failed escrow

There are currently 9 blog entries related to this category.

Yes, it surprised us a few weeks ago when 311 32nd (3br/3ba, 3500 sq. ft.) posted a deal.

We noted the deal in the MB Property Ticker, but not here on the blog.

This big, ocean-view TH had sold in April this year for $2.600m, then turned right back around in July asking $3.200m.

The very best we could say in our post then was, "Good luck with that." (See "A Quick Return to Market, +23%.")

Turns out, they had some luck. After 4 months, a serious bite. But now, that deal has flopped out.

D'ya suppose an appraisal had something to do with it?

Undeterred, this one's right back out on the market at $3.2m again.

Good luck with that.

Buyers get flaky, sellers get obstinate, inspections are a problem, and appraisers and lenders... don't even get us started.

So much can go wrong after a deal is struck.

People agree to buy or sell a house, and then reality kicks in. Will it happen?

So many obstacles. So many points of stress. There's weirdness from neighbors, heirs, city rules, contractor estimates, investor input, someone's contingent sale here or there... few real estate deals are straightforward.

Maybe too little is written about the complexities and conflicts that emerge after escrow opens.

But most of it can't be written. It's confidential.

Still, as a seller, you hate to go into escrow and come back to market. That can hit your value. Listing agents are very quick to point out if it was…

Trying to track RE listings can be like trying to follow bouncing balls.

One has a deal. Or does it? No. Oh, yes it does again. 

Another listing cancels. Then it comes back. Are they in? Are they out? In?

Bouncing around over the past week has been 2812 Elm. This short sale made a deal more than a month ago (news featured in "Breaking the Ice?") but, late last week, went "active" again, as several readers noted.

Now, it would appear there's a new deal in place. Good news, if true.

Recall that the current owners paid $1.584m in June 2005; last list price: $1.299m (-$285k / -18% from 2005).

660 33rd (5br/5ba, 4500 sq. ft.) is big new construction that has hung around heavily (475+ DOM).

Along the way it faced NODs, got slated for auction in August (see "More on…

One bright spot is the news that one of the great Tree Section offerings has a buyer.

700 35th, as MBC has said before:
is a lovely, large (5br/4ba, 3675 sq. ft.) home in a quiet location with a seriously large yard (for the Trees).
The listing can still be viewed while in "backup offer" status. But if you haven't seen the house (2003 build) in person, it's hard to get the whole picture.

MBC most recently lavished attention on this home in March with "Back Again on 35th," though the history goes farther back. We called a pricing poll 11 months ago, and reported the results 2 weeks later.

The capsule version of this listing's story: The sellers paid $2.5m in 2006, tried to get $2.7m in 2008, and realized in 2009 that they'd better try closer to $2.3m.

Last priced…