328 Second Street Grass Valley, was listed for $235,000, Seller Dropped the Price to $200,000!

6/21/17 A potpourri of problems for this GV fixer. Structural, cosmetic, and title issues all combine to make this one a toxic mix of problems for even a seasoned investor. Listed for $235,000, if it was just the repairs and structural issues this home would have already been sold. The repairs can be managed, and the home would be a good rental if it was fixer up. But the title issues are sticky. The lot was accidentally created in such a way that there are two other property owners who own strips of land between the parking area and garage and the public street. None of the surrounding neighbors have volunteered to offer the easement and only negotiation and potential litigation will get the property a deeded right for ingress and egress. There is no way of knowing how this will be resolved and that uncertainty is unpalatable to investors and completely rules out any one with conventional financing.
7/2/17 So, have already discussed the fact the homes lacks a deeded access and the seller lives out of area and does not have the ability to pursue the necessary legal steps involved in securing ingress and egress. I spoke to him yesterday and now he is desperate to sell. He is looking for a cash buyer with a short close who can take the reins and negotiate with neighbors and the city to find the solution. It is obvious no city lot can stay landlocked forever! But the time and potential cost involved in finding resolution are unknown. My advice is that a buyer/investor should seek legal counsel before making an offer. Give me a call and we can discuss it:
530 263-0644

Author: gordon

Nevada County Resident since 1988. Painting and Decorating Contractor 1985-2003 Nevada County Realtor Since 2004 Member of the Nevada County Masters Club (top producing agent) Every Year Since 2004

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