Category Archives: Foreclosure Auction Loans


Jul

23

2016
Smart and Fast = Success

Smart and Fast = Success

Every deal is about knowing the numbers! And it’s been said that the most important number is the After-Repair-Value (ARV). Knowing this number before you acquire a property can be the difference between making a great deal versus making a deal you wish you could forget. The majority of discounted properties are usually junk properties, vacant properties and/or fixer-uppers. They’re often in need of many…

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May

18

2016
Real Estate Radio NW – Part 2 – Focus on Team

Real Estate Radio NW – Part 2 – Focus on Team

In our previous look at the Real Estate Radio Northwest show, we reviewed the discussion on sourcing properties. In this look, we want to review the discussion on sourcing and utilizing a team of professionals. This airing of the program was hosted by Nick Neal from Graystone Mortgage, had guests Ian Morell and Zack Lazo from Caliber Real Estate and Travis Wandell from Veristone. The show…

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Aug

28

2014
Bonus Auction Parcel

Bonus Auction Parcel

For the second month in a row, a Veristone client found excellent value at the foreclosure auction by securing two parcel for the price of one. While performing due diligence on this Pierce County property, the client realized that there was a second unfinished housing frame on the additional parcel that nobody else knew about.  Where other buyers saw a 1,380 square foot home with…

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Aug

06

2014
2 for 1 Auction

2 for 1 Auction

At the Seattle Trustee Auction, a Veristone partner secured two King County parcels for the price of one.  Veristone’s access to responsive title services as well as efficient communication with realtor Jason Bryant (Principal Northwest) provided our client with information regarding a hidden land parcel that was attached to one of the live properties at auction.  This bonus significantly increased the investment value, creating an…

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Sep

10

2013

Lacey, Washington Auction Loan

VERISTONE DEALSHEET LOAN AMOUNT: $132,000FINAL SALES PRICE: $215,000LOCATION: Lacey, Washington- Thurston CountyLOAN DATE: May 2013 to August 2013LOAN TYPE: Auction Loan, 9 Month TermDETAILS:  The borrower on this subject property in Lacey is an experienced distressed property investor in Thurston County.  The Veristone borrower purchased the property for $151,000 in May 2013 at the Thurston County foreclosure auction.  The subject property is a 1996 Year-Built home…

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Jul

09

2013

Edmonds Auction Loan

VERISTONE DEALSHEET LOAN AMOUNT: $272,000FINAL SALES PRICE: $524,950LOAN DATE: November 2012 to June 2013LOCATION: Edmonds, Snohomish County- ResidentialLOAN TYPE: Fix & Flip Loan, 6 Month TermDETAILS:  The borrowers on this Edmonds flip are experienced auction professionals.  The borrowers purchased this property at the Snohomish County foreclosure auction in October 2012 for $251,000.  They then refinanced into a Veristone Fix & Flip Loan in November 2012…

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Jun

24

2013

Buckley Airfield Property Auction Loan

VERISTONE DEALSHEETLOAN AMOUNT: $290,000FINAL SALES PRICE: $475,000LOAN DATE: March 2013 to June 2013LOCATION: Buckley, Pierce County ResidentialLOAN TYPE: Auction Loan, 9 Month Term DETAILS: This very unique property was purchased at the Pierce County foreclosure auction in early March 2013 for $333,000.  This property was purchased by a very experienced real estate investor who works with John L Scott Foreclosure Services.  The house  boasts 2700+ square feet and sits on a…

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Jun

24

2013

Bremerton Auction Loan

VERISTONE DEALSHEET LOAN AMOUNT: $139,000FAIR MARKET VALUE: $280,000LOAN DATE: Funded May 2013LOCATION: Bremerton, Kitsap County ResidentialLOAN 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…

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May

14

2013

Maple Valley Auction Loan

VERISTONE DEALSHEET LOAN AMOUNT: $126,000 FINAL SALES PRICE: $228,000 LOAN DATE: December 14th, 2012 to April 1st, 2013 LOCATION: Maple Valley, King County- Residential LOAN TYPE: Auction Loan, 9 Month Term DETAILS: Our Veristone Capital borrower obtained the subject property at the King County foreclosure auction in December 2012 for $144,000.  The borrower is an experienced real estate investor who partnered with Skyline Properties and…

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May

07

2013

Tacoma Auction Loan

VERISTONE CAPITAL DEALSHEET LOAN AMOUNT: $137,000FINAL SALES PRICE: $225,000LOAN DATE: November 2012 thru April 2013LOCATION: Tacoma, Pierce County- ResidentialLOAN TYPE: Auction Loan, 12 month termDETAILS:  The subject property was one of almost 50 auction deals funded by Veristone Capital in 2012.  The property was purchased last November for $157,000 and was updated during the Holiday season with new carpet, new paint, and a refreshed kitchen. …

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