Smithfield, Rhode Island 02917
Listing Details
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Smithfield, RI 02917

3 Beds | 2 Baths | 1,331 sq. ft.
Short Sale
Listing ID: 51693074

$169,000

Short sale properties represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value. Existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons. For more check out 'First Steps' below.
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  • Property Information
    • Price: $169,000
    • Bedrooms: 3
    • Bathrooms: 2
    • Full Baths: 2
    • Living Area Size: 1,331
    • Basement: Yes
    • Total Square Feet: 1,539
    • Lot Size: 0.33 acres
    • Style: Cape Cod
    • Heating Type: Forced Air
    • Year Built: 1940
    • Description: 435 Farnum Pike 3 Bed, 2 Bath Cape Cod, some hardwood floors with ceramic tile. Oil heat, electric hot water. Convenient to 295. Will not pass FHA inspection. Being sold "as in condition". Needs interior and exterior renovations. Shared well, Cesspool has failed. Subject to Short Sale Approval, Negotiator is in place. Copyright 2019 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
    • Comments: Listing Status: Pending
    • Source ID: 1211323
    • Day(s) On Site: 278
  • Property Tax Roll
    • Property Type: Single Family Dwelling
  • County Tax Roll
    • Bedrooms: 3
    • Baths: 1
    • Full Baths: 1
    • Rooms: 6
    • No. of Stories: 2
    • Exterior Wall Type: VINYL
    • Heating Type: FORCED HOT WATER
    • Roof Material: ASPHALT SHINGLE
    • Roof Type: GABLE
    • Land Area Sqft: 14,288
    • Year Built: 1940
    • APN: SMIT-000049-000000-000030
    • Property Type: Single Family Residence
    • Living Sqft: 1,331
    • Style: CAPE COD
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  • County Information
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  • Mortgage Information
    • Estimated Monthly Payment: Payments as low as $888 per month
    • Monthly Payment Disclaimer:

      Based on a 30 year fixed-rate of

      5.75% with $16,900 (10%) down.

      Check rates now!
Listing History
Start Date End Date Listing Type  
08/01/14 09/17/14 Short Sale View now
10/26/06 02/01/07 Foreclosure View now
  • Contact Information
    • Agent Company: Alltown Real Estate Group
    • Agent Name: Brian Curley
    • Agent Company Address: 357 Putnam Pike
    • Agent Company City: Smithfield
    • Agent Company State: RI
    • Agent Company Zip: 02917
    • Agent Company Phone: (401) 949-5400
    • Agent Company Email: Email Now
    • Agent Phone: (401) 949-5400
    • Agent Email: Email Now

FIRST STEPS:

Short Sales

You've identified an ideal short sale property. Now what? Short sale properties represent tremendous opportunity to you as a buyer because they are aggressively priced to sell well below or just at fair market value.

Read more

Indeed, the existing homeowners are typically distressed and eager to sell for less than what is owed on their mortgages. They are "underwater" and either can no longer afford their mortgage payments or are simply unwilling to continue to make them for various reasons.

On the flip side, lenders are often willing to agree to sale prices that are considerably less than what is owed on the current mortgages because the alternative is foreclosure, a costly, complicated and expensive process that will most likely only clog their non-performing asset pipeline further.

Therefore, once you identify a desirable short sale property, it's important to contact a local licensed real estate professional - or the listing agent - who can walk you through the negotiation and purchase process.

You need to act fast!

That's because short sales are time-sensitive. In addition, it's not a "traditional" transaction, meaning that it often takes longer - about four to six months on average - to close a deal.

But, more often that not, it's well worth the wait ... literally and figuratively.

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