In December we posted a deal about 15 condos in Naples FL. In just over a month the seller lost his deal and realized the price was too high.
Those properties are among a group that were taken back by the bank, and a better deal was negotiated by dealing directly with the bank and cherry picking a better group of properties.
The original deal was 9 – 3 bedroom and 6 – 2 bedroom units being offered at $2,322,000. We eliminated the higher priced properties and improved the package, as we now have a better mix of 13 – 3 bedroom and 2 – 2 bedroom for a price of $1,350,000. That’s almost a $1 million price drop for a better group of properties.
The challenge is we have only 5 days to get these under contract. A buyer will need to put $2000 into escrow for each unit by the end of the 5 days, and the contracts will be assigned to the new buyer at that time. I will be available 24X7 for the next 5 business days.
Contact me at bobbaumandeals@gmail.com if you or your client can move on these FAST.
Filed under: REO, condos, florida, off-market, real estate | Tagged: condos, florida, motivated seller, naples, REO
