Guest Post: Walking Away from Azul

Here’s a first hand account of someone looking at buying at Azul in Fremont and walking away. If you have a first hand account touring or making an offer just drop me a line at [email protected].
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I’ve been using your blog while looking at condos, and wanted to share some “buyer beware” news about Azul in Fremont. Two units left there at this point and on the surface, they look like great deals. $195K for a cute one-bedroom with balcony, lots of nice details.

I was preparing an offer w/ Redfin until the agent found out a few things — There is not a cap on # of rental units in the building. And there’s a foreclosure situation w/ the builder (that I first learned about on your blog -thank you!), so a third party is currently liquidating the properties and handing over titles directly to the owners.

In addition, #406 went thru two inspections w/ no deal. The listing agent, described as evasive, said one buyer used the inspection to cancel the deal and the other was a failed inspection. But the listing agent would not provide any details, saying he didn’t have the report.

Thought this might be helpful for you and your readers. I’m sure there are still good deals to be had out there. It’s back to the drawing board for me.