Selling Bonus, Owner Occupant, Offer over $25k: This Just Kind of Threw Me

If I was in your area I would snap that up as a rental.  We can't touch anything decent for that price...including a parking space.

Those 25k deals make great rentals, those that are buying now, that can buy, will see good things in the future! 

I hope you can find someone who wants to throw $25,001 at that condo to see if it sticks. You can't buy anything here for that price ... not even close!

Great deal if it's not a typo (can't imagine the listing agent would lay his/her cards on the table that easily)...I'm always looking for the fine print when I see something that looks too good to be true.

Does seem kind of unusual!

Hmmm.  That does seem odd.  Unless they are trying to create a bidding frenzy if that price is unusually low for the area. They may just be trying to drum up interest in the hopes that an auction atmosphere might be created...just thinking out loud!

Charita - sounds like that might be a FannieMae HomePath home.  I'm not trying to promote myself here, but this is a link to the post I wrote on the FannieMae selling agent incentives:

http://activerain.com/blogsview/1890613/new-incentives-on-fannie-mae-homepath-homes-through-december-31-2010-for-buyers-and-selling-agents-

If this is a FannieMae home you will find it on the HomePath link.  Might explain the $25,000.

Charita:  It all goes back to the much-repeated wisdom ... "All real estate is local".  It's never been more true than now.  The big media outlets don't emphasize that, so too many potential buyers and investors don't consider the local markets or do their homework.  Guess it's up to us to broadcast this vital information to the masses.

So folks ... talk to local, knowledgeable professionals for the true statistics and correct information regarding your market.  Get pre-qualified and be prepared when the right property and right time exists for you.

Perfect .. and timely message Charita!

Gene

This would seem to be a d'uh moment?

Charita, 

Hope you've been writing offers on it all day!   Great talking with you the other night.  Fun to share. 

All the best, Michelle

Charita - Not sure what's more surprising that the listing agent is disclosing this information or that a buyer can purchase a condo for $25K.

I've seen some listings that said, $PRICE = FIRM, would also essentially broadcasting the "minimum" the seller would take. I think it's up to the Seller to want to disclose that. I think that's totally fine by me. Makes life alot easier. If I dont think it's worth any more than that, I don't even have to be bothered by it.

I've seen this happen in our area, and it's an attempt to get multiply offers, and bid the price up.  Pesonally, I can't stand it, but if it brings out a buyer, or two or three, and the place gets sold to the highest and best . . . who am I to say it doesn't work?

Charita ~  CA has been sick, so I've been pulling double duty -- sorry I've come late to the party, but I hope you've found an investor to jump on this!!!