Edmonds Auction Loan


LOAN AMOUNT: $272,000
LOAN DATE: November 2012 to June 2013
LOCATION: Edmonds, Snohomish County- Residential
LOAN 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 and commenced with an extensive remodel of this daylight rambler.  The investors performed a $130k fully permitted renovation, taking the property from 1600 finished square feet to 2900+ finished square feet.  They also enclosed the carport and converted the carport into an attached 2-car garage.  The house boasts a brand new kitchen with granite, stainless appliances, open floorplan and a master suite.  This property sold at $25,000 over its original list price of $499,000 after only  2 days on market in a competitive situation.  Veristone is proud to partner with experienced real estate investors in 2013 on over 120 deals year-to-date in Snohomish, King and Pierce Counties.

Davis Hsu

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