Louis, Home Buyer in San Francisco, CA

What's up with the strange sale prices on some properties. A 3br, 2ba condo for $50K?! Can anybody explan?

Asked by Louis, San Francisco, CA Mon May 4, 2009

Here's the link:
http://www.trulia.com/homes/California/San_Francisco/sold/17…

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Answers

2
Louis,

There are a variety of reasons this could potentially be. If the the property is a foreclosure the selling price may be listed as what the bank needed to bring to the table to basically buy back the property from the home owner.

Another explaination may be this is what is called a non-arms length transaction. For example if Mom and Dad want to sell thier condo to a son or daughter, there is no reason why they would have to sell at the current market rate.

Taking a look at the tax records usually is a good way to determine the type of sale.

Hope this helps!

Lisa Cartolano
0 votes Thank Flag Link Tue May 5, 2009
It's probably another error from Realty Trac. Many times they post homes for sale or sold with the wrong info that just teases buyers and their agents.

Cheers,

Dave Tap Tapper
Realtor
Cashin Company
http://www.DavidTapper.com
415-370-7195
Web Reference: http://www.TeamTapper.com
0 votes Thank Flag Link Mon May 4, 2009
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