Selling Listed Properties For A Highprice?
fellow investors, i have a www.question.i had a property that was listed on the mls for$46,000 last month. it has expired. i wanted a quik www.sale.i now have a buyer willing to buy it at a higher price through bank www.financing.the property will apraise for 70,000.the problem i am facing is everyone is telling me after the bank see it was on the mls for 46,000 they will kill the deal if the buyer tries to get the loan for 70,000.any one ever encounter this problem or no of any banks that would not balk at the deal. any advise will be helpful. :-?
If you can provide a real estate agent with the $70,000 appraisal, he/she would probably list the property for that amount. An agent doesn't want to list a property for MORE than it's worth... but typically won't have a problem at all if he/she knows the value is there. Good Luck!
If it appraises for $70,000 - who cares what it was listed for?!? I'm sure the banks I use never look at the MLS to see what it was listed for. They certainly look at the appraisal...
Good Luck!
[addsig]
I sell real estate in Western PA and I don't know of any bank that checks the MLS unless the house is currently listed. They don't search expireds, so I can't imagine that this would be a problem for you. Frankly, I don't understand why if this house is such a great deal someone didn't buy it while it was listed at $46,000, but then again I see that situation locally time and again. Good luck
I sell real estate in Western PA and I don't know of any bank that checks the MLS unless the house is currently listed. They don't search expireds, so I can't imagine that this would be a problem for you. Frankly, I don't understand why if this house is such a great deal someone didn't buy it while it was listed at $46,000, but then again I see that situation locally time and again. Good luck
I sell real estate in Western PA and I don't know of any bank that checks the MLS unless the house is currently listed. They don't search expireds, so I can't imagine that this would be a problem for you. Frankly, I don't understand why if this house is such a great deal someone didn't buy it while it was listed at $46,000, but then again I see that situation locally time and again. Good luck
thanks for reply,s. my mortage broker told me that if the banks find out if it is listed they will not fund it i am in ohio any one from ohio had this propblem?
Shadow4
Please email me at **Please See My Profile**
I live in Elyria, Ohio. I think we can do business