Thinking of buying a duplex in San Francisco? One happy buyer's purchase closed yesterday and he'll be making a few changes and moving in soon.
Yesterday was the day the sale recorded at City Hall; title transferred then, and shortly thereafter I delivered the keys to the buyer, tied to the orange ribbon in the basket. Tucked carefully in tissue paper were two champagne flutes and a bottle of prosecco, along with a few snacks, a plant and a card.
This buyer's quest is over for now.
He was able to buy a duplex with the upstairs unit vacant, ready for his personal use. An existing tenant is in the downstairs unit; that rent will help make the mortgage payment.
The building, described accurately as a "2 unit Victorian Fixer" originally went on the market asking $988,000, a probate sale with court approval not required. The property was taken off the market for a period of time, and re-listed at $798,000.
This time, 7 offers were received and the property sold approximately 13% over asking. My buyer's offer was not the highest, I was told, but had the best terms and -- the listing agent had met the buyer and liked him! We structured an offer as clean as possible, with only a short financing contingency. The appraisal was waived (we were relieved when it came in at value!) as were any further property inspections (we were given in advance a general property inspection and termite inspection along with many other disclosures.)
There are many lessons to be learned here (be polite; be thorough; be courteous; communicate well; be focused.) One can succeed in purchasing San Francisco property for under $1,000,000 and enjoy living in a vibrant neighborhood.
Interested? Call me and let's explore your needs and desires.
Goo
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