Torrance, CA

Our clients were behind $78k on their mortgage (5 days until sale date at foreclosure auction). They were getting offers from $600k – $700k – primarily from investors low-balling them. Advant Wealth came in and brought delinquencies current and agreed to put in up to an additional $50,000 for rehab costs in exchange for equity in the property. Before rehabbing it, however, our realtor put the property back on the market and because the house was being sold as an equity sale instead of a distressed sale, we were able to sell it for $921,000. Part of the reason for the huge spread was that when investors were running their comps, they were comparing the property to neighboring houses. This property was one of the larger ones in the neighborhood and was custom built, resulting in the spike in price once it was put on the market and proper appraised.

Property Details

Torrance, CA 90505

Foreclosure With Equity Sale

Selling Price: $921,000
Bedrooms: 4
Bathrooms: 3
Sq ft: 2508
LTV: 56%
ROI: 38.5%