It’s Thanksgiving Weekend, and we’re scouring the MLS, looking for the best DEALS out there. You can even find DEALS in hard-to-buy-in San Francisco. How about a HOUSE for the same price as the cheapest house in San Mateo County?
Can do! Just remember that we’re in San Francisco, so their definition of “house” is a little different than what we’re used in the ‘burbs.
SQ. FT.: 1,090
$/SQ. FT.: $91
LOT SIZE: -
PROPERTY TYPE: Single-Family Home
YEAR BUILT: 1900
COUNTY: San Francisco
SOURCE: San Francisco MLS
REDFIN: 131 days
Probate Sale with limited authority requiring court confirmation. The subject property is in major disrepair and listing agent has been told that access can’t be provided, and that it may not be safe to enter the property. (no showings) There may be roof damage and fire damage, etc. It is highly possible that the highest and best use is as a tear down for lot value. Ratified @ $95,000 w/ No Contingencies, All Cash, 10 day close, buyer to pay transfer tax, title, escrow, and buyer to take responsibility for all point of sale compliances, As Is. Court Date for Overbid Feb 6th, 9am @ 400 McAllister SF. Must have Cashier’s Check at court. Disclosure package available and overbids will be on same terms, no contigencies!
The listing says “no contigencies,” yet the status is Contingent. Maybe this house was a Zen Buddhist retreat and you’ll have to listen to the sound of one hand clapping. Or the sound of one “n” present.
So what does Contingent Status mean in a listing?
This means the sellers have accepted on an offer on the property, but success may still depend on passing a home inspection or the buyer’s financing approval. It may still be possible to tour these properties and submit a backup offer in case the current one falls through.
Lot value only? Note the lot size above; nothing could be bigger. The public records say the lot size is a whopping 1642 square feet. Plenty of room to build a rental apartment in the back!