The biggest problem with this home is that it's located on one of the busiest streets in Burbank.
•2 bed, 1 bath
•973 sq. ft.
•Lot: 5,394
Want a private tour? Text me at 818-445-7953.
If you are a potential home seller, now is the time to strike!
Since this past Spring selling season was essentially canceled due to Covid-19, the built-up buyer demand is reaching its peak right now.
If a home is reasonably priced, it is getting multiple offers, leaving many buyers frustrated and many sellers cashing in.
If you are a potential home seller, now is the time to strike.
How long does a listing agreement last?
As long as you and the listing agent agree on the given amount of time, your listing agreement can be however long you want it to be.
It's hard to cancel escrow as the home seller
As a home seller, your options are very limited to cancel escrow with the buyer of your home.
You can't just wake up one day during escrow and decide you no longer want to sell your property.
You signed a contract to sell your property to the buyer, and you have to abide by that contract.
Sellers are able to cancel escrow if the buyer doesn't perform.
For example, if the buyer inspection contingency is over and they still have not removed that contingency in writing, you can then send the buyer a notice to perform.
That means the buyer has 3 days to remove the contingency or back out of the deal.
If 3 days pass and they still don't remove the contingency, then you can send the buyer an escrow cancelation form.
You have to wait on the buyer to not perform to be able to cancel escrow, you can't cancel because you changed your mind about selling.
How long is the escrow period?
Buyers using cash to purchase a home typically close escrow in 7-14 days.
Buyers using a conventional loan to purchase a property (at least 5% down payment) typically close in 30 days.
Buyers using FHA loan to purchase a home (3.5% down payment) typically close escrow in 45 days.
74% of home purchase contracts contain contingencies.
The 2019 Realtor Confidence Index Survey says 74% of home purchasing contracts contain contingencies, with the most common ones pertaining to home inspections, getting a acceptable appraisal, and obtaining a loan.
That means 26% of buyer home purchasing contracts do not contain any contingencies at all.
Sellers LOVE non-contingent offers.
That means that if the buyer backs out of the deal, for whatever reason, the buyer could lose their deposit to the seller (usually 3% of the purchase price).
Wouldn't you find a non-contingent offer appealing if you were selling your home?
Pending home sales are up 8%
California saw a 3.1% uptick in pending home sales in August, an increase of 8% from a year ago.
Economists say home sales are forecasted to rise in the coming months and into 2020.
I think their prediction will be correct!
What is a "recording"?
You officially become the owner of the home once recording takes place.
Recording, AKA having the title of the property put in the new buyer's name, can happen any time between 8am-6pm.
You are not allowed to have the keys to the property before recording has taken place (unless the owner has given permission).
