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…

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It's not every day that a nice home in the Bay Area is auctioned off. Usually auctioned homes are the dregs of the area, those that no one wanted to buy on the regular market, a cross between a fixer and a teardown. That’s why I was pleasantly surprised to see such a 'perfect' home in Berkeley ready for auction. The owners had obviously taken care of the home, and had painstakingly addressed every detail. The roof and foundation were new. The floors were freshly sanded and finished. The bathroom had been remodeled and the large kitchen had been tastefully finished. In the well manicured backyard there was a studio trimmed with wood that was used as an office.
So why was the house being auctioned off? The owners had always paid their mortgage, their bank…

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