L.A. real estate news and insights.
If you want the buyer to know about specific upgrades you have done to the home, no problem, make a list.
Write down those upgrades and leave several copies of your document next to the front door.
That way the buyer can review as they take a tour of your home.
The buyer gets the list, you get to take a nice relaxing walk around your block during the showing, everyone wins!
The last thing the buyer wants is for you to be at the home when they are taking a tour.
It's awkward, uncomfortable, and the buyer cannot say out loud what they don't like about the property... they don't want to be rude and offend you.
It is best if you leave so that the buyer can relax and be themselves when doing the walkthrough.
Who wants to buy a home when they feel like they are being watched?
On this episode, I answer the following four real estate questions:
1) Do I have to leave when a buyer is touring my property or can I stay?
2) Are there any more bank owned properties?
3) I don't want to do any repairs to my home before selling. Can I sell it the way it is even though its not in the best shape?
4) Just got an offer on my house. When does escrow officially begin?
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This stat is down from a year ago.
Individual investors accounted for the largest portion of cash sales.
Source: National Association of REALTORS
Properties remained on the market for an average of 44 days in February, up from 37 days a year ago.
Source: National Association of REALTORS.
WARNING!
Only 1 showing for this condo located South of Ventura Boulevard in Encino.
Visit DensmoreCondo.com to find out the showing instructions, asking price, details for the offer deadline, and to watch the full video.
Asking price: $1,299,000.
This very unique home is available right now to purchase.
Can you imagine not having any neighbors?!
This property is perched up on its own hill.
Very unique and a great opportunity for the right investor.
Asking price: $29,500,000
Selling price: $23,000,000
80,000 square feet of flat land in Beverly Hills is very, VERY hard to come by!
Last sale in the building was for $519K... that sold unit was almost identical to this unit.
After some tough negotiations, I was able to win this unit for my clients for $491K. That's $28,000 less than the neighbor that just sold a couple of months ago!
The listing agent told me the seller was very motivated to sell... I was able to use that as leverage in the negotiations.
Listening is such a huge part when negotiating a real estate deal!
Original asking price: $585,000
Selling price: $575,000
This property was in such bad condition that the sellers were only taking cash offers.
No lender would lend on the property!
Would you buy a home from a #hoarder?
You should always give the buyer a disclosure stating that they should do their due diligence and investigate to make sure that your home has all the correct and necessary permits.
Your city's building division is where you will find your home's original permits.
Head on down there and ask for a copy of all your permits.
Keep in mind that older homes will have some bad looking permits... they are all old, smudged, and hard to read.
Unfortunately that is really the only paperwork you can go off of.
Keep in mind that if you have a fixer upper, and you are selling as-is, prepare to list the home with a fixer upper price tag.
That means you will not get top dollar for your home.
Top dollar goes to the properties that do not need a single repair and are beautifully remodeled.
A buyer can simply move in and not worry about a single thing.
If you don't want to repair a single thing in your home, don't worry, it's not a problem!
No need to call a #plumber, #electrician, #roofer,#sewerinspector, #termiteinspector, etc.
Put down that phone!
Now, if you are going to go down this route, you have to price your home accordingly.
Don't expect to get top dollar if your roof is leaking and your plumbing doesn't work.
All my loan officer friends are going to direct message me about this video.
They are going to tell me that they have special first time home buyer programs that are being offered and that I don't know anything about loans.
Here is what I do know: a buyer's offer better say that the loan they are utilizing to purchase the property is either a conventional or FHA loan.
The reason why is because most agents only understand those 2 types of loans.
So if the contract says any other type of loan, good luck getting it accepted.
Do you know how hard it is to convince a listing agent that your buyer using a VA loan will not have any trouble closing escrow?
It's almost impossible!
And VA loans are a very well known type of loan... it's just not used very often in #LosAngeles.
Imagine trying to use some other type of exotic loan that the agent has never heard of...
Oof... forget about it!
