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Laura McShane, Other/Just Looking in 44109

Why was this property recently sold to Third Federal to resell at a higher price?

Asked by Laura McShane, 44109 Sun Mar 1, 2009

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Hi Laura,
Third Fed was able to buy this back at Sheriff's sales for $73,334 in November. They will attempt to sell it at the highest price that they feel that the market will bear. Unfortunately for them, they will still probably loose money on this sale. When this home was purchased in 2004, 3rd Federal let the buyers more than $150,000 to purchase thisehome
It is not unusual that a bank will lsit a home at a price higher than what they were able to buy it back.
The key in buying it is "WHAT IS THE FAIR MARKET VALUE? It does not matter what the Seller paid for the property,. It only matters what the Seller will see as a fair market value.
If you are interested in this home, I would be happy to provide you a FREE market analysis of this home in this neighborhood. When we have dne this, we can make a reasonable guess at what the Seller will accept to part with this property.
I would welcome the opportunity to represent you & fight for your best interests. The Seller has his agent looking out for the Seller's best interests. Don't you think that you should have someone who will be working for you!
Please drop me an e-mail at or call at 440-487-2193.
I look forward to working for you!
Sincerely yours,

John Wirsing
Keller Williams Realty Greater Cleveland
1 vote Thank Flag Link Sun Mar 1, 2009
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