[quote=Fletch]So then that January “transaction” is probably the appraised value when it went into foreclosure?[/quote]
Minimum bid at the foreclosure auction.
Unless the flipper was a real estate agent, he got something like 414K after commissions. He paid 370K, installed new appliances and new granite counters in the kitchen and three bathrooms, and had to pay 10-15K in interest and property taxes during 6 months of holding the place. I think he barely broke even.
