CRR Blog

Winter Win! West LA Condo with over $100K in Equity... Bam!!!


On Wednesday 12/21/2016 a buyer at auction picked up a 3BR/3BA Condo.



The lender was owed $892,322...  But the property has a market value of $858,003 so they decided to drop the bid price and draw in a buyer.



Bidding started at $701,250... and there was someone ready and willing to pick up the property below market price.



They bid just one penny over.  Got it!  $701,250.01



I wonder if they stuck the auction receipt in someone's stocking....


1/2 a Million Dollars in Equity.... Enuf Said...

On 11/28/2016 a 5BR/4BA Classic 1920's Home with obvious modernization upgrades went to sale on Lucerne Blvd in Hancock Park.  Est Value over $2,000,000.00 and amount owed to lender in 1st position...  @ $1,900,000.00


Opening bid at auction...DROPPED!!!


Purchase Price by Bidder $1,443,000 !!!


As I said...  Enuf Said.


When will you start bidding?  How much of a discount makes sense to you?  Are you waiting for better times?


Join our webinars.  Those times are here... if you have the desire and the curiosity to find your deals!


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