It’s not often a deal like this comes around and everybody shares in the goods, but 727 Grafton promises not to disappoint.
Here’s the deal:
1. The seller gets to walk away (its a REO)…DEAL!
2. The contractors didn’t have to pull permits (“permit status if any is unknown”), or put in a kitchen, “The home has no kitchen or bathrooms…” DEAL!
3. Buyer gets “Ocean View Location” and a 3% (of selling price) credit towards closing costs (not to mention a $369,900 asking price)…DEAL!
4. The selling agent (represents buyer) will get a $3000 bonus…DEAL!
5. We get to talk about the downstairs “partial basement with framework of a room and potentially a bathroom”…DEAL!
Did we forget anyone who gets a good deal on this deal?
-727 Grafton [sfnewsletter listing detail page]
To the untrained eye, 1671 Bush St. is nothing more than a “spacious, elegant Victorian flat priced well below market comparables”, but to the wizards behind theFrontSteps
…it is an approved short sale, so time is of the essence, and we would like to sell as soon as possible. We are offering 4% commission to the buyer’s agent.
Okay, so we got spammed and the email gave us the short sale clues, but now you have them too. And since you’re reading, we’ll give you back 1.5% of that commission should you need assistance with that purchase.
As for help with the wallpaper. Sorry, our hands are tied.
Update: And a reader comes in with more details:
It opened at 1.13 then dropped to 995k.
It’s also been on craigslist some times for 899k and must sell.
All told, it’s been on the market for well over 12 months at roughly the same price.
For most of the time it has been in foreclosure, which makes me think that the owners haven’t paid their mortgage for about the 12 months that it’s been on the market.
Last sold was approx 400k in 1997. I’m guessing the owners did a massive refinance to the highest price they could appraise it at. (1.13) then stopped paying the mortgage. I hope the owners are taking a nice holiday with the money the borrowed from the bank before they stopped paying the mortgage.
Especially since it is “AS IS” and it has had no takers at roughly the same price for the last 12 months, look out below!
-1671 Bush St. [MLS]