L.A. real estate news and insights.
If you’re selling your home, and you sign a listing contract with a real estate agent, be aware of the contract’s expiration date.
Memorize that date!
If your agent is not doing a good job selling your home, once that date passes, you are free to hire a new agent.
You will no longer be obligated to pay the old agent a penny in commission.
One way to raise your credit score is to fix any incorrect delinquencies you see on your credit report.
After you get a copy of your credit report in hand, scan the report for any mistakes.
You may see a certain bill that you paid off 5 years ago is still showing up on your credit report as delinquent and not paid off.
Call that company up and tell them that you already paid that bill 5 years ago and that you want them to report back to all 3 credit bureaus that the bill has been paid off in full.
Be prepared to provide them proof that you paid off that bill if they dispute they received payment.
Do that same procedure for every single incorrect delinquency that has been reported.
Yes, this is a huge pain, but once done you will see your credit score improve over time.
My client did this exact process and raised their credit score about 100 points in 6 months.
Best of all, it's free! But it takes time.
HGTV reached out to me... they are casting for a show where a buyer of a property is then planning on gifting that property to someone else.
If this sounds like something you are interested in being a part of, contact me and I’ll set you up with the casting director.
Once you accept the buyers offer, you better prepare to actually sell your property.
Chances are the buyer will perform by removing all of their contingencies and you will have to abide by the contract by selling your property.
Accepting a purchase contract for your property is not a game or a joke... the consequences are very real.
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?
In December 2018, I showed my clients this beautiful home. They fell in love with the property and I was able to facilitate the purchase for them at $1,075,000.
Just 8 months later, they unexpectedly had to put the home up for sale. We knew the market went up over the previous 8 months... but how much? We decided to list the home at $1,090,000. At our limited showing open house (2:00pm - 2:30pm), we had 25 buyers sign in. Each of those buyers brought a couple of friends/family members with them. We counted about 80 people that had lined up in the street outside the home. It looked like a block party!
In the end, we received 5 offers. After a fierce negotiating battle among the buyers, a wonderful family (my clients that I brought to tour the home), ended up winning the property. The selling price was $1,155,000. That's an $80,000 profit for the sellers in just 8 months!
Keep in mind, no remodeling had been done to the home over the 8 month period. My buyers said they saw my marketing video (OakmontWoods.com) and were intrigued by the back story I gave about the community. I am very happy all worked out for the sellers, and that I was able to bring another great family to the Oakmont Woods community.
Our family owned real estate business is growing and we are expanding our support team.
We are hiring a real estate agent assistant/project manager.
We are looking for someone who is ready to support our social media accounts (20K followers on Instagram - @DanielLosAngeles), manage our Customer Relationship Management systems, and help with a variety of projects that will generate client leads and grow the company even further.
If you are organized, knowledgeable about social media, and great with project management, contact us today!
Link below for job description and instructions on how to apply.
contemporealtors.squarespace.com/hiring
Thanks!
This is my 8th real estate transaction over at 4610 Densmore Ave.
The buyers insisted on using their lender to purchase the condo... big mistake!
The lender failed to come through with the loan.
Luckily, I always have a back up plan.
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!
I represented both the seller and buyer on this property!
The sellers are sad to see this property go, but they told me they are very happy with the outcome.
The buyers are thrilled to be moving into such a exclusive neighborhood.
I am happy both parties were able to successfully achieve their goal!
Quiet, upscale, and best of all... you can keep a horse in your backyard!
This home is located in one of the best areas in Burbank.
Because this property is a fixer-upper, it's great opportunity to get into this neighborhood at a major discount.
That's why this is my favorite home to come on to the Burbank market this week!
We are hiring a real estate agent assistant/project manager!
For more info visit https://contemporealtors.squarespace.com/hiring
Thanks!
The standard real estate purchase contract states that possession of a property from seller to buyer must be turned over by 6pm on the day escrow closes.
So even if you record, and close escrow at 8am in the morning, the seller is still allowed to remain at the property until 6pm.
Keep in mind a standard contract can be changed.
As long as the buyer and seller agree, the seller could stay in possession for days... months... years... the entire life of the seller... whatever is agreed upon.
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).
All of these events take place within 5 days of closing escrow on your property.
Since you know this will be a busy time, make sure you plan and request time off of work as soon as possible.
