This just hurts, because anytime you have someone with $3MM cash burning a hole in their pocket that they’d like to dump into…well, a dump, you gotta shake your head in disbelief when the property is just not there for the taking.
But then the shining star, 3711 Clay (maybe not totally shining) comes along and you think you’re in there. This is a 4 bed, 4 bath, 3700 (approx) square foot home in Presidio Heights that was built in 1891.
Listed at $1,950,000, they handed out 30 disclosure packages (when someone takes a disclosure package they’re usually pretty interested in making an offer), set an offer date of May 1st. They received 10 offers. Now it gets good.
This buyer’s offer was $2,700,000 (already $750,000 above asking), no contingencies, close in two weeks. They were one of two offers countered by the sellers, and what this buyer saw in their counter was $2,750,000, seven day close. This buyer then went back to the seller even higher to $2,775,000, two day close…obviously all cash…and they didn’t get it!
Under-pricing aside, there are 9 or more buyers out there interested in properties like this “total fixer”. Got one?
[Update:Selling for $2,825,000…so we’re told.]

–3711 Clay, Last Update…Since you Asked [sfn BLOG]
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