L.A. real estate news and insights.
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
If you don't put your home in a Trust, and you die, the home goes to Probate... in other words the state takes over your home instead of your family.
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You don't want that, right?
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A trust will cost you about $900 to set up, but will save your family thousands and thousands and thousands of dollars by avoiding the lawyers they would have to get when dealing with a probate.
Want to build a rental unit on your lot?
You can... if your lot is zoned correctly.
Check the zoning for any lot! Email me a address, and I will email you back the tax records for that property. Daniel@ContempoRealtors.com
A standard listing contract requires you to pay your listing agent a commission.... even if you find the buyer for your home before your agent does.
I personally don’t charge a fee if that happens... but most agents do.
When a buyer is considering putting an offer in on your home, the buyers agent will first check your home's public tax records.
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If they see the square footage on the tax records show your home is 2000 sq ft, but you know for a fact that its 2500 sq ft, this creates a problem.
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They will believe the tax records over you.
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Therefore, they offer they submit will be based off of 2000 sq ft. And that means less money for you.
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Lets avoid that!
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Get your records changed before you even put it on the market.
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I can set you up with an assessor who will come and fix your tax records... for free... just ask!
In episode 11 of The #AskDanielLosAngeles Show, I answer the following 4 real estate questions:
1. What are your thoughts on Zillows new business model? I heard you can sell your home directly to them now. Is that true?
2. A contractor put a lien on my home a few years back. We have since settled the dispute. How can I make sure that lien is no longer on the title of my property?
3. When I buy a home, do I have to pay my agent a commission or some kind of finders fee?
4. I have a 540 credit score. Can I still buy a home?
Please text any real estate questions you may have at 818-445-7953. And, for daily real estate tips, don't forget to follow us on Instagram @DanielLosAngeles. We have over 6,600 followers now!
My favorite Toluca Lake home to sell this week is the iconic #BobHope estate. Asking price $22 Million, sold for $15 Million.
Check out what curbed LA had to say about it...
Well, how about that—a sale has finally gone through on Bob and Dolores Hope’s former estate in Toluca Lake. Concluding a saga that began nearly six years ago, supermarket magnate Ron Burkle has acquired the 5.2-acre property for $15 million. This is the second Hope-related property in Burkle’s real estate portfolio: He picked up the couple’s John Lautner-designed Palm Springs residence for $13 million two years ago. The Burbank estate was first put on the market with an asking price of $27.5 million in 2013, and there it lingered, while sporadically getting price-chops. In 2017, Los Angeles City Councilman David Ryu introduced emergency legislation to have the property declared a historic-cultural monument after a buyer in escrow obtained a demolition permit for outlying buildings. Standing in firm opposition to this was Bob and Dolores’ daughter Linda Hope, who argued that historic designation would devalue the home and narrow the field of prospective buyers. Designation was denied after Ryu’s motion failed to get the ten votes necessary to pass. Burkle is reportedly planning to preserve and restore the main residence, which was originally built in 1939 by architect Robert Finkelhor and expanded into a 15,000 square foot home in the 1950s by Hollywood Regency architect John Elgin Woolf. The rambling property also includes indoor and outdoor pools, formal gardens, a guest house, a three-hole golf course, and a putting green. all proceeds from the sale will go to the Bob & Dolores Hope Foundation, in keeping with a stipulation in Dolores Hope’s will.
It does not matter what the housing market looks like in other parts of the country. Focus on your neighborhood only.
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If there are not that many homes for sale in your area, now might be a good time to get top dollar for your property.
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No competition means multiple offers for you!
If your home buyer is not releasing one of their contingencies, send them a notice to perform.
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The notice says that if they don't release their contingency then you will be forced to cancel escrow and find another buyer for the home.
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That will get their attention!
How much of a down payment do you think is standard?
20% down to purchase a home is considered average these days.
You are trying to sell the most expensive thing you own... your house!
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Make sure your real estate agent is doing everything he can to sell your home for top dollar, and make sure he is doing it correctly.
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My content is all about marketing tips and selling strategies that will get you the most money possible for your property. Study it so you know what truly goes in to Selling a property...
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So stop scrolling and check to make sure your agent is on point!
If the buyer has released all of their contingencies, and still wants to back out of the deal, you could go after their deposit money.
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At that point it would be considered damages.
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But you have to prove that some kind of damage was done to you.
This stat is from Realtor.com. Don't you think that's way too long?!?!
With your public tax records, I can see...
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-under what name you bought your home
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-how many loans are on your property
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-who your lenders are
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-how big your home/lot are
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-if you have stopped paying your mortgage
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-etc. etc. etc.
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Kinda scary huh? And everyone has access to this info... like I said, its public.
Let's have a 10 minute conversation so we can put together a selling strategy that best fits your needs.
Call/Text 818-445-7953 or Daniel@ContempoRealtors.com
Capitalize on the low housing inventory in Los Angeles!
