A real estate agent who bought a $700,000 home in Dallas for $7 million in 2013 said the property is in excellent condition, but he did not know the value of the house until last month when the sale price hit $12.5 million.
John Vogl, owner of The Real Estate Specialist Agency, said the house was in good condition, and there was a lot of work that went into getting it done.
Vogl said he was shocked when he saw the $7.5-million sale price.
The house was built in 1962, and it was built for his father, who is a real estate broker.
Vogg said he and his father bought the home in June of 2013 and were surprised to see the price go up from $7,500,000 to $7-plus million.
The $7M price tag was just a surprise to me.
It was a big shock.
It’s a great home.
I didn’t even know that was possible.
I didn’t know it was possible, and now I’ve seen it.
He said the only way to pay off the debt was to buy the house.
Vollo said he doesn’t know what the sale value is, but that he paid off about $800,000 in mortgage debt, including the $500,0000 that he borrowed from the bank to pay for the $700K home.
Volk is a licensed real estate professional and has sold more than 600 homes in the U.S. since 2007.
He has helped hundreds of people with their real estate deals.