Another Burned Out Home For Sale

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already contingent.

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Was just reported on news, multiple offers, all cash!!! Buyer is a builder apparently. Will close in (gasp) 10 days…

not surprised. you can’t get mortgage for a burned house.

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True, but to think there are more than a few people out there with over 1.5M in cash ready to pull the trigger on any property is scaaaary…

Builders put together investors in advance…I get letters all the time…Plenty of money chasing too few deals…


Here’s one in LA/Cupertino for 2.1

Cheap! Cheap!

What do you think it will go for?
It’s not in a great neighborhood.

You da man in Oaktown now (along with Fearless Leader). I didn’t read into it. Is the lot decent sized to build bigger/better?

Why are burnt out homes even for sale? Shouldn’t insurance be fixing these places up?

It’s on a busy street in a tough neighborhood. There’s a ceiling on the max price.

After rebuild and expansion (at least 3/2), I can imagine it can go for high 600 or low 700.
That’s my opinion at least.

Good question. Well, let’s be fair and not discriminate this one just because it is Oakland. We have seen burnt out homes in SV too right? So, like you said, why didn’t insurance come into play? Maybe no or too low insurance coverage and/or maybe owner already owns the place fully but does not want to sink in the money or does not have the funds to do it right.