Short Sales & Lenders

By
Real Estate Agent with Turnberry International Real Estate

OK, so I don't understand how lenders come to a conclusion on what a unit should sell for?  I sell and work in a predominately high-rise condominium area.  I am on the board of directors where I reside, a newer building built in 2006.   Today I was informed that one of our larger units sold for a ridiculous amount, for less than on of my short sales in a building built in the late 1980's.   How is this possible?

 

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