The home has been withdrawn from the market. I spoke with the former listing agent who told me that there was a cash offer on the home but it did not work out. It was going to be a short sale, which means the seller's mortgage company would have to approve all offer because they were trying to sell the home for less than what was owed on it. The mortgage company and the seller agreed to a $4000 promisory note in order to accept the cash offer they had, but when all the offiial documents were drafted, the promissory note was for $10,000 instead of $4000, which was never agreed upon by the seller. The seller said no way and told his mortgage company to foreclose if they would not accept the $4000 note.
This is what I was told and based on my experience with short sales, I do not doubt it a bit. Looks like it will be a foreclosure, but no telling how long that may take. It may be sold at the foreclosure auction, or if not then, it will become a bank REO and will be put on the market for sale, usually a month or two after the foreclosure auction.
Hope that helps. Contact me at 336-823-0169 if you have any other questions.