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Redfin Real Estate Forums :
Chicago :
Re: Court Ordered/Bank Sale
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Court Ordered/Bank Sale
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jonl
Newbie
Posts: 1
Registered: 06-07-2009

Message 1 of 3

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1. In the property information of a listing, it has "Court Ordered/Bank Sale". What does this mean and how is this different from a short sale or foreclosured property, which I am familiar with? 2. If the price listing on a property had been steadily dropping, why would a seller increase the price in the most recent listing?
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06-07-2009 03:58 PM
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Re: Court Ordered/Bank Sale
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Greg-Whelan
Regular Visitor
Posts: 6
Registered: 03-02-2009

Message 3 of 3

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Hi Jonl, 1. The phrase "Court Ordered/Bank Sale" is usually code for a bank owned property. This property has already gone through the foreclosure process. You can read about the differences between short sales and REO's on our Redfin Blog 2. There are couple of explanations why a property that has been steadily dropping in price would increase their price. My first thought is that the seller made some sort of an improvement to the property, through which they feel they increased the value of the home. An example would be installing all new windows. My second thought, is the the seller is pretty close to their perceived bottom, but the listing agent wants to get a boost in views in MLS, so they made an small price change upward to "refresh" the listing on the MLS.
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07-20-2009 12:36 PM
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