Property Q&A in Guttenberg>Question Details

TOM Baykal, Home Buyer in Guttenberg, NJ

What will be the price for this house ?

Asked by TOM Baykal, Guttenberg, NJ Sat Mar 17, 2012

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The property is a bank owned property (REO - 'Real Estate Other' as it appears in the accounting books). The price quoted on the site is simply the highest bid amount at the past foreclosure auction the bank tried to sell the property at. Since the amount was under the threshold the bank was willing to accept for the loan settlement, it took it back and now owns it.

All you can say is that it is likely the asking price will be substantially higher once it is put on the market. Either way, it is not really material, as it is currently not listed or active in the marketplace.

Amos Elroy, SFR (Short-Sale Specialist Certified)
Residential Real Estate Investment Consultant
Lic. Realtor Associate
EXIT On The Hudson Realty
(888) 462-6573 / (888) HOB-NJRE
FAX (888) 462-6573
Office 201-437-0411
0 votes Thank Flag Link Sat Mar 17, 2012
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