Property Q&A in Lawndale>Question Details

Goran, Home Buyer in Hawthorne, CA

I've heard that the bank will not sell it for listed price. What do you expect to be the real price?

Asked by Goran, Hawthorne, CA Wed Dec 10, 2008

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This question is about this property: http://www.trulia.com/property/43107989-4712-W-164th-St-Lawn…

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Answers

3
Goran,

Unlike a short sale, a bank owned home should definitely be for sale at the listed price. Given all of the work that home needs the bank can't expect much more than that anyway. All sorts of issues going on with it.
1 vote Thank Flag Link Tue Dec 30, 2008
In the end, banks look to see what other properties in the area are selling for "Comps" or comparables. That's why you will see some properties (not all) priced so low and "too good to be true", because the banks don't want to sell too low. Good luck hunting!
0 votes Thank Flag Link Thu Dec 11, 2008
Goran,

Contact a real estate professional and request them to provide you with information on all of the recently sold homes in this location.

This will give you a clearer picture of what the bank is looking at as a "fair price."

Good luck
0 votes Thank Flag Link Thu Dec 11, 2008
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