Bugs I understand what you are saying but they just reduced for the 3rd time down to $769. Why would anyone then turn around pay one dime above that amount? So let’s say someone pays the bottom of the range, $769.
Since it was purchased 2/28, I don’t see how they get out of this without a loss. Now I don’t have access to the type of loan the buyer took out, but even at 4% selling costs, the seller is under-water. This doesn’t include any carrying costs, taxes, improvements, etc. Even at a Negative-Am Teaser, that adds to the total, though one could throw some of that out to say it was cheap rent.
Also are there not other seller expenses? Just asking, but it seems 4% is very conservative.
