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Bruce Wagg

Piedmont - Oakland - Alameda - East Bay Real Estate

If you have any questions or wish to see a home, please contact me via phone at 510.517.6280 or fill out the form to let me know how I can help.

Piedmont CA Realtor 342 Highland Ave.
Piedmont, CA 94611
Direct: (510) 517-6280
Office: (510) 428-0900
Fax: (510) 428-1224

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Steal this Home $299,000 - Part II

Posted by Bruce Wagg on Tuesday, February 24th, 2009 at 11:03am.

So the auction for the 'perfect' house in Berkeley had some bumps along the way. At the last minute, a termite report was produced which detailed $14,000 to $24,000 in repairs. Personally, I would never trust a report with that much leeway, especially one that came in the day before the auction. The auctioneer had previously assured me that the termite work had been cleared two years ago so this was troubling to me.

Plenty of people showed up in the rain to bid but ultimately the home didn't sell. The reserve was $525,000, which might have been fine if there was no additional work to be preformed, but that termite report was looming. The home is back on the market for $525,000 or best offer. Good luck to the sellers because they have had the hardest time selling this home and the auction just prolonged the process.


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