If you’ve dreamed of living in the Burlingame hills this weekend might be your chance. A seller there, who has had his home on the market on and off since June of 2006 where it was originally listed at $2,498,000 is going to auction his home off to the highest bidder on Sunday evening, November 16th. The minimum bid must be $1,595,000. There are no catches here but you must sign in during one of two viewings on Saturday afternoon and Sunday afternoon.
If you are pre-approved to purchase a home in this price range, this 4 bedroom, 3 1/2 bath 20 year old home might be the greatest bargain in Burlingame right now. The home is 2555 square feet and sits on a 11,495 foot lot on Summit Drive. Cyberhomes says the house has an estimated worth $1,730,938, a decrease of $17,978 just this past month!
Is this enticing to you? It’s an interesting approach to selling a property and the owner is willing to carry the paper on the house. Not a bad deal if you are well qualified. Want more info? Call 800-421-2680 x111. Remember, you must have gone to see it in person either on Saturday or Sunday afternoon and then you can bid. This auction is a for sale by owner, but it’s being done a little differently.
Should you win this auction, be sure to receive full disclosures from the seller the not only covers the ususal requirements for the State of California but also for the City of Burlingame. Don’t expect the seller to assist you with this. Don’t expect the title company to do it either. It will be your responsibility to make sure you have all necessary documents to protect yourself.