Why the title is still under REO after more than a month pending period, any issue wrt buyer?

Profile picture for W.PlanoHomeForLease
I'd like to know the status, and maybe the bank would not approve a high bid...Tks
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November 20 2009
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Answers (9)

Best Answer
Profile picture for Dallas Ft. Worth PRO
I never got an answer from the listing agent on the status.  I'll post back if I ever hear back.

Naima
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November 29 2009
Profile picture for W.PlanoHomeForLease
That's an interesting "trend" which is against the real estate principle. Considering multiple mandatory repairs on this foreclosure house as well as ongoing build-outs in the neighborhood, it might not be a good deal in the end except you'll have many friends nearby.
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January 02 2010
Profile picture for Dallas Ft. Worth PRO
Age is such a huge factor to many people.  I'm working with 2 families right now that are looking in Coppell and Plano and neither one would consider looking at a house that is build before 2005.  I have seen a couple homes built in '98 and 2001 that are updated to perfection and very well maintained but they refuse to even look at them.

Naima
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December 30 2009
Profile picture for W.PlanoHomeForLease
Exactly, and considering the FISD for this house I'd believe that 75093 area would be more attractive (see below newly listed regular house which should be closed below foreclosure 7905 selling price level).

$529,000 
5513 Lindsey Drive
Plano, TX 75093
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December 30 2009
Profile picture for Dallas Ft. Worth PRO

The outstanding lien on it was exactly 100K above list price.  I've seen nice homes for the same amount but location is key here and people pay top dollar for it.

Naima

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December 30 2009
Profile picture for W.PlanoHomeForLease
I'd believe it's closed now @ ~ 96% of the list which seems to be overpaid for its location/neighborhood.

Just saw a 75093 house under normal selling that is listed @ $529K on Lindsey.  
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December 29 2009
Profile picture for Dallas Ft. Worth PRO
Finally got an answer.  It's scheduled to close on 12/8.

Naima
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November 30 2009
Profile picture for W.PlanoHomeForLease
Since Oct 15th pending status therefore it'd be interesting to see the outcome of the deal. Tks.
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November 28 2009
Profile picture for Dallas Ft. Worth PRO
It has been pending since October 15.  I can find out tomorrow from the listing agent when it's supposed to close.  It's taking as long as 45 days to close a transaction so it's not outside the range yet.

Naima
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November 21 2009
 

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