3521 Wood Duck Ln - Short Sale Opportunity!

  MLS # 936801

SHORT SALE! Awesome value for investor or handy owner/occupant. 4BR + bonus home with wide open floor plan. Huge common spaces, 3 fireplaces, informal dining and living rooms with 2-story entry. Large lot for possible addition. Private, quiet cul-de-sac.

============

Here's the story: The seller of this home is in default of his mortgage, and is attempting to sell the home at less than what is currently owed on the property. This is traditionally called a "short sale". For more information on short sales, click here.

This home needs some TLC such as all new carpet or floor coverings, trimwork, new/updated appliances, upgraded bathrooms and other handywork. There is no apparent structural damage to this home. The electrical and plumbing have been quickly tested simply by turning on the utilities.  There seem to be no deficiencies.  However, this has not been professionally tested by a qualified contractor or licensed home inspector. Upon a quick visual inspection, the roof seems okay, but does seem to have a 'tarred' patch near the ridge. The HVAC has not been tested since it is fueled by a propane tank (empty).  All prospective buyers are strongly urged to make an on-site visit and it is highly recommened that you hire a professional, licened home inspector. Otherwise, the home is in operating mechanical condition according to the Seller. Any Buyer wishing to perform an inspection will be responsible for turning on utilities in their OWN name.  The Seller will take no responsibility for utility activation.

The Seller purchased this home in '06 for $307,000 and owes more than that amount at this time. We originally listed the home at $275k, then $249k and then $215k. We received an offer of $220k which WAS accepted by the lender, but the Buyer was unable to get funding.

UPDATE 11/7/07: THIS HOME WILL BE BACK ON THE MARKET ON TUESDAY.  BUYER WAS UNABLE TO GET PRIMARY FUNDING BUT HAS REQUESTED A FEW MORE DAYS.  CURRENTLY, WE ARE TAKING BACKUP OFFERS UNTIL THE TIME PRIMARY BUYER'S CONTRACT IS TERMINATED.

WE KNOW THAT THE LENDER WILL ACCEPT $220,000. DON'T EVEN TRY FOR ANYTHING LOWER.  SAVE YOUR TIME IF YOU CAN NOT OFFER $220,000 WITH A QUICK CLOSE DATE. SALE DATE IS 11/26. MUST CLOSE BY 11/23! BUYER MUST BE WELL-QUALIFIED WITH NO DOUBT THEY WILL BE ABLE TO CLOSE ON TIME. POSSIBLE EXTENSION MAY BE GRANTED.

For more information, please call Drew Ludlow at 919-303-6722 or email drew@drewludlow.com.

To download more interior pictures for this home, click here.

To download the disclosures for this property, click here.

============

All offers subject to lender FINAL approval. Needs some TLC - As-Is. See LA for disclosures. Offers at the list price or of lesser value may or may not be considered by lender.

Click here to view a VIDEO TOUR.

Living Area-Room Dim/Levels			Other Area-Room Dim/Levels
Entry Hall: 13x5 / Main		Master BR: 16.11x12.7 / Second		Garage: /
Living: 16.8x11.4 / Main		Bedroom 2: 14.6x11.6 / Main		Carport: /
Dining: 23.8x11.3 / Main		Bedroom 3: 15.3x13 / Main		Storage: /
Family: 20.11x20.6 / Main		Bedroom 4: 15.3x11.8 / Main		Porch: /
Office/Study: 13.1x12.7 / Second		Bedroom 5: /		Patio: /
Kitchen: 14.2x8.6 / Main		Utility: 7.8x6.9 / Main		Deck: 12x19 / Main
Breakfast: 12.1x9.3 / Main		Bonus: 17x10 / Second		Scrnd Porch: /