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Was this property purchased by a bank, or an individual? This purchase price looks like an error.

The purchase price of $371k must be in error. Unfortunately, it increased the "value" of nearby homes artificially, and prevents/complicates nearby homeowners from being able to renegotiate their mortgage principle amount. If this is not an error, it is some sort of bank fraud.
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March 26 2010
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Answers (1)

Tax records are indicating that it DID close at $371k with only a $162k loan amount. With that low of a loan, it doesn't have to appraise.

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March 26 2010
 
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