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August 24, 2017

Just Sold: Miraloma Park Fixer


The “contractor special” fixer market is a busy one in San Francisco. There are a dozen or more buyers looking for projects at any given time, many with all cash.

My listing at 33 Teresita had substantial deferred maintenance and mold issues, and we needed a cash buyer because the seller wasn’t in a position to remediate mold or satisfy other potential lender demands. We decided to get the word out among agents who frequently represent developers and contractors, and had one open house on a Wednesday at 3:00. I was in receipt of six cash offers by the next morning, met with my seller midday, and we had an accepted offer with a back-up in place.

We closed today for $1,150,000, only one week later. Special thanks to buyer agent extraordinaire Jeff Sie at Zephyr Real Estate, as well as Chris Matthews at Old Republic for settling our escrow. I’ll be looking forward to seeing the renovated 33 Teresita in the future.

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