I was introduced to a seller from San Francisco via a long term Sonora attorney who was handling a law suit among family members.
The property just over .25 of an acre and vintage structures were bought by the San Francisco resident has he had a dream of restoring and having a country home.
He purchased the property for $50,000 cash from the family estate.
The property had two wells, one that was hand dug and the other was missing a pump.
There was a pre-existing septic system that was the original system or as some would say no system at all.
As time passed the San Francisco resident dreams of a country home faded and he decided to place the property up For Sale.
We listed the property and two homes on September 25th 2007 for $99,900.
We have shown the property to dozens and dozens and the majority of prospective buyers wanted to take the historic buildings down with a dozer.
The buildings were on the Historical Landmarks inventory for Tuolumne County.
Dozens and dozens of the 20 mile round trip were spent showing the property, fielding hundreds of calls about 2 homes for $99,900. Most prospective buyers, investors just laughed and told us what a joke and "Good Luck".
Months and months passed and one day we received a call that a couple were interested in a restoration project, we soon entered escrow and we were going to close in 30 day's at a price close to the listing price.
We soon discovered that it was impossible to place a septic system on that parcel. We spent another six months meeting with county officials, adjoining land owners. In the end it was impossible. The broker took a commission advance and was to have paid back $3,200.
Most buyers would not buy a property, with full knowledge that its impossible to place a septic system and there is no public water or sewer.
The seller took a loss, the Broker will receive a $1,600 fee and now owes $4,200 to the commission advance company time & interest and the buyers will buy two old vintage homes.
My tank is 3/4 empty, I have some explaining to do with the commission advance company and the smile on my face, is the buyers are happy and I have a new San Francisco seller who is now a friend.
The same attorney who referred this account to me has referred a probate estate to me and I meet the representative tomorrow.
Affter 279 days tomorrow will be a new day in our job to market real estate representing Sellers & Buyers.
ps. The other property estate property is still For Sale. We have Septic Problems.
Jim W Hildreth RE/Max of Sonora