An Unusual Listing for Sale of Home?
"A beautiful three-bedroom home in a sought-after San Francisco neighborhood has hit the market at $488,000."
Median sale px in neighborhood $1.5 mil.
There is a CATCH: Buyer cannot live in or use the property until after the current occupier '"either dies, vacates or the lease ends.'"
More from article:
"... until 2053, and they won't be receiving much rental income in the meantime.
"The home is currently occupied by a protected tenant who pays just $416.67 in rent a month and has 'possible occupancy rights until 2053'."
A R/E agent said "... the property could be used as a 'land bank' by buyers who wouldn't need to sell or use the property until after the current occupier 'either dies, vacates or the lease ends.'"
Hmmm, could be a looong wait for new owner to enjoy the property.
Unless, say,
problems develop w plumbing, furnace, air cond, leaky roof, etc.
Will owner be quick to arrange for professional repairs & replacements? Or let problems slide until tenant cannot stand another minute of it, ETA: and vacates thenpremises?
Seriously, I hope buyer & tenant can make the arrangement work.
A beautiful three-bedroom fully-detached, Edwardian-style single family home at 30 North View Court in San Francisco's popular Russian Hill neighborhood has gone up for sale at just $488,000.
www.dailymail.co.uk