469 Luray Place — Was the Property Purchased Fraudulently?

469 Luray Place, January 2012

The last time I showed the progress of 469 Luray Place was back on September 26, 2011. It’s clear that at this point — with DCRA ruling that everything is in order and that the project has been built by-right — that this blight is here to stay.

Sadly, a commenter on the September 26 post provides more background. The most important information they shared was this — they attempted to buy the house with the goal of fixing it up and living in it but were UNDER-BID by the developer with a cash deal.

Following is what the potential homeowner posted yesterday:

My wife and I LOVED this house and tried to purchase it but were beat out by “another owner occupant” who offered less money, but was an all cash buyer.

Here are the remarks from the MLS when the house was listed in 10/2010:

“Corner lot on a favored street in Columbia Heights., In need of total updating but check the price;this could be a beauty.0-7 seller will consider no contracts,7-12 seller will consider non-profit and owner occ.,13+ days seller will consider all contracts. Contracts must include financial info. sheet plus lender’s pre approval from Wells Fargo or affiliates, cash offers must include cash verificat”

Basically in the first 12 days only offers from owner occupants were to be considered. The house was under contract within 9 days and we were duped by a purchaser that committed fraud. I’m now looking into making things difficult for Olusola A Sulekoiki if I can. if anyone has any suggestions I would appreciate it. BTW I am a Realtor so I’m starting by reaching out to my Realtor resources.

Based on the information above, has anyone experienced a similar situation or have any advice?


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3 Comments on “469 Luray Place — Was the Property Purchased Fraudulently?”

  1. Lolly 716 Says:

    I really feel for the potential homeowner– we went through something similar but the end result was not nearly the eyesore this is. When the house on the corner of Warder & Princeton was for sale for $180K, we thought it might be the one for us, as we wanted a fixer upper.
    It took some effort to get in– we saw it at the same time as three other potential buyers and one of the other buyer’s agent said the selling agent had stood them up twice already. The selling agent (Jessie Banks) was not interested in showing the house at all.
    We put down an offer of $230K and never heard back. From public records we can see it sold for $233K, and it was flipped. Seems like a good selling agent would have encouraged some bidding, but the $233 was likely all cash and I guess it didn’t matter that we would have been owner occupants.
    We also saw some possibly shady connections between the selling agent and the owner. There was another property in the area that they appeared to have co-owned– something didn’t smell right but we’ll never know. Anyway, I said the end result was much better b/c we saw the house post-flip and it was better than most. If we’d lost out to a developer that blighted the community the way the house on Luray has, it would be so much harder to take.
    When I first saw the listing on Luray (after we’d already bought, but zillow addiction is hard to break!), I thought what a fantastic opportunity for someone like us, ready for some sweat equity. I hope the potential homeowner has found a place– speaking from experience, it takes enormous luck to beat out a developer.

  2. […] Now that 469 Luray Place, NW, is done and having open houses, I thought I would revisit this property and its implications for the neighborhood. Readers will recall that over a year ago the property sold for $251,990 — a price that was just too good to be true for a local developer. The original single family home part of the development is currently on the market for $567,720. Also interesting is a claim that the property may have been purchased fraudulently. […]

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