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?

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Most expensive home to sell this week in Studio City

Original asking price: $4,750,000
Sold price: $4,250,000
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After being on the market for only 25 days, the owner of this #StudioCity home decided to accept a offer that was $500,000 below asking price.
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Do you think the owner was too quick to accept such a low offer... or should the owner have kept the home on the market a little longer in hopes of getting more money?
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Comment "accept" or "wait".

3 years' search for this Glendale home

The buyers of this #Glendale home had been searching for a property for 3 years.
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Their agent put in several offers on their behalf, but they could not get the job done.
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My past client and friend referred them over to me. The buyers came by my office in the morning for my "Buyer Orientation" meeting.
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This is where I take them through the entire purchase process, from beginning to end. 
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In the afternoon I showed them 3 properties. They fell in love with one and immediately decided to put in an offer. 
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After a little negotiating with the seller, my clients got the home for $1,075,000. The sellers original asking price was $1,250,000.
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3 years of searching with another agent... and in 1 day I found them their home.
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I hate to toot my own horn... but... TOOT TOOT!

Most expensive home to sell in Burbank this week

Original asking price: $2,399,000
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Sold price: $1,800,000
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Is a backyard important to you?
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This #Burbank home does not have much of a backyard and still demanded the million dollar price tag.
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If a small yard is a dealbreaker for you, comment below "dealbreaker".

The most expensive home to sell in LA this week

Original asking price: $19,995,000

Sold price: $16,825,000

This is the most expensive home to sell in the city of Los Angels this week.

Will real estate agents assist with finding rental properties?

Some agents will help you find a rental unit, but 95% will not.

Your credit score can be raised by fixing any errors your creditors have made on your credit report

5 STEPS TO A BETTER CREDIT SCORE
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Step 1) 🤓Order your credit report
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Step 2) 🤔Look for any mistakes a creditor has made. For example, does your credit report show that you still have a old outstanding bill with Nordstrom for $142? Do you remember paying off this bill and you have a receipt to prove it? Good!
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Step 3) 😫Call your creditor tell them you paid that bill and that you can send them proof.
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Step 4) 🤔Wait 6 months and order another report. Does this new report reflect all the corrections you made with your creditors? Good! You should also see your improved credit score. I have seen some peoples score go up 100 point just off of this tactic. 
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Step 5) 🤗Enjoy your higher credit score and send @DanielLosAngeles a delicious #keto friendly dessert.

You find the buyer for your home, we write up the contract and walk it through escrow for you. Pay just 1% commission.

Did you know you have to pay your real estate agent a full 6% commission fee to sell your home... even if you found the buyer yourself?
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We don't think that's very fair!
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Here is the deal... YOU find the buyer and there is no other agent involved. We write the contract and walk it through escrow for you. Our commission is 1%.
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Click the Flexible Commission Listing link above for full details.

Standard listing agreements force you to pay your real estate agent a full commission, even if you found the buyer yourself

That doesn't seem fair, does it?!
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After all, you did the hard work of finding the buyer yourself... why should your agent get paid the full commission?
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Unfortunately that is how standard listing agreements are written up. But your not gonna fall for that, right?
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I personally don't think it's fair either. That's why I have a Flexible Commission Listing.
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You find the buyer and want to pay a lower commission? No problem! I will write up the contract and take it through escrow for only 1%.
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Now that sounds fair right?!

How to check for liens against your property?

A lien usually comes from either unpaid taxes, a judgment made in court, or from unpaid bills.
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There are a number of liens creditors may place on your home.
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The most common are mechanic's liens, judgment liens, and tax liens.
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Mechanics lien: When general contractors, carpenters, plumbers, painters, or other type of repair companies work on your home, they may file a mechanics lien on the property as insurance to make sure they are paid.
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Judgment lien: If you have lost a court case and there was a judgment against you, the winning party of the lawsuit can file a judgment lien against your home until the payment is collected. This type of lien is also sometimes imposed by an attorney if you do not pay your bill for legal services.
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Tax lien: If you do not pay your federal, state, or county taxes, the government may file a tax lien on your home.
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A preliminary title report will show you all the liens that are against your property.

Check for liens on your home by getting a preliminary title report

Worried you may have some suspicious liens against your property?
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Ask a title company to get you a preliminary title report.
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Study the report and look for any weird liens that might pop up.
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Get these items cleared before putting your home on the market. If you don't, there will be major delays during escrow.

Is there a way to guarantee your home will pass inspection?

Can you guarantee your home inspection will go well?

No, but you can prepare for it by having an inspection done before you put your home on the market.

A low appraisal can prevent a buyer from purchasing your home

If your homes appraisal comes in low, you have 4 choices...
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1) Have the buyer come up with the difference in cash.
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2) Drop your purchase price to match the appraised value.
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3) meet the buyer somewhere in the middle... you drop your price, they come up with a little cash.
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4) cancel escrow and find a new buyer.
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The good news with option 4 is that a brand new appraiser will appraise your property. Hopefully they will appraise your home for the agreed upon purchase price. 🙏🏻🙏🏻🙏🏻

Top 2 sold properties in Burbank above Glenoaks Blvd.

Here are my top 2 properties that recently sold in Burbank above Glenoaks Blvd.

The sheriff could physically remove you from home if you stop paying your mortgage

Haven't paid your mortgage for a while? Are you getting foreclosed on?
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The sheriff could come and throw you out of the house.
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At that point your lender owns the home, not you.
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Oh, and those sheriffs are almost as big as this #Trex!