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Too Good To Be True

By
Real Estate Agent with Century 21 First Choice

We were showing property today and showed an ocean front condo listed in the MLS for $400,000 and the clients liked this unit very much. Unfortunately, it is a "Short Sale" and after talking with the listing agent, we were told the bank would not take less than $525,000. Of course, this is out of our clients price range and they were so excited until being told what it would actually take to get the condo. In addition the POA was more than twice what is shown on the listing sheet. This really makes us look less than competent to our clients when we have to go back and say, sorry, but the price is actually $525,000 and oh by the way, the POA is actually $1400 per month. If someone is listing a short sale, should they not find out the bottom line before entering it into the MLS? This could have avoided some very disappointed clients as they would not have looked at this condo had they known the price beforehand. I guess the adage, it is sounds too good to be true, it probably is.

www.scbeachteam.com