This property was listed on Realty Trac.com but, once again, RealtyTrac.com is wrong.
Firstly, the listed price is not $195K, but rather $140K, and the size is not 1082SF, but rather 955SF. Hereâ€™s whatâ€™s going on. A notice of forclosure was posted in the free, public online public database found at Maricopa.gov. This notice of foreclosure is the bankâ€™s first step in starting the foreclosure process. The amount owed that is being foreclosed on is $195,000, but when RealtyTrac searches through free, public online databases for information, they almost always interpret the information incorrectly. So, donâ€™t trust that website for complete and accurate information.
This property is listed for sale in the Phoenix MLS for $140K, but itâ€™s a short sale. Less than 10% of short sales ever ending getting sold, mainly because the seller needs to convince their lender to take a loss on the sale, and thatâ€™s a very difficult, almost impossible task, which is why about 90% of short sale properties never sell & eventually end up going back to the bank.
You will benefit greatly by having a Buyerâ€™s Agent REALTORÂ® assisting you. Otherwise, you will continue to look at properties that cannot be purchased. With ~54,000 properties for sale in the Phoenix area, youâ€™ll need to know which ones are perfect for you & which ones can actually be purchased.
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