Victorian-era home snapped up by developer despite boarded-up windows, peeling paint and unstable foundation.
One commenter joked:"It actually has a parking space. No wonder it sold for almost 2 million!"
A Victorian house in San Francisco's Noe Valley neighborhood sold for $1.97 million despite peeling paint, broken windows and an unstable foundation.The property sold for several hundred thousand dollars more than other comparable fixer-uppers in the area as a result of a complex conservatorship sale, said Todd Wiley, who represented the seller.
Wiley said a judge approved the sale of the house after its elderly owner was placed in a conservatorship. The man's family, concerned about the way he was living, hired a licensed fiduciary to handle the sale with the proceeds going to pay for his continuing care, according to Wiley. The house initially received the highest offer of about $1.4 million, and a probate judge ratified the offer, setting off a roughly 7-week process where the house stayed on the real estate market, generating intense interest."That kept things low and kept five to six bidders in the game," Wiley said. Two people ultimately went neck and neck, he said,"and it's that auction environment that led it to go where it was.
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