Yes, thank you. I'm currently trying to make sense of two apartment sin my building that was sold $131,000 difference in price, given the the low end is (sold 06/2008) $169,000 ground floor (perhaps hard sell because of so) and the top floor is $300,000 (sold 06/2007) probably the same condition just different view/height). Still so, the $300,000 apartment is at least $60,000 more than comparable apartment even in today's price.
How did the buyer get the bank to agree to mortgage? If a buyer is willing to put 50% down, would then this situation possible because technically the mortgage is still higher than the appraised value, thus making the sale possible? Is there another possible way, which I doubt?
Thank you in advance.