FL Mon Oct 8, 2012

needs a lot of work?

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The lender is holding out until January 2013 when new rules will go into effect. They will then be able to get a valid judgement against the barrower's for the difference between what the property will bring in the foreclosure and what the current morgage, late penalties, HOA dues, back taxes, and legal fees.
0 votes Thank Flag Link Wed Oct 10, 2012
It is a short sale. Many times if you see a price increase on a short sale it is because the lender (who holds the note) have done an appraisal of the property and found that the asking price was too low. The new price may be where the lender has said they would approve the short sale.
This listing is "active contingent", meaning there is an offer currently on the property. They are just waiting for the lender to approve the deal.

Dave Lang
Keller Williams Realty
0 votes Thank Flag Link Tue Oct 9, 2012
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