I just closed on the sale of this short sale listing in Ogden.
This 2 bed 1 bath cottage is located at 1118 22nd St. The owner of the property needed to sell and it was over encumbered with loans. We initiated a short sale with an initial list price of $81,900 in September of 2014. We received few showings at that time. In November 2014 we reduced the price to 71,900 which spurred much more activity. In December we received an offer for $64,000. The sellers agreed to the offer and the hard work of negotiating the short sale began.
It took five months of tedious effort to get the short sale approved with Wells Fargo accepting the $64,000 price point. Once approved though, the buyers quickly proceeded with their due diligence and closed with a cash transaction.
The owners will be redesigning the floorplan to include a third bedroom and relocating the kitchen. The home should shine with all-new floorplan and finishes and the buyers should double the value of the home through these improvements.
If you are struggling with making mortgage payments you can't afford or owe too much on your home, CONTACT ME, and we can explore the options of a short sale and how that can benefit you.
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