My first reaction was yeah it should be in family but then I saw that in the comments it said it was a short sale…so I am not sure if it was a family deal. However something is odd about the deal for sure. Obviously the pricing is really whacked out. Second thing is that the listing agent did both sides of the transaction. Third the holder of both the first and second mortgages was good old Bear Stearns!
To be honest I am not sure what went on hear. I tend to think perhaps we had a cracked slab deal or something wrong with the home in a big way but to be honest, I do not know what the heck went on.
Conspiracy theorists could come up with something like… Perhaps the buyer said hey you are gonna take a hit on your credit anyway with a short sale so lets submit this 240k and I will pay you 50-100k out of pocket after COE. That way the buyer gets a now tax basis. I doubt this happened but ya never know.
