Seattle Home That's Too Hazardous to Tour Sells in Bidding War
January 28, 2020
A three-bedroom home on the outskirts of Seattle considered too dangerous to tour needs at least $100,000 in repairs, yet that is likely much higher. It has water damage and is covered in trash left by the owner. “A whole lot of potential awaits,” the listing promised in its marketing.
Only one picture was included on the MLS of the $330,000 home, which is in the process of foreclosure.
But it launched a homebuying frenzy, fetching 17 offers in just 5 days—even though buyers couldn’t get in to see the inside.
There is a limited inventory of homes priced below $400,000 in the area. Still, “I wouldn’t have anticipated this number of offers on this home at this time of year,” Compass listing agent Sam Forselius told The Seattle Times.
Forselius is not disclosing the final sales price for the home yet since the sale is still pending. But one agent told The Seattle Times that her client made an unsuccessful offer on the home. Despite offering $10,000 over ask price, her client’s offer ranked eighth out of 17.
“Straight out of the gate the first week of January, it was like someone opened the faucet and everyone started buying,” Nelya Calev, a real estate pro for John L. Scott, told The Seattle Times. She wrote seven offers last week alone. “I think sellers are in for an exciting ride,” she added.
The offers on the Seattle home were reportedly almost entirely from investors and home flippers. Other homes in the same ZIP code are selling for a median of $620,700.
“Trash-Filled Bothell Home, Too Hazardous to Tour, Attracts 17 Offers and Fetches High Price,” The Seattle Times (Jan. 24, 2020)
Updated: February 21, 2020