Jeff Horton
Senior Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Alabama
I have decided not to use this sale since I have other comps but curious how other would view this.
House shows in MLS as sold in January. Went out to look at the house and it has a new agents sign in the yard. I called the agent to make sure what happened. Seems the owner and wife were getting a divorce. Per the realtor the only way he could get her out of the house was to buy it. So he make an anonymous offer to buy the house and succeeds. When he take possession he immediately put it back on the market.
The sales price seems fair but that conditions of the sale concern me. As I said I have others I can use that don't have the headaches but is this a fair market sale or not? I can argue it either way. But I think underwriters might have a problem with the this one.
House shows in MLS as sold in January. Went out to look at the house and it has a new agents sign in the yard. I called the agent to make sure what happened. Seems the owner and wife were getting a divorce. Per the realtor the only way he could get her out of the house was to buy it. So he make an anonymous offer to buy the house and succeeds. When he take possession he immediately put it back on the market.
The sales price seems fair but that conditions of the sale concern me. As I said I have others I can use that don't have the headaches but is this a fair market sale or not? I can argue it either way. But I think underwriters might have a problem with the this one.