is this the total amount owed on house?

Asked by Robert Hayes, 15120 Sat Jan 31, 2009

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This question is about this property: http://www.trulia.com/property/1069609617-4504-Fargo-Pl-Orla…

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3
Rick Aguirre, Agent, Orlando, FL
Sun Feb 1, 2009
Robert,
As previously mentioned it is listed for this amount. As a Bank owned property it is mortgage free.
Hope this helps.
Rick.
0 votes
John Bennett, Agent, Orlando, FL
Sat Jan 31, 2009
Gregg did well and I will add a tad as this is something I do a lot.

Once the bank owns subject, Bank will have several Brokers do BPO on the property. This will give the bank some range of what the house might sell for in the current and future market, as least a well as brokers can tell. They do this by looking at recent sales and current listing of like kind properties in the area, adjusting prices for any and all differences of the comps. How much they have lost is not (should not) be a factor in
judging how much they might get for the property. They should live in the present.

John
0 votes
Greg Traub, Agent, Orlando, FL
Sat Jan 31, 2009
The home referenced is a bank owned home. So technically there is nothing owed on the house. It is the asking price and the bank will sell it with clear title to the person that comes with the highest and best offer.
0 votes
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