I recently helped a buyer close a transaction where the condo assn. was in a lawsuit with the developer. There are some banks in town who will loan depending on the specifics of the lawsuit and what they determine the possible exposure of the HOA. If you want to call me with specific location and circumstances, I'd be happy to try and help your situation if possible.
Keller Williams Santa Fe
Trulia pulls its information from the MLS. In order to correct information that is inaccurate, the listing agent needs to be contacted. I have checked the MLS information for that address and there is no active listing.
I will do some further research and see if I can find the source of the price and type of home that you are reporting.
I think you have received several reasonable answers to your question. The real answer will lie in the specifics of your purchase contract. Without that information it is impossible for us to give advice which will most likely involve contacting a real estate attorney since Realtors do not practice law.
Rather that speak to the what if's of a legal battle, there is a practical side to all of this. A legal battle or a battle over earnest money as liquidated damages, is an expensive undertaking. Just because you win, does not mean you will pay dearly for that victory. There is no way of knowing that a judge would grant you legal fees as part of your "victory." Also the buyer may not really have any assets to lose. Then you would have a judgement not worth the paper its printed on.
I would suggest that the best way to deal with this unfortunate situation would be to see if you can get this willing buyer to purchase your home. I understand your frustration and the real costs of doing this, but I think the alternatives are much less attractive and more expensive.
One of the big lessons learned is that in NM a deal is not really closed until you receive your check. Does that make future plans very difficult to make? Yes it does. The financing landscape is a treacherous one these days and it takes experience and finese to really understand it.
We never like to hear about these situations, and hope that in two weeks the buyer's loan will come through and at least stop your financial bleeding.... more
If looking to sell, consider inviting a few local agents from different realty companies, ask for a cma, comparative market analysis, review the data, ask opinions, determine worth, and go from there; otherwise, any local agent/realty office can provide you the information, they all have access to the same information.... more
Cs - I really question city-data's figures. But more importantly, that figure is only relevant if you limited your buying public to those already living in Santa Fe. Obviously you'd be marketing to the world - so the number of households in Santa Fe that could afford a house in your price range is immaterial.
Secondly, there's little way you can compare the market for Villa Sonata with the market for a high-end SoCap home. Nothing against Villa Sonata - for families that are looking in the 200's - 300's, that community will be fairly attractive, and the houses appear to be well-built. However, those looking for a SoCap-type lifestyle and neighborhood (easy walk/bike to railyard and downtown/established, mature neighborhood) probably wouldn't consider Villa Sonata - so you are really looking at two different demographics.
So, all that being said, is there a risk? Definitely.
Is it worth it? Only you can answer that. If you can live in it while you are trying to sell it, that might reduce the stress........ more
Hi there. I am a certified ePro with the National Association of Realtors and internet marketing is absolutely my forte. I hope this information below will help you get started....
If you want to go it yourself, use sites like ForSaleByOwner.com and opt for some paid listings on Zillow, Trulia, etc....You also will want to use any and all of the social media sites that you can employ, like Facebook, LinkedIn and Twitter. There is a misnomer that listing a house on a few sites will put your home in front of tons of hungry customers. Unfortunately, in this market that is simply not the case.
Networking and a multimedia approach is what gets it done.
When I take on a listing I syndicate it on over 200 sites, reverse prospect with other local real estate brokers and send a variety of email blasts to area brokers and prospects. This is in addition to the conventional print advertising and simple handshake on the street. The internet is an extremely important part of today's marketing efforts, but it must be done along side conventional real estate sales methods for it to work well.
Please feel free to contact me with any questions. I love to help.... more
I believe the person or entity responsible for the closing of the transaction is responsible for preparing the 1099-S. So, if this was a cash transaction and you handled the paperwork then you would be responsible for filling out the 1099-S. If it was an attorney or a title company, then they would. Best bet is to talk with your accountant.... more