These type of properties are becoming commonplace. The buyer purchased this with 100% financing. Only four months later, he received a notice of default. Seven months after his purchase, the bank repossessed the property. What I can't figure out is why it took the bank so long to list the property for sale. The foreclosure judgement was on October 19, 2006 and it wasn't listed untile October 5, 2007. Why did it take the bank almost one year to list the property? Perhaps, it was relisted with a new Realtor®?
120 SPARROW Dr # 301, Royal Plm Beach, FL 33411
- 2 Bed, 2 Bath Condo
- Bought in March 2006 for $189,900
- On the MLS for $149,000
- Days on the MLS: 12 Days
- Loss before the Realtor® commission: $40,900
- Loss after the Realtor® commission: $49,840
I need your help with this daily feature. Do you know of a F@cked Buyer? Just add the MLS number or the FSBO link in the comments section and I will add it to an this daily update in the future.
Stumble It!
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