JUST SOLD! Historic Eccles Mansion

I recently closed with a client on this beautiful mansion on Eccles Ave. in Downtown Ogden.  This home was a bargain for my client who purchased it at a significant discount below market value. The home came up for sale in March and was property of the State of Utah.  It previously was used as a group home for women in distress.  The home boasts original woodwork, fireplaces, and all the fine craftsman features in these types of historic homes. 

The home sold for $250,000.  At over 4700 SQFT that makes this home a great value. 

We did have some issues getting this home to close since we used an FHA loan.  The appraiser cited flaking paint that needed to be repaired prior to closing.  Unfortunately, we had two hurdles to cross.  First, the home is a Historic Landmark in Ogden city and required approval by the Landmarks Commission to get paint done.  I was able to get that handled in an amazing 30 minutes at the Municipal Building.  The second hurdle came from the State.  They didn't want to do the work until they realized that it was required to close.  Then their contractor bid came in at $6,000 for three hours of work of scraping and painting.  Our bid came in at $250.  We asked them if we could do it ourselves and they refused citing liability concerns.  Finally, the State authorized our contractor to do the work and we closed.  It was a lot of fun jumping through government hoops.  I would say they added an additional 10 days to our contract time.