Eastwood Court

$259,900
6115 Eastwood Court
Corporate Owned!
Sold/closed June '08

This bank-foreclosed large home is nearly 3000 sq.ft. of very attractive living space. There has been significant remodeling, including a very nice kitchen. All the rooms are very large, especially the master bedroom suite with its bank of south-facing windows. It is at the end of a cul-de-sac off Baxter north of Tudor, with easy access to the U-Med employment centers.

Why so inexpensive? Homes of this size in East Anchorage would typically fetch prices approaching $350,000, or even more.

Well, when the plumber was sent to the home to winterize it after the bank foreclosed he reported there could be extensive freeze-damage.

Also, there are some remodeling projects yet to be completed. The fireplace hearth in the family room downstairs, a bath and the laundry room all are incomplete at this time.

So the bank's decision has been to price the property as-is, without implying that at this price they will fix anything, or complete any remodeling projects. They do not plan to dewinterize the home prior to closing for fear of setting loose what could be many leaks that would have to be repaired. This means as buyer that you must assume the cost and risk that there could be a lot of work to do, as well as potentially enjoying a more happy event if maybe things aren't as bad as they could be.

Please download the information package which includes the plumber's invoice and description of what he found.

One should consult a lender concerning how best to finance a home that may have the deficiencies described above. The home as-is is not likely to meet FHA or VA minimum property standards. There is an office of a Wells Fargo joint venture in our Coldwell Banker Building. We would be happy to introduce you so you could explore loan programs with an originator who will have direct ties to the lending institution that owns the property.

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