I got a call from an Asian gentleman this morning in the SF Bay Area about the house he bought when his son started college 8 years ago. Now that he has graduated, dad wants the kid to cut the freeloading and move out already... Dad says to "drive by the house and send me what your offer would be. I'll think about it."
Check out the house.
Here's the numbers.
Zillow says $553-590k
Cyberhomes: $495k
Realquest: $584k
The house needs:
Exterior paint
Roof update
Upstairs balcony repaired (hammered. dry rot, leaning to the ground.)
New windows throughout
Interior paint (guessing here, but with college students in there for 8 years?... plan on it.)
Interior flooring - carpet likely to need replacing.
Ceiling scraped (likely cottage cheese ceiling.)
Bathrooms redone (again, with the college students & 8 yrs...)
My likely offer is going to be in the $408 range for an 11 Day Sale auction and would be even lower for a wholesale deal. Since he owes $400k, I'm not likely to get my wholesale offer accepted, but I'll throw it out there just in case he wants to bring $$ to closing.
Walking distance to Cal Poly and a retail value just a hair under $600k. Unreal.
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1 comment:
What an injustice! Drive by and give me an offer! You better harp on him the fact you're doing it sight unseen! Hit those hot buttons!
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