Bremerton Auction Loan
LOAN AMOUNT: $139,000
FAIR MARKET VALUE: $280,000
LOAN DATE: Funded May 2013
LOCATION: Bremerton, Kitsap County Residential
LOAN TYPE: Auction Loan, 9 month Term
DETAILS: The subject property was sold at the Kitsap County foreclosure auction in late May 2013 for $160,000. The borrower is a highly experienced real estate and foreclosure investor, who specializes in Kitsap, Pierce and Thurston counties. The subject property is over 2500 square feet and has substantial views of Oyster Bay from many rooms. The property had a makeover in 2007 with a new roof and paint. The final fair market value includes finishing out the basement. The majority of Veristone lending is done in Pierce, King and Snohomish Counties, but we are excited to lend on opportunities such as this in Kitsap County.
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Veristone does not finance owner-occupied properties.