This recent Creekside condo sale in Mira Mesa looks ripe for fraud

[akbarpunjabi]

http://www.sdlookup.com/Community-348-Creekside

JI H LEE purchased it for 187K in March of 08

LILLY A LIDOT purchased it last week for 218K

Look at the recent comps, look at the current listing. What was S D FUNDING thinking? Is there something I’m missing?

[urbanrealtor]

I happen to know more about this deal than most.
My seller was briefly in escrow with this buyer.
It is pretty unlikely that the buyer was pulling anything weird.
I also know the agent personally.
I consider it highly unlikely that any of the players in this deal are up to shenanigans.
Often there are factors that are not obvious on public lookup sites that play a part.

For example, Lending:
A cash buyer (the most desirable buyer) on a beate up short sale (the least desirable seller) can often work magic on lowering the price. The reverse can also be true.

To be more specific, you should contact the buyer’s agent.

[urbanrealtor]

I happen to know more about this deal than most.
My seller was briefly in escrow with this buyer.
It is pretty unlikely that the buyer was pulling anything weird.
I also know the agent personally.
I consider it highly unlikely that any of the players in this deal are up to shenanigans.
Often there are factors that are not obvious on public lookup sites that play a part.

For example, Lending:
A cash buyer (the most desirable buyer) on a beate up short sale (the least desirable seller) can often work magic on lowering the price. The reverse can also be true.

To be more specific, you should contact the buyer’s agent.

[urbanrealtor]

I happen to know more about this deal than most.
My seller was briefly in escrow with this buyer.
It is pretty unlikely that the buyer was pulling anything weird.
I also know the agent personally.
I consider it highly unlikely that any of the players in this deal are up to shenanigans.
Often there are factors that are not obvious on public lookup sites that play a part.

For example, Lending:
A cash buyer (the most desirable buyer) on a beate up short sale (the least desirable seller) can often work magic on lowering the price. The reverse can also be true.

To be more specific, you should contact the buyer’s agent.

[urbanrealtor]

I happen to know more about this deal than most.
My seller was briefly in escrow with this buyer.
It is pretty unlikely that the buyer was pulling anything weird.
I also know the agent personally.
I consider it highly unlikely that any of the players in this deal are up to shenanigans.
Often there are factors that are not obvious on public lookup sites that play a part.

For example, Lending:
A cash buyer (the most desirable buyer) on a beate up short sale (the least desirable seller) can often work magic on lowering the price. The reverse can also be true.

To be more specific, you should contact the buyer’s agent.

[urbanrealtor]

I happen to know more about this deal than most.
My seller was briefly in escrow with this buyer.
It is pretty unlikely that the buyer was pulling anything weird.
I also know the agent personally.
I consider it highly unlikely that any of the players in this deal are up to shenanigans.
Often there are factors that are not obvious on public lookup sites that play a part.

For example, Lending:
A cash buyer (the most desirable buyer) on a beate up short sale (the least desirable seller) can often work magic on lowering the price. The reverse can also be true.

To be more specific, you should contact the buyer’s agent.

[akbarpunjabi]

The price paid relative to the current and active comps just doesnt make sense. 50% down on this condo is that how the bank allowed this? The units in this complex are a dime a dozen why would any buyer overpay by so much? These units are far from unique properties.

[akbarpunjabi]

The price paid relative to the current and active comps just doesnt make sense. 50% down on this condo is that how the bank allowed this? The units in this complex are a dime a dozen why would any buyer overpay by so much? These units are far from unique properties.

[akbarpunjabi]

The price paid relative to the current and active comps just doesnt make sense. 50% down on this condo is that how the bank allowed this? The units in this complex are a dime a dozen why would any buyer overpay by so much? These units are far from unique properties.

[akbarpunjabi]

The price paid relative to the current and active comps just doesnt make sense. 50% down on this condo is that how the bank allowed this? The units in this complex are a dime a dozen why would any buyer overpay by so much? These units are far from unique properties.

[akbarpunjabi]

The price paid relative to the current and active comps just doesnt make sense. 50% down on this condo is that how the bank allowed this? The units in this complex are a dime a dozen why would any buyer overpay by so much? These units are far from unique properties.

[SD Realtor]

Akbar I don’t have many answers for you on this one however consider the following…

1 – The sales price was consistent at 220k ever since the seller listed it originally. Sometimes with fishy transactions you see a price change right before the offer was accepted.

2 – The home was previously in escrow, then came out and went active again.

3 – The escrow period was not exceptionally long or exceptionally short.

4 – Yes I agree the home sold price is substantially out of whack compared to the comps for identical floorplans yet it may not be fraud. Yes with a high enough downpayment then the bank may still indeed lend up to 80% on the appraised value.

Anyways, well… it kind of sucks but it is what it is… which is way out of whack but not unexplainable.

[SD Realtor]

Akbar I don’t have many answers for you on this one however consider the following…

1 – The sales price was consistent at 220k ever since the seller listed it originally. Sometimes with fishy transactions you see a price change right before the offer was accepted.

2 – The home was previously in escrow, then came out and went active again.

3 – The escrow period was not exceptionally long or exceptionally short.

4 – Yes I agree the home sold price is substantially out of whack compared to the comps for identical floorplans yet it may not be fraud. Yes with a high enough downpayment then the bank may still indeed lend up to 80% on the appraised value.

Anyways, well… it kind of sucks but it is what it is… which is way out of whack but not unexplainable.

[SD Realtor]

Akbar I don’t have many answers for you on this one however consider the following…

1 – The sales price was consistent at 220k ever since the seller listed it originally. Sometimes with fishy transactions you see a price change right before the offer was accepted.

2 – The home was previously in escrow, then came out and went active again.

3 – The escrow period was not exceptionally long or exceptionally short.

4 – Yes I agree the home sold price is substantially out of whack compared to the comps for identical floorplans yet it may not be fraud. Yes with a high enough downpayment then the bank may still indeed lend up to 80% on the appraised value.

Anyways, well… it kind of sucks but it is what it is… which is way out of whack but not unexplainable.

[SD Realtor]

Akbar I don’t have many answers for you on this one however consider the following…

1 – The sales price was consistent at 220k ever since the seller listed it originally. Sometimes with fishy transactions you see a price change right before the offer was accepted.

2 – The home was previously in escrow, then came out and went active again.

3 – The escrow period was not exceptionally long or exceptionally short.

4 – Yes I agree the home sold price is substantially out of whack compared to the comps for identical floorplans yet it may not be fraud. Yes with a high enough downpayment then the bank may still indeed lend up to 80% on the appraised value.

Anyways, well… it kind of sucks but it is what it is… which is way out of whack but not unexplainable.

[Author]

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