Why would an owner move out suddenly without leaving a new address when doing a short sale? 3rd party approval contingency expired 5/30/11

Asked by Curious Neighbor, 22180 Wed Jun 1, 2011

The condo is in my building and has not lost a great deal of value. It was purchased 3/08 for 245,000 and market value is about 240,000 - 244,000. The owner is employed full time and has been living there with one or two roommates. Suddenly on May 13 the owner moved out and per the mailman has left no forwarding address. The asking price was 189900.

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Tim Moore, Agent, Kitty Hawk, NC
Wed Jun 1, 2011
BEST ANSWER
It's a short sale so the seller is going to get nothing. Depending on your state there may be a way the bank can look to the seller for any deficiency and come after them for it when / if the property sells short. They may be leaving to hide from creditors, happens a lot.
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Anna M Brocco, Agent, Williston Park, NY
Wed Jun 1, 2011
Unfortunately none of us can answer with accuracy as to why your neighbor suddenly left, however things do come up such as job relocation, closer to family, etc.
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