I just closed on this very interesting short sale listing.
This property was a top contender in the gross-out category for craziest homes. It had been abandoned for 4 years and become a frequent den of iniquity.
Yet, the property has good bones and a lot of architectural appeal despite the abuse it's received. We listed the property at $44,900. In an indication of where we are in our current market cycle, we received four offers the first day this property went on the market.
It took us only 75 days to conclude the transaction with a cash buyer at $40,000.
Amazingly, the bank was owed $136,000 in principle and fees and they agreed to come down to $40,000 to make this transaction work. It is quite the write-down.
Indicative and congruent with the direction Ogden city is moving, the buyer will be doing a complete restoration of the property and transforming it back to its previous luster. It will be exciting to see what they do to this historic property.
If you are upside down on your home or our unsure if you can sell in today's market, CONTACT ME, and lets discuss your specific situation and how we can help you achieve your goals.
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