3

$412,000 Over Asking!

louvivas Newsletter , Real Estate Leave a Comment

After 19 offers and only eight days on market, the three-bedroom two-bath home at 701 East Capitol Street Southeast sold for a whopping $412,000 over the list price with an all cash offer. It hit the market at $1,089,000 with the understanding that a buyer would likely have to put about half a million dollars into the home in order to fully update it.

DC9666591

Set on a corner lot, the home features original pine floors, leaded windows, a garage with a driveway parking space, and a full (unfinished) basement. However, all of the major systems in the home will need to be replaced as well as the basement finished and garage repaired.

DC9666591

DC9666591

DC9666591

The home closed at $1,501,000 despite not being the highest offer. One offer escalated to $1.6 million but included a financing contingency. The owners decided not to take the chance that the home might not appraise for that price and took the cash.

About the Author

louvivas

Have a question not answered here? Ask us!

Your email address will not be published. Required fields are marked *