This is the second time that 1209 Olivia Street has been returned to the market after the lender was unwilling to accept the short sale price negotiated between the seller and buyer. If you are among the many people who saw this house and got frustrated that you did not get to submit an offer, you just got a new chance to own a place in Paradise.
The new asking price is a price that the lender will agree to accept: $610,000. This is what you will get for your money: Desirable Meadows single family home totaling 2 bedrooms/ 2 bathrooms plus small pool house. Heated concrete pool, off-street parking, resurfaced wood floors, new bathrooms, central a/c, Chicago brick patio, newer decking around pool. The house has sat vacant for several months, so it smells a bit. There is also a spiral staircase in the living room that provides access to the second floor bedroom and bath. The pool is green these days, and there are deal palm fronds all over the yard. Each of those negatives can be remedied. But at $610,000 you get a 1522 sq. ft. house on a good sized 3589 sq. ft. lot in a desirable location for $401 per sq. ft. The waiting time on approval should be minimal since the lender has already approved the price.
CLICK HERE for more information and photos of 1209 Olivia Street. Please note: the photos in this blog are old photos. They do not represent the present condition of the property.
If you would like to see 1209 Olivia Street, please call me, Gary Thomas, 305-766-2642 to schedule a showing. The house is vacant so it is easy to see. But please see it with me.
4 comments:
Gary you stated that "the lender was unwilling to accept the short sale price negotiated between the seller and buyer". Is this a common occurance? It would seem to me that the bank would be willing to work with both since they came to terms on price and the bank wants to get this off its books.
The bank would not accept the price. The prior time the bank took so long to approve the deal that the "buyer" got tired and went away.
Banks can accept, reject, or counter a price. Sometimes they dicker and make the realtors take a nominal commission just to get a deal done.
Some lenders are easier to deal with than others. There is no general rule accept that Banks do not believe in the Golden Rule. They never have and they never will. I worked for banks and I know of what I speak.
Gary
Speaking of pool eq. from your comments on the Short Sale post above, the 1209 olivia property's pool eq. has been removed...Who would have to replace? the Buyer, Lender or Seller???
The pool is still there. It's pretty green with algae these days. But it can be cleaned. The pool equipment has been removed. That will be a buyer's expense.
This is a real nice house that kinda smells bad right now. Everything that is wrong can be fixed.
Gary
Post a Comment