4035 12 Ave. S. is a short sale that is showing as Active with Contract. This means there is a ratified contract between the Seller and the Buyer contingent on the Seller's Lenders approval since the loans are more the the current market value of the property. Short Sales are often left Active with Contract to allow them to be able to continue to market the property and accept back up offers, incase the current Buyer walks. Short sales do take an indefinite amount of time to close and have a high fall through rate. Most lenders want to see an initial commitment of escrow and at least 120 days from Buyers, to get the lender(s) approval. After the 120 days the time is often extended or the Buyer may walk. This house has been on the market a little over 6 months, but the last time it actually sold was in 2007.
I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761