Bellevue
Loan Amount $225,000

An investor tracking foreclosing properties at www.usa-foreclosure.com did an internet search in need for an auction loan and found Liberty Capital.  He was interested in a specific Washington Square unit in downtown Bellevue built in 2008 located on the 15^th floor.  The unit had a scheduled auction date at the Bellevue, King County Trustee foreclosure auction.  Liberty Capital was able to immediately qualify the borrower, value the property and check Title.  A Liberty Capital representative went to the auction to bid for the buyer and successfully acquired the property at auction for only $1 over the opening bid price of $276k.  The condo was purchased for about 17% off retail value ($335k) and the loan was paid off two weeks later once the investor had settled selling stock and paid the loan off in cash.

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