Marysville Auction Flip
LOAN AMOUNT: $97,000
FINAL SALES PRICE: $189,950
LOAN DATE: Funded-October 2012, Paid Off-January 2013
LOCATION: Marysville, Snohomish County- Residential
TYPE: Foreclosure Auction Loan- 9 month Term
DETAILS: The borrower, who has extensive experience in building and remodeling residential houses, purchased the property at the Snohomish County foreclosure auction using Liberty Capital Real Estate Services data and a Liberty Capital Network Realtor. The borrower purchased the property for $111,000 in October 2012 and created additional value by investing $25,000 in remodel upgrades. The property was listed within 45 days of auction purchase, and went under contract in under 60 days of purchase. The property was closed and sold in early January 2013 for $189,950. The property is a 1400 square foot, 3 bedroom split-entry property with an attached 2 car garage.
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Veristone does not finance owner-occupied properties.