Foreclosure in 89052>Question Details

Chasman, Home Buyer in Reno, NV

What is usually the background behind some ridiculously low priced recent sales that are anomolies? For

Asked by Chasman, Reno, NV Thu Jul 31, 2008

example, 26 fountain head cir sold for $76K, 2140 paganani ave $157K and 3 hazelhurst pass $375K?

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I only investigated Fountain Head for you briefly. The "secret" discovery is that wasn't an open market arms-length transaction. It looks to me but don't hold me to it, that it was simple an exchange of remaining ownership from one person to a former spouse or business partner. The "buyer" was actually a partner (joint tenancy) of that property before she became the sole owner of it. That looks to the public as a normal free-market sale but the story behind it isn't. It looks like "seller" just gave her full title for the consideration of $76k. That is likely a similar case for the other properties you mentioned.
0 votes Thank Flag Link Thu Jul 31, 2008
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