‘Worst house on the best block’: Unlivable San Francisco home sells for nearly $2M

A conservator had taken over the property on 320 Day St. Conservatorship sales go through a different process compared to traditional real estate sales, said Wiley, which included court confirmation and two rounds of bidding.

Todd and partner Kim Wiley, who have experience in trust and probate sales, originally expected that the home would close for around $1.6 million following the sale, which, in this case, went through a different process because a conservator had taken over the property. (Wiley said the conservatorship sale included court confirmation and two rounds of bidding.)

“The property should have been condemned,” Wiley said.

The conservatee, or the original homeowner, “had removed rooms downstairs. Anything that existed downstairs was completely torn out and had been that way for decades,” he said. This person also “physically removed chunks of the foundation and put in his own supports, it was structurally unsound.”

There were also concerns that the old, peeling paint was hazardous to the neighborhood, he added.

The first round of bidding got 11 offers, the highest being $1.5 million. But a final bidding war that attracted 38 potential buyers in court and ultimately “took it to a level that no one expected,” Wiley said.