Introduction
This case study illustrates the approach that Harlem Lofts applies to sales of properties in foreclosure, using as an example 3 E 128th St., a lovely four-family townhouse.
- Harlem Lofts is a NYS Part 36-appointed brokerage, which more easily allows us to help the owners of properties in foreclosure.
Stage 1: Preparation for Sale
- We carefully researched the financial history and court records of the townhome.
- Once research was complete, we worked with the owner, court and lender to establish that a syndicated listing would generate a sale for full market value.
- The townhouse was photographed and a boutique listing generated and launched.
Stage 2. Launch and Showing
- The listing was launched on all platforms and marketed to 6,000 clients via email and a mailer, and to investors with experience in buying properties in foreclosure.
- We hosted private showings at a rate of 2-4 per week. All guest contact information and comments were entered into our database, allowing us to monitor response.
- Harlem Lofts received a full-market value offer from a well-qualified buyer fully aware of the situation. Coordinating with the court and lender, the property closed for $2,050,000 to the satisfaction of all involved (Seller, Buyer, Lender, Court).
Summary
Harlem Lofts is a NYS Part 36-appointed brokerage. This study shows how we help owners of properties in foreclosure, generating a full-price sale to relieve a financial burden.