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[TN fan]

Your welcome....and thanks.

 

[Smiling JOe]

In summary, over half of the properties that were being sold Saturday were confirmed sold (I waited around to see people signing contracts just to be sure these properties actually sold) and it seemed like the remaining properties had a good chance of being sold.

On a technical note, a signed contract is not equivalent to a sold property, especially in today's market.

 

[SHELLY]

Winning bids on the condos?.......


The top floor units (3rd floor) went for 395K plus the buyer's premium. The units on the 1st and 2nd floors went for 355K and 345K plus the buyer's premium.

A 39% discount.

(Beautiful views of Old River, River Colony is located just minutes from the Gulf and right across the street from WCI Lost Key golf course. 11 Units are available. Oversized garage included with each unit. 4 Top units priced at $650K each. )


Now let's see if the buyers can get their purchases past their banks' underwriters.

.

 

[TN fan]

On a technical note, a signed contract is not equivalent to a sold property, especially in today's market.

I understand a signed contract does not ensure a closing, but it does show offer and acceptance. And I don't know many people who would walk from a non-refundable 10% deposit.

 

[SHELLY]

I understand a signed contract does not ensure a closing, but it does show offer and acceptance. And I don't know many people who would walk from a non-refundable 10% deposit.

...it's been a pretty regular event since the beginning of the dot-condo meltdown.


.

 

[TN fan]

...it's been a pretty regular event since the beginning of the dot-condo meltdown.


.

I consider the dot-condo meltdown (I love that term by the way!) a different situation. Most of those were people who had committed at the market boom and by the time they were ready to close, the bubble had burst and many of these units were not worth 200K and more less than they had committed too. I can't blame them from walking from that.

 

[fisher]

I consider the dot-condo meltdown (I love that term by the way!) a different situation. Most of those were people who had committed at the market boom and by the time they were ready to close, the bubble had burst and many of these units were not worth 200K and more less than they had committed too. I can't blame them from walking from that.

Can any of the realtors on this forum give some insight into closings versus walk aways in Sanctuary at Redfish and Redfish Village. And, coming soon
Sanctuary by the Sea?

 

[Babyblue]

How many properties will be sold on the 17th ol wise group.

 

[SHELLY]

How many properties will be sold on the 17th ol wise group.

I called Miss Cleo....

....she said any properties auctioned as "absolute" will sell; when I asked her about the others, she said we'd have to pay her $59.95 per minute (but I did hear her laughing in the background).

.