Property Q&A in Summerhill>Question Details

frenchyflo20…, Home Buyer in Atlanta, GA

why do you keep this property as active when it has been off market since July 20th ?? Your site is not updated and it mislead customers and users!

Asked by frenchyflo2002, Atlanta, GA Tue Aug 14, 2012

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This question is about this property: http://www.trulia.com/property/3090667260-574-Fraser-St-SE-A…

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Answers

7
Since Trulia pulls from many different avenues such as FMLS and GAMLS, they may not be truly up to date or not in 'real time'. The data may be anywhere from 24 hrs to 7 days of delay for the listing to be updated.

There may also be what other agents have spoken about...short sales, foreclosure...these properties sometimes have other circumstances that involve 'verbal accept' or 'pending lender approval'. Many times, they will still show active in the system.

Good Luck!

Lisa Allen
Short Sale Specialist
404-925-8261
LisaAllenRealtor@yahoo.com
http://www.LisasHomeListings.com
1 vote Thank Flag Link Thu Aug 16, 2012
The current listing on the townhome at 574 Fraser Street Southeast was activated on July 20, frenchyflo, and went under contract, pending lender approval, on August 14. If you woill notice the green box at the top left of the web page, it says "Sale Pending". Hope this helps. Good Luck!

Michael Hammond
SellsRealty@gmail.com
404-538-5499

http://www.georgiamls.com/agentsite/index.cfm?SiteID=HAMMONDJOHNM

http://www.chapmanhallprofessionals.com

http://www.SellsRealty.org

http://www.city-data.com/
1 vote Thank Flag Link Tue Aug 14, 2012
I know that can be one of the more frustrating things that happens to you when you're trying to find a good buy in the market.
That property is a foreclosure listing. I am not saying this is the case with that home but I want to explain what is often going on in circumstances like this.
When a bank owns a home and lists it for sale with a realtor, often there is a third party asset manager involved, several administrators for the bank, and possibly another from Fannie Mae or Freddie Mac. This can create a HUGE delay in getting back signed paperwork from the seller. So the listing agent may be telling people it's under contract and off the market because the seller has agreed to terms with a buyer, but until he/she has signed paperwork from the bank to turn in to the listing service, they are not going to take it off the site.
If you have a realtor working on your side, he/she can follow up on properties like that so you're not wasting your time checking on homes like that over and over. The best part is that having a realtor represent you doesn't cost you anything, plus it may save you a ton of frustration, and will better focus your search with more specific search engine functions.
1 vote Thank Flag Link Tue Aug 14, 2012
Trulia pulls their data from a variety of sources such as the local FMLS/MLS and public records.
1 vote Thank Flag Link Tue Aug 14, 2012
We had an accepted offer, hence it being in Listed-Verbal status. Then we were told by our client that there was an issue with the foreclosure. The buyer who’s offer was accepted still wanted the property. We found out on Tuesday that the seller is now completely pulling the property from the market. The property is no longer for sale and was pulled from our inventory. We went out and pulled the sign today.
0 votes Thank Flag Link Wed Aug 15, 2012
These are tough times for real estate brokers, many are insolvent. A significant percentage of real estate agents falsely advertise property as available when it is not to attract potential buyers. Inventory is low, in desperate times, desperate agents engage in desperate tactics.

It is unfortunate inaccurate information is posted but until consumers demand better, report errors, post negative reviews, and file complaints with the industry regulators; the current state of the market will continue to be the status quo.

You are not alone in your frustration.
0 votes Thank Flag Link Tue Aug 14, 2012
I seriously doubt that is the case with the listing. It is listed by one of the largest foreclosure listing brokers in the country. They certainly don't need the business and probably don't even have time to return inquiries about it. It's more likely that they don't have executed contract documents back from the seller, or they are just so busy they haven't had time to update their listing yet.
Flag Tue Aug 14, 2012
I seriously doubt that is the case with the listing. It is listed by one of the largest foreclosure listing brokers in the country. They certainly doesn't need the business and probably don't even have time to return inquiries about it. It's more likely that they don't have executed contract documents back from the seller, or they are just so busy they haven't had time to update their listing yet.
Flag Tue Aug 14, 2012
Hey there,

Believe me, the real estate community is constantly frustrated with agents who do not keep their online listings current. However there can be lots of mitigating circumstances these days which can cause this to happen. Sometimes the listing is a short sale and the agent is waiting on approval from a bank who is dragging its feet. Sometimes there are online search engines who do not update their information in a timely manner. That's why its always best to contact an agent personally to get to the bottom of a property inquiry. Never get excited about a home you find online until either the listing agent, or your buyer's agent has confirmed its availability.

Brian White
Origins Real Estate
0 votes Thank Flag Link Tue Aug 14, 2012
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