The Riverside home at 15 Linwood Avenue, foreclosed on last August, is being advertised on Craig’s List by a broker who claims to have the listing even though he hasn’t placed it on any regional or the Greenwich listing service. Frankie Fudrucker, who has experience with this sort of thing, suspects that it’s a young schlemiel, new to the real estate business, who’s been told by his boss to “go get some listings”. What happens in Brooklyn and possible, Riverside, is that the fellow goes prowling for a foreclosed property, puts it up for sale on Craig’s List and, if he finds a buyer, then goes to the lender and says, “have I got a buyer for you .”
Nothing necessarily wrong with that, and I have no evidence that that is in fact what’s going on here, but if Brooklyn is coming to Greenwich, you might want to make sure you know who you’re dealing with and whether in fact he has an agency relationship with the seller before you spend a lot of time and effort chasing a Craig’s List property.
8 Comments
October 26, 2009 at 1:23 pm
My last three eBay sales went bust with bad-faith buyers.
Enter Craig’slist. Just what the market needed. My last three Craig’s buyers showed up on time with cash in hand.
No questions. No problems.
What’s due diligence anyway!
October 26, 2009 at 1:30 pm
This reminds me a bit of the foreclosure that was announced this summer at 97 Lockwood in Riverside. Whatever became of that?
October 26, 2009 at 2:03 pm
I saw that house listed on Coldwell Banker:
http://www.coldwellbanker.com/servlet/PropertyListing?action=detail&ComColdwellbankerDataProperty_id=83855545&page=property&brand=CB
October 26, 2009 at 2:39 pm
So you’re saying just feed the monopolistic machine (mls)?! You are speaking out of both sides of your mouth CF. That isn’t too hard for even a crappy ex-lawyer like you but for self-styled semi-idealogue, that is damn near criminal. How can you be so critical of a group that you just recommended using?
October 26, 2009 at 2:43 pm
Huh? All I’m saying, Stan, is to make sure that, if you spend time negotiating on a house, you make sure that the person you’re negotiating with has authority to speak for the owner. Coukld be the local garbage man, for all I care.
October 26, 2009 at 7:36 pm
This property was listed on the Westchester-Putnam MLS by an agent affiliated with a Westchester County office of Coldwell Banker.
October 26, 2009 at 9:17 pm
Thanks – a reader pointed that out earlier. Odd that they wouldn’t advertise it to Greenwich agents or residents.
October 27, 2009 at 7:38 am
Maybe you could ring Sally Parris and get some more scoop!
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