L.A. real estate news and insights.
Do you want to get top dollar for your property so you can purchase a bigger home?
Do you want to sell as fast as possible because you have a job transfer?
Do you want to sell in as-is condition because you don't want to deal with repairs?
Let's figure out what is important to you and build a selling strategy around your needs.-Call/text me 818-445-7953.
Let's have a 5 minute phone conversation to see if we are a good fit.
With my 72 Hour Home Selling Program, I guarantee your home sold in 72 hours or we're fired.-I can email you a 3 minute video showing you how my program works.
-Just send a quick message to Daniel@ContempoRealtors.com or text me at 818-445-7953.
Read your properties public remarks on Redfin, Trulia, Zillow, Etc.
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Proofread it and make sure everything that your agent is saying about your property is in fact correct.
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You will get sued if the remarks your agent put are wrong or misleading.
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And make sure the remarks don't say you are a "Motivated Seller".
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When I am representing a buyer and see those 2 words... I attack!
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I tell my client to put in an offer much lower than the asking price.
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I do this because I want to find out just how “motivated” the seller is.
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You can learn from this.
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If you want top dollar, don't give off the vibe that you are desperate to sell.
If you are desperate to sell your home, don't show it.
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The overall image you should be putting out to the public is that your property is awesome and potential buyers are lucky that you want to sell.
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Check your homes public remarks on Zillow, Trulia, Facebook etc.
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Make sure it doesn't say "Motivated Seller”. This is the kiss of death if you want top dollar. Tell your agent to take that phrase out immediately!
At my open houses I always ask "how did you hear about this home?"
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If the buyer is under 35 years old, they usually say "Youtube or Facebook".
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That means they saw the marketing video I made.
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And since 50% of all buyers are under the age of 35, you need to pay attention to this fact.
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If you want top dollar for your home, you MUST have a marketing video.
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Make sure your real estate agent provides this service BEFORE hiring them.
It's amazing to me that most agents don't use video to sell their listings.
-But it's even more amazing that home sellers are not demanding that video be part of the marketing strategy.
-My property marketing videos average 4,000 views on Facebook alone. If I did not have that video, 4,000 less people would be aware that the home I was selling was available.
-4,000!
-Make sure you are using this powerful tool to get top dollar for your property.
Almost always the original purchase contract says that the property is to be sold in as-is condition with no repairs done by the seller.
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However, after the buyer does their inspections, they usually try to change the original contract by asking for a repair or credit.
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Do you have to agree to their demands? NO.
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Your choices are to either accept, reject, or counter them.
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Keep in mind that if you flat out reject you could lose that buyer and have to start all over with a new buyer.
If you make the repair your buyer is requesting, it could lead to problems.
-The buyer could turn around and say "the repair you did was not good enough" or "the company you used to make the repair was terrible".
-Let's avoid all that.
-Instead of repairing the item they want, give them a credit.
-The credit can be in the form of crediting them money towards their closing costs or it can go towards lowering the purchase price of the home.
-What's nice is that instead of you making the repair and paying the full cost, you can now take the estimated repair cost and offer them a credit for 25% of what they want.
-For example, let's say they want a new AC system put in. The estimate came in at $10,000. Offer them a $2,500 credit instead of putting in the new AC system. They will probably counter at $7,500. Then you give them a best and final counter at $5,000.
-See what we did there?-Instead of you paying $10k and actually putting in the new AC system, you ended up only paying half.-Of course, you could refuse to give any credit at all. However, the buyer could walk away at that point. That decision would be up to you.
Disclose, Disclose, Disclose!
This is how you avoid a lawsuit 5 years from now.
Watch the full content on The #AskDanielLosAngeles Show on my Facebook page. facebook.com/daniellosangelesshow
Don't try to be sneaky or clever.
-The truth always comes out, and when it does, you will get sued.
-Let's avoid that shall we?
-Tell your buyer everything that is wrong with your property.
-You will fill out a bunch of questionnaires asking you, room by room, what is wrong with your property.-If the damages to your home scares off the buyer, then so be it.
-You will just have to find another one that can appreciate your home in the condition that it's in.
10 days is the perfect amount of time to let a buyer inspect your home.
-This gives them time to do a general inspection and call upon other inspectors (plumbers, electricians, etc) if necessary.
-Watch the full content on The #AskDanielLosAngeles Show on my Facebook page. Facebook.com/daniellosangelesshow
You want the buyer to remove their inspection contingency as fast as possible.
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Give them 10 days to do so.
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-If the buyer is going to back out of the deal because your home failed their inspection, you want them to back out as soon as possible. You don’t want to lose other potential buyers because they are dragging their feet!
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If the buyer wants more time, you may need to find another buyer.
If a buyer is submitting an offer on your home, you want to know if they can afford it right?
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Here is what the buyer will turn in to you when they submit an offer:
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-their purchase contract
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-their pre approval letter from their lender
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-their bank statement, AKA, their proof of funds
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The last 2 will show you if they can get a loan and if they have the cash for the down payment.
-You want to know if your buyer can afford to buy your home right?
-Have them submit their loan pre approval letter and their bank statement showing they have enough money in the bank for their down payment.
-This paperwork should be given to you upfront, as soon as they submit their offer to buy your home.
In this episode of The #AskDanielLosAngeles Show, I talk about:
-If a person puts an offer in on your house, how do you know they can afford it?
-Whether or not a buyer can inspect your home the entire time you are in escrow.
-Do you have to tell the buyer of your home every little thing that is wrong with the property?
-What does selling a home in as-is condition mean?
Happy New Year!
