The home at 842 San Domingo Dr is set to go to auction on 2/6/13 at 12 PM at 575 Administration Drive in Santa Rosa. The published bid is $242,129.00 It is my understanding that auction may require all cash and can not be financed.
There is only one lien with Wells Fargo.
The home is 2 beds, 1 bath and 877 sq ft. The lot size is 6,098 sq ft. It was built in 1952.
Without knowing the condition of the inside I can not make an accurate estimate but without that information I would guess the home is certainly not worth the published bid amount and therefore would only be a good buy if purchased for under $150,000.00 or less given the uncertainty of acquiring a house without knowing its condition.
Auctions are really for savvy experienced buyers who have construction skills, experience renovating homes, and/or can afford to be wrong when estimating what to pay.
Just my two cents; Unless you fall into that category I do not think buying a home at auction balances risk to reward.
Call me if you are interested in discussing the full spectrum of ways to purchase distressed property.
Realtor @ Keller Williams Realty International, Santa Rosa West
Certified Luxury Home Marketing Specialist (CLHMS)
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