What is the current status of this property? Can an offer be made?

Asked by Ed Miller, 77379 Sun Feb 1, 2009

This question is about this property: http://www.trulia.com/foreclosure/2003319124--Sandy-Ridge-Av…

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Christine Se…, Agent, Davenport, FL
Sun Feb 1, 2009
Hello Ed

This home is not currently listed for sale. I could contact the homeowner and ask him if he would be interested in selling his home.

The homeowner could be behind in his mortgage payments, and may be working out a re-payment plan with his mortgage company. With such a low balance on the loan, it is probably a home equity loan or a 2nd mortgage.

This home is located on a 5 acre tract, and depending on the current condition of the home would be valued around $300k

Please let me know if you have any other questions.

Christine Selzler
ERA Select International
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Joellen Stra…, , Eustis, FL
Sun Feb 1, 2009
The property is in the process of being foreclosed on which means the owners still have a say in whether or not they sell at the price stated. Once the property is forclosed on and the bank owns it the bank will have a price valuation done and will put it on the market at what is determined to be market value (most likely higher than 69,000.) If the owner chooses to sell the property for what they owe on it the bank isn't involved, if they try to sell it for less than they owe they either need to bring cash to the closing table or it becomes a short sale which is a completely different set of rules.

From what I can gather on this property you need to register with the link and get the remaining information before you will know which situation you are dealing with.

I'll be glad to help track down the information if you want to pursue this particular property or other foreclosures in the area.
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