Do you think interest rates will continue to go down?
Have you heard? Historically low interest rates are happening now!
Episode 37 of The #AskDanielLosAngeles Show
On this episode, I answer the following four real estate questions:
1) My low ball offer was flat out rejected by the home seller. Can I still submit a new offer?
2) Are real estate taxes included with my monthly mortgage payment?
3) What is the difference between a list price and sale price?
4) The buyer for my home is not removing their inspection contingency. Can I cancel the deal?
We have over 20,000 followers on Instagram... come join us!
Most expensive home to sell this week in LA
Original List Price: $22,500,000
Sold Price: $13,000,000
Breaking News! As of today, you can now rent this home for $42,000 a month.
Escrow on a home purchase is usually 30 days.
When you accept a purchase offer for your home, escrow begins.
The escrow period is the time from offer acceptance to the day the title of your home officially changes from you to the new buyer.
During that time period the buyer of your property is doing their inspections and getting the loan to buy the home.
A buyer using a conventional loan (5% or more for the down payment) will usually close in 30 days.
However, a cash buyer doesn't have to go through the loan process, so they usually close in 7 - 14 days.
Buyers using a FHA loan usually close in 45 days.
Virtual staging will attract buyers to the home.
Virtual staging is when you take a picture of a vacant room and then have a graphic designer digitally add furniture to that room.
That way your online pictures for your home look great, but in reality the room is vacant.
Virtual staging can be good and bad. It's good because your marketing pictures look awesome and you will get a lot of people through your door and touring your home.
The bad part is that buyers get disappointed when they show up and the house looks completely different than how it looked in the marketing photos.
Real furniture staging is always best because it helps a buyer emotionally connect with a home and you don't end up with a bunch of disappointed potential buyers touring your home.
But if you must, virtual staging is a better option than showing a picture of a empty room in your marketing pictures.
Home title recordings occur between 8am - 6pm.
You still own your home up until the second that the county recorder's office officially records the title transfer of your home to the buyer of your property.
In other words, the ownership of the property has officially transferred from you, the owner of the home, to the new owner, the buyer of your home.
On the day you are scheduled to close escrow, recording can take place any time from 8am-6pm.
Until you get that phone call confirming recording, you are still the owner of that home and are responsible for anything that takes place at that property.
4 major events occur within 5 days of selling your home.
1) The buyer has to do a final walkthrough of your home. This is to make sure the home is in the same condition that it was in when they initially put in a offer.
2) Buyer signs their loan docs. This means they are officially signing up for a mortgage.
3) The lender will fund the loan the next day. Funding the loan means the lender wires over the money the buyer is borrowing to the escrow company.
4) They day after that, the recording takes place. That means title has officially changed hands and you no longer own the home... it's officially sold!
Episode 28 of The #AskDanielLosAngeles Show
On this episode, I answer the following four real estate questions:
1) Do you think home prices have gone up in value so far in 2019?
2) What should I expect to happen as I get closer to closing escrow on our home?
3) We are in the middle of buying a house right now. When does the title get transferred over to us and we officially become the owners of the home?
4) Once we close escrow, when do we turn over possession of my home to the buyer?
We have over 20,000 followers on Instagram... join us!
Favorite home to sell this week in Los Angeles
As featured on "House Hunters Renovation"...
3 years ago my clients along with HGTV came in and completely remodeled the home.
There were a few repairs that needed to be done, but overall the buyers of this property now have a wonderful place to call home.
See the episode on my website - HouseHuntersRenovation.com
I have pocket listings
Text me what you are looking for and I'll let you know what off-market properties I have that match your search criteria.
818-445-7953
Daniel, what's the best deal in La Canada?
Asking price: $1,555,000.
Imagine what you could add on to this 17,000 square foot lot...
Episode 18 of The #AskDanielLosAngeles Show
On this episode, I answer the following 4 real estate questions:
1) What is a Seller Property Questionnaire?
2) How come Justin Timberlake can't sell his condo?
3) Do smoke detectors need to be hard wired in or is battery operated good enough?
4) What's a counter offer?
We have over 13,500 followers on Instagram... come join us! @DanielLosAngeles
Best new construction in Toluca Lake, CA to sell this week
Would you rather live in a brand new modern home or something decades old with some original charm?
Let me know in the comments below.
Toluca Lake is old money... so it's nice to see some new construction in the area every once in a while.
We have lots of showings, but no offers. Why?
It's been 2 weeks. You have had a ton of showings, but no offers.... what's going on? . The good news is that your marketing is working. Buyers are walking in your front door (lets not minimize how difficult this task is). . The bad news is that by not putting in a offer, the buyers are telling you non verbally that your asking price is to high. . In other words, whatever you are offering is not worth your asking price, so they simply pass on it. . If you are in this situation, it's time to reevaluate your pricing strategy.
What is the significance of a "pre-approval" letter?
The buyer doesn't want to submit a pre approval letter? Forget it! Find another buyer.