Since we're on the subject of distress sales east of the highway...
We note that it took about 3 months to draw a bid in at
1205 23rd St. (5br/5ba, 3500 sq. ft.), but they've posted a deal as of Wednesday afternoon.
You'll recall – we hope – that this is no ordinary bank-owned property. (If there is such a thing as a…
Since we're on the subject of distress sales east of the highway...
We note that it took about 3 months to draw a bid in at
1205 23rd St. (5br/5ba, 3500 sq. ft.), but they've posted a deal as of Wednesday afternoon.
You'll recall – we hope – that this is no ordinary bank-owned property. (If there is such a thing as a normal case.) This one had been vacant for 5 years after the last buyer tried to nab it, but wound up homeless instead. (Being forced into a small, emergency rental instead of moving into the big house you contracted to buy is a form of homelessness.)
The whole sad tale is in "
A Cloud Over 1205 23rd" from late December.
The cloud on title for this property, originating in litigation over an alleged phony investment scheme run by the former owner, was said to have been "fixed" before the home hit the market in late 2011. And we hope that's true. The buyers are about to find out.
As the former would-be buyer of 23rd said to MBC: "[I]f I knew half of what was behind this home when looking at it, I would have never entered escrow."
Here's hoping, again, that everything is clear, and that these buyers are going in eyes wide open with all the information they need. If they make this deal stick, they may wind up with a compelling bargain.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 18th, 2024 at 7:25pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.