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Just offered all cash on Bank owned property - got beat out since other offers were also cash "above listing price"...
..my offer was just under listing price...
can I ask broker 2 things..
1) How much higher the other offers were - I'd assume he wouldn't give me $$ amount since it's confidential?? But I want to know if they were significantly higher or hair above listing..
2) Who the seller is (ie which bank or asset mgmt firm it is holding this property)??
You can ask, but the listing agent typically won't tell you what the other offer was. You'll know when it closes though, unless you are in a non-disclosure state.
The bank is also public record. How can you have written up an offer on a property without knowing who had the title?
If you really want to know how much the property sold for, after the sale the deed is recorded. On the deed are "stamps" - the amount of the stamps will tell you the price paid. It will be at the "recorder of deeds", "Land Records" or similar office. The original document is returned to the owner after recording which generally includes a photocopy in a hard-bound book. There will be two indices: by grantor/ee and by address.
If you really want to know how much the property sold for, after the sale the deed is recorded. On the deed are "stamps" - the amount of the stamps will tell you the price paid. It will be at the "recorder of deeds", "Land Records" or similar office. The original document is returned to the owner after recording which generally includes a photocopy in a hard-bound book. There will be two indices: by grantor/ee and by address.
Thanks, I get this as I already have a rental in NYC and once I closed a quick easy search shows my name as owner and price paid on different sources...that unit was a condo
The thing is, this is a co-op in NJ.. when I try to look at price paid it only shows up the entire BUILDING, not each individual units, since it's shares owned as opposed to "real property" per unit w/condo if you will..
it's taxed as a building (not per unit like with condos) so sales of individual units unfortunately don't show up...
im assuming you're in NY where co-ops are popular.. any experience with finding individual co-op apartments posted with sales CLOSING price (as opposed to LISTING price)?
the board seems quite private for this particular co-op, could they request block of posting co-op unit sales or is that even allowed? thanks again
Are you thinking of using it as a comp for another potential purchase? The curiosity can really "itch" at someone but if you find out it was only a hair more it may just be info you would be better off not knowing. Unless you are using the info for something specific it may be wise to just leave it in the past and concentrate on the next investment.
Are you thinking of using it as a comp for another potential purchase? The curiosity can really "itch" at someone but if you find out it was only a hair more it may just be info you would be better off not knowing. Unless you are using the info for something specific it may be wise to just leave it in the past and concentrate on the next investment.
short answer yes...
longer answer, all deals aren't final until final.. you never know current offer may get cold feet and back out...
if i can happen to get the price (or ballpark % above listing) i will bring up my current offer to that or above, in case current offer gets cold feet during 3 day attorney period review (NJ)
The bidding process is confidential and no one can tell you what the pending offer price is. If you want to increase your offer, you will just have to "go with your gut" and do it. If not, move on.
After the property closes, there should be no reason to look up the deed etc. Simply call the broker who you placed the offer with and ask him/her; it's the same thing as requesting "comps". Should not be a problem. Repeat: If not, move on. It's spilled milk.
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