We recently closed on a home in the Murray Hill neighborhood for a young lady who was a first time homebuyer. The home she bought is a darling 3BR/1BA bungalow in the desirable neighborhood of Murray Hill. It was purchased by the seller in the high 100’s. After living there a few years, she tried to sell it amidst the rapidly falling real estate market and the house fell into short sale.
There was one very low offer on the home that did not get accepted by the bank but when the bank “countered” the low offer, they established a price that they would accept. This was put into the Multiple Listing Service (MLS) as a bank approved price and the young lady we were representing quickly wrote an offer on it.
After jumping through a few hoops and encountering a few stumbling blocks along the way, the sale closed in relatively quickly (about 3 months-which is for a short sale) on Friday of last week for $120K — one more property off the market, a great buy for our buyer and a happy ending to a short sale.