Laguna Niguel Listing

C

Cameray_IHB

New member
What justifies the price increase? From the listing--

ONE STORY SIENA VILLA, GATED AND ONE OF A KIND RESORT STYLE COMMUNITY.IT IS A ONE STORY, HOWEVER SELLERS HAVE ADDED A HOME OFFICE FULLY PERMITTED WITH LOTS OF BUILD IN OFFICE FURNITURE UPSTAIRS. HOME IS IN VERY ORIGINAL CONDITION AND COULD BE A FABULOUS HOME WITH A LITTLE LOVE AND DECORATOR SPIRIT.THIS IS A SHORT SALE AND IS TENANT OCCUPIED AND IS SHOW WITH PROPER NOTICE BY APPOINTMENT ONLY.hOME IS SOLD AS IS PER SELLERS. Bank just finished BPO at $735,000. this must be the minimum price.

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http://www.redfin.com/CA/Laguna-Niguel/50-Pienza-92677/home/4921448
 
"BPO" is broker's price opinion. It's sort of like an appraisal conducted at the behest of the selling bank. Since an objective third party said it is worth $735K, the bank must sell for that or more.

I'm sure someone with actual expertise *paging IR2 or USC* will chime in here.
 
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