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Delistings

Started by jhr08rs4
about 16 years ago
Posts: 1
Member since: Nov 2009
Discussion about
I'm new to the NYC real estate market, so forgive me if this seems like a stupid question. I've been a regular visitor to this site over the last few months and I have noticed that there are numerous properties that have been repeatedly delisted and subsequently relisted a few weeks later. There is never any indication that there has been any buy/sell activity when this happens according to this site, all that is indicated is that the property has become unavailable, and then available again. Can anyone provide some insight as to what is going on here? If a property that I am interested becomes unavailable without explanation, would it be worthwhile for me to contact the realtor and express interest anyway? Thanks!
Response by mimi
about 16 years ago
Posts: 1134
Member since: Sep 2008

It's quite simple: it failed to sell. Sometimes it is re-listed by the same broker. Usually the seller will change brokers with the hope a new one will be able to sell. Listings with a long history of listing and de-listing show in most cases that the sellers are behind the market: they refused offers that now will be glad to take.
Sometimes a property has offers that are accepted but the bank will not finance them and the deal falls through.

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Response by bramstar
about 16 years ago
Posts: 1909
Member since: May 2008

As mimi says, it is often the case that a seller will pull the listing if it hasn't generated worthwhile offers only to relist at a later date at a lower price, either with the same broker or with another firm altogether. If there is a property you are interested in that is 'unavailable' you should definitely contact the broker! Chances are the owners still want to sell.

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Response by ManhattanBradNY
about 16 years ago
Posts: 37
Member since: Aug 2008

Just fyi, sometimes Streeteasy is not up to date. I have various buyers who send me listings via StreetEasy - and they are frequently in contract. The other thing that StreetEasy is really "off" with is the % down required by many buildings. There are a great deal of 25% down buildings that are listed at 20% down (although a good deal of banks are requiring 25% down now - depending on your financial situation). I have also seen some listings relisted - when in my broker database, they are actually in contract. Perhaps to have buyers contact the brokers who list them?

If you decide to work with a broker - or to explore that opportunity - I would be happy to speak with you....if only to answer any questions you might have. Feel free to "meet" my partner and I at our link on Top Agent - and you can also see a great deal of testimonials about our customer service:

http://www.youtube.com/watch?v=T5o1l7nmBsw

You have two of the highest caliber agents working with you should you decide to go with our team. I'd be happy to speak with ya!

Brad Malow
Charles Rutenberg Realty
212-688-1000
bmalow@rutenbergrealtyny.com

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Response by mimi
about 16 years ago
Posts: 1134
Member since: Sep 2008

Even better, contact the owners directly. If their contract with the broker has expired, and you didn't see the apt and sign in while the broker had the listing, they will save a lot of money (6%). In propertyshark you'll find the name of the owner.

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