This is how you avoid paying double commission:
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1) Ask your original agent to put in writing that the contract you two have is officially terminated. There is a one page form provided by the California Association of Realtors that can be used.
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2) Wait until the listing contract expires. The listing agreement says when the contract ends. Look for that date and wait until that time passes. Then you are free and clear to hire another agent after that date.
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If you do not do either one of these, you are still under contract with your original agent.
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That means when your new agent sells your home, you have to pay the new agent her commission, and the original agent his commission.
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Now you know how to avoid this common mistake.
What fees do I have to pay when selling my home?
Expect your seller closing costs to be 6%-7% of the sales price of the home.
Don't worry buyers, you have your own closing costs you need to stress out over 😐
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What's a counter offer when selling your home?
Don't like the terms of the offer you received on your home?
Send the buyer a counter offer!
You can Tell the buyer exactly what you need in order to make the deal happen.
Favorite Encino condo to sell this week
Original asking price: $474,995
Sold price: $475,000
I used to live at this complex many years ago... so it was a lot of fun helping out an old neighbor sell their unit 😄
Mortgage rates are now at a 7 year high
Home loan interest rates are only expected to go higher and higher.
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This factor, along with more housing inventory will, in my opinion, send us into a buyers market.
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Do you think a buyers market is coming?
Best remodeled home to sell this week in La Crescenta
Original asking price: $919,000
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Sold price: $875,000
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This #LaCrescenta property was sold BELOW the appraised value! 😝
Get your condo complex FHA approved before selling
Having your condo complex FHA approved will allow you to sell your unit to everyone... not just those with a 10% + down payment.
That's because FHA buyers can put as little as 3.5% down.
More competition creates a bidding war.
More money for you!
Why should we get pre-approved for a home loan first?
If you don't show me a pre-approval letter when submitting an offer on one of my listing, YOU WILL BE IGNORED.
Next step after receiving a verbal offer on your home
Don't waste your time on a verbal offer.
If they are serious, they will put it in writing.
Have you ever received a verbal offer on your home?
A verbal offer on your home is garbage
A verbal offer makes you feel good inside because it proves to you that someone out there loves your home.
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The truth is that a verbal offer means NOTHING... its garbage.
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If they really like the property, tell them to put it in writing. Once they do, NOW you have a series buyer.
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I can't tell you how much time in the early days of my career I spent with "buyers" and their verbal offers.
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Don't fall for it. Get it in writing.
Episode 17 of The #AskDanielLosAngeles Show
On this episode of The #AskDanielLosAngeles Show, I answer the following 4 real estate questions:
1) I got a verbal offer for my house. Whats the next step?
2) What does retrofitting a home mean?
3) We are going to start looking for houses. Whats the process in terms of pre approval? Should we get approved for the loan first or pick out a couple houses we like and then get the pre approval?
4) I want my condo available to buyers who need to get a FHA loan. How do I do that?
We have over 12,000 followers on Instagram... come join us! @DanielLosAngeles
I want to be your real estate agent. What do I have to do to make that happen?
Let me know at 818-445-7953. Thank you!
What do condo buyers typically look for?
When selling your condo, here are the 3 things(😅 🚗 👕)buyers are looking out for:
😅 Central AC/heat
🚗 Two private side by side parking spots
👕 In unit washer and dryer.
If you have all three, you may have a condo that will demand multiple offers.
Condo buyers demand move-in ready units
Condo buyers are very different than single family home buyers.
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Typically condo buyers want something they can move into right away. There are a couple of reasons for this...
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1) Condo buyers are usually younger and don't have enough money for a downpayment and renovations.
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2) Have you ever tried to remodel a condo? I have. It's a nightmare! Cutting up wood and granite countertops usually takes place outside. But when remodeling a condo, all of that has to be done inside the unit, leaving all the dust and dirt. At the end of the day, It looks like a bomb went off! Not to mention the crazy amount of noise the power machines give off in a confined space.
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I can't believe I ever did it!
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But even if your condo is not move in ready, there are 3 things that your unit might have that will still make it acceptable to buyers.
The cheapest home in Studio City, CA to sell this week
Would you inherit and throw away the sellers junk in order to get a good deal on a house? . Leave your thoughts in the comment section.