Maple Valley Auction Loan
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 JD Investment Group to acquire and list this 2000 square foot, 1979 split level in the Cherokee Bay neighborhood. The property featured a detached 2 car garage, with 3 bedrooms and 1.75 baths. The property was remodeled and then listed in March 2013. The house went under contract at above list price in six days, and successfully closed in April 2013.
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Veristone does not finance owner-occupied properties.