'Uninhabitable' SF house with extensive damage listed at $1.4 million might still be a steal

The house was officially foreclosed on in 2012, but the longtime residents continued to occupy the house. In 2013, a single-alarm fire caused property damage to walls inside the structure. The family left the home recently, but crews had to remove “stuff in abundance” left behind throughout the three units. Modig notes that “a lot of dumpsters were taken away to make it accessible.” The bank’s appraisal of the property came in at $1.5 million, but the owners opted to list it slightly lower.

Multiple contractors hired by the bank says it’s less than 51 percent damaged, but estimate that it will cost between $650,000 to $1 million to return it to a livable condition. In the meantime, potential buyers who wish to walk through the unit — and there are some interested parties, Modig says — must sign a liability release.

That’s why you need to buy a house. Foreclosed in 2012 and only recently moved out. Without paying a singe dime, the deadbeat lived rent free for 5 years.

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I couldn’t find the address to this beauty…


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Why is Redfin lagging???

On my way to talk to the owner for deferral of the capital gains. Cha-chin!