Local real estate appraiser, Ryan Lundquist, gives a tour of a South Sacramento foreclosure. He asks the question, why do bank-owned properties often sell for less? Beyond a stigma for "foreclosures" and banks selling their REO assets at discounted prices, there is a very obvious reason why these properties sell for less. They're often not in very good condition.
This is a very typical foreclosure scenario, so it's no wonder why arms-length sales are not comparable and tend to sell for more - much more in some cases.
By the way, what do you think of the bathroom. Is that mold? What is it?
916.595.3735
http://www.LundquistCompany.com
http://www.SacramentoAppraisalBlog.com
@WGS669 Good point. :)
lundquistco 1 year ago
Disgusting as it was, I'd bet that the bathroom is cleaner than the Title. Ha!
WGS669 1 year ago