Edmonds Auction Loan
LOAN AMOUNT: $272,000
FINAL SALES PRICE: $524,950
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.
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Veristone does not finance owner-occupied properties.