Severely fire-damaged home in Walnut Creek sells for $1M cash

Severely burned out home in Walnut Creek sold for $1M in cash

A severely fire-damaged house in Walnut Creek has been sold for $1M in cash.

WALNUT CREEEK, Calif. - A severely fire-damaged home in Walnut Creek has sold for a cool $1 million. Cash.

The selling price for 254 Tamarisk Drive went for $150,000 above the asking price of $850,000 and the offer was made in just three days, said Realtor Melinda Byrne.

"It's very exciting," she giggled on Thursday.

MORE: Burned out Walnut Creek home listed for $850,000

Realtor says opportunity to buy burned out Walnut Creek home is a great opportunity

Melinda Byrne, a realtor with Key Reality, discusses the opportunities available with a home she has listed for sale. The house suffered a fire and is being sold as-is. It is listed for $850,000.

An investor bought the more-than-fixer-upper and has already wired her the money. Byrne said that she expects him to renovate it and put it back on the market. He was one of eight potential buyers who wanted the place.

Byrne noted that it's a high dollar amount, but that the price is justified because of the property itself situated in a safe suburb with good schools and plenty of parks nearby. Despite the completely gutted rooms, the house also has a pool in back.

Because the house was damaged by fire, Byrne said that gives the buyer the opportunity to upgrade the insides of the house by installing environmentally friendly technology, moving walls around and adding and more insulation.

"It's just really a great opportunity," she said.