UPDATE – Now Pending Sale – Bank Owned 3 Bedroom at Imperial at Brickell – $479,900

June 25th, 2013 Written By


Actually, it was under contract after only three days of being on the market. And it’s not because the Listing Broker has any special knowledge of the building or the improvement work going on or anything that a regular market sale requires.

It went under contract in 3 days because it was priced under market value. When a foreclosure happens and the bank finally ends up owning a property, it becomes a bad asset and needs to get off the books ASAP. That is what happened here. And there is plenty of cash sitting on the sidelines ready to act quickly.

We received calls over the weekend from readers of the blog who were interested, but it was too late.

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