More than $400K as they had to landscape, paint, window treatments etc. Could have lost as much as $500K on that one.
Auction was scheduled as quickly as possible after the notice of default was filed (90 days). The default amount was $956K so they probably wrote a nice check at closing also. Although maybe the buyer wrote that check but kept it separate from purchase price to keep taxes lower.
Edit: Correction. Upon examining the listing history it was a short sale that got approved quickly because it wasnt short much. The lender only had to cover selling costs and probably jumped at it because the seller took the lions share of the loss. Seller didnt care whther it was 950 or 1M as they werent getting any of it any way. Seller was also a mortgage broker whose company went down the tubes.
