Buyer Tour
PREPARED FOR
Westwood Homes Open House February 15th, 2015 FEBRUARY 14, 2015
INFO
The Homebuying Process Follow These Steps Get prequalified - Your lender will look at your income, credit scores, revolving debts, obligations such as child support as well as the type of loan you choose. Other factors that impact how much home you can buy is the down payment; smaller down payments mean higher monthly payments. Last, the interest rate and terms (30-year, fixed or adjustable rate) will determine what you can afford in monthly payments. Make your wish list - Decide where you want to live and how many bedrooms and baths you’ll need. Consider lifestyle - condominiums offer shared amenities, with little responsibility. Single-family homes offer more space and privacy, but much more exterior and yard maintenance. Hire a real estate professional - Your real estate professional should be expert in the area where you want to live and familiar with the type of home you want to buy. Your agent has house-by-house experience in your neighborhood and can offer the best advice on homes in your range. Select your home - No home is perfect, so don’t let minor flaws influence you. Think long-term. Which home best suits the activities and needs of your household now and in the years ahead? Don’t buy more than you need or can comfortably afford. Make an offer - Your offer depends on the current market. If a home has been on the market a long time, you can ask the seller for a price reduction, but if it’s new on the market, the seller is unlikely to accept a low offer. Ask your real estate professional for advice. Get an inspection - A home inspection is a professional third-party opinion of the home’s condition. The inspector will point out the age of systems, and large and small repairs that are needed, so you’ll know what you’re facing as the next owner. Get an appraisal - The bank appraisal determines market value. If the home doesn’t appraise for the purchase price, the bank will refuse to make the loan unless you renegotiate with the seller. If it appraises, the lender will move toward closing. Go to closing - Once final negotiations are complete, the parties to the transaction meet at the escrow office. This could be a title company, real estate attorney, or whatever is customary in your area. All paperwork is signed by both parties. The lender pays the seller, minus any liens against the home such as the seller’s mortgage. Once all the disbursements have been made, you get the keys to your new home, according to your agreement. Congratulations! You’re ready to move into your new home
LISTING
Map of All Listings
MLS #
Status
Address
1
14-805557
A
1302 Manning AVE, Los Angeles
$4,750,000
2
14-798521
A
215 DENSLOW AVE, Los Angeles
$3,995,000
3
14-815417
A
463 S BENTLEY AVE, Los Angeles
$2,199,000
4
14-790747
A
11231 HOMEDALE ST, Los Angeles
$2,179,000
5
15-878339
A
10328 WILKINS AVE, Los Angeles
$1,549,000
Status: A = Active
Price
MLS #14-8055
Property Details 1302 Manning AVE, Los Angeles
$4,750,000
LISTING INFORMATION
Courtesy of Coldwell Banker Residential Brokerage
MLS#: 14-805557
Beds: 5
Sq Ft: 5,400
List Date: 10/31/14
Status: Active
Baths: 5/1
Year Built: 2014
DOM: 106
FEATURES Kitchen: Counter Top Floors: Marble, Mixed, Wood Stories: 2 Cooling: Central Heating: Central View: Other Zoning: LAR1 Pool: Heated Lotsize: 10016 REMARKS Exquisite Mediterranean Villa, on a corner lot in prime Westwood, natural sunlight, custom made luxury design, high quality, rich detail & elegance.5 BR, 5.5 baths +guest house, entirely custom made featuring high ceilings and large windows throughout, French doors opening to the beautiful back yard. Captivating entry, custom dome, beautiful curved stairwell-intricate wrought iron railings. Formal living room,fireplace. Family room with marble wooden inlay floors, fireplace. Dining room w large windows, gourmet kitchen, center-island, high-end appliances & large pantry. Bright rotunda breakfast area with backyard view. Main level private office. Upper level features luxurious master dome suite, expansive balcony,fireplace, walk-in closet, round Jacuzzi, three en suite BR's, all with private balconies. Gorgeous backyard great for entertainment, large patio, BBQ, fire pit, salt water po...
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-8055
Buyer Comments
1302 Manning AVE, Los Angeles
$4,750,000
LISTING INFORMATION
Courtesy of Coldwell Banker Residential Brokerage
MLS#: 14-805557
Beds: 5
Sq Ft: 5,400
List Date: 10/31/14
Status: Active
Baths: 5/1
Year Built: 2014
DOM: 106
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-8055
Listing Photos 1302 Manning AVE, Los Angeles
$4,750,000
MLS #14-8055
More Listing Photos 1302 Manning AVE, Los Angeles
$4,750,000
COMMU
Area Restaurants 1302 Manning AVE, Los Angeles Name
$4,750,000 Type
Distance
Tanzy
Italian
0.35 mi
P'tit Soleil
Tapas/Small Plates, French, Bars
0.44 mi
Attari Sandwich Shop
Sandwiches, Persian/Iranian
0.45 mi
Pomodoro Trattoria
Italian
0.46 mi
Panini Cafe
Italian, Mediterranean
0.46 mi
Palomino
American (New), Mediterranean
0.46 mi
Cafe Glace
Persian/Iranian, Cafes, Pizza
0.46 mi
Fundamental LA
American (New)
0.47 mi
Mary & Robb's Westwood Cafe
American (Traditional), Breakfast & Brunch
0.47 mi
Naab Cafe
Persian/Iranian, Halal, Hookah Bars
0.47 mi
Bru's Counter
Salad, Sandwiches
0.53 mi
800 Degrees Neapolitan Pizzeria
Pizza, Italian
0.53 mi
Ike's Place
Sandwiches
0.56 mi
Mesa Brazilian Eatery
Brazilian
0.58 mi
Sunnin Lebanese Cafe
Middle Eastern
0.58 mi
TLT Food
American (New)
0.59 mi
Rating 90 reviews 84 reviews 333 reviews 527 reviews 266 reviews 969 reviews 128 reviews 592 reviews 137 reviews 163 reviews 95 reviews 1641 reviews 197 reviews 89 reviews 750 reviews 571 reviews
MLS #14-7985
Property Details 215 DENSLOW AVE, Los Angeles
$3,995,000
LISTING INFORMATION
Courtesy of Coldwell Banker Residential Brokerage
MLS#: 14-798521
Beds: 5
Sq Ft: 5,091
List Date: 10/1/14
Status: Active
Baths: 5/0/0/1
Year Built: 1941
DOM: 94
FEATURES Interior: Basement, Built-Ins, Crown Moldings, Dry Bar, Phone System, Storage Space, Turnkey Kitchen: Gourmet Kitchen, Granite Counters, Island, Open to Family Room Floors: Carpet, Tile, Wood Stories: 2 Cooling: Air Conditioning, Central, Multi/Zone Heating: Central View: None Zoning: LAR1 Pool: Heated Patio: Balcony, Patio Open Lot description: Fenced Yard Number of units: 1 Lotsize: 9020 REMARKS This charming and beautiful Cape Cod sits behind gates and is a fabulous family home w/great flow & enormous public rooms. Rebuilt in 2007 and upgraded since. Spacious master with his & hers walk-ins and a balcony overlooking the backyard. Two additional bedrooms & baths up along w/office & bonus room now used as a playroom. The main floor consists of a spacious LR, large DR, & FR adjacent to an open cook's kitchen with Viking appliances. A private guest suite has access to the backyard and pool. The versatile lower level w/bath is currently used as a gym. Loads of storage & closets are a shopaholic's dream. Furniture can be included in the purchase price.
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-7985
Buyer Comments
215 DENSLOW AVE, Los Angeles
$3,995,000
LISTING INFORMATION
Courtesy of Coldwell Banker Residential Brokerage
MLS#: 14-798521
Beds: 5
Sq Ft: 5,091
List Date: 10/1/14
Status: Active
Baths: 5/0/0/1
Year Built: 1941
DOM: 94
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-7985
Listing Photos 215 DENSLOW AVE, Los Angeles
$3,995,000
MLS #14-7985
More Listing Photos 215 DENSLOW AVE, Los Angeles
$3,995,000
COMMU
Area Restaurants 215 DENSLOW AVE, Los Angeles Name
$3,995,000 Type
Distance
Feast At Rieber
Asian Fusion, Japanese, Korean
0.38 mi
West Restaurant & Lounge
American (New), Lounges
0.59 mi
Bel Air Bar + Grill
American (Traditional), Wine Bars
0.7 mi
Manny's Pizzeria
Pizza, Italian
0.72 mi
Il Piccolo Verde
Italian
0.77 mi
il Tramezzino
Cafes, Italian
0.82 mi
Belwood Bakery Cafe
Cafes, Bakeries
0.84 mi
ROAST Deli & Market
Delis, Sandwiches, Meat Shops
0.85 mi
Lemonade
Delis, Cafes, Juice Bars & Smoothies
0.85 mi
Bella Pita
Middle Eastern, Sandwiches, Mediterranean
0.88 mi
Fat Sal's Deli
Delis, American (New), Burgers
0.89 mi
Koala Tapioca
Cafes, Asian Fusion, Bubble Tea
0.91 mi
Gushi
Korean
0.91 mi
SEAS Cafe
Cafes
0.92 mi
Chick-fil-A
Fast Food
0.95 mi
House of Meatballs
Italian
0.96 mi
Rating 39 reviews 264 reviews 80 reviews 84 reviews 50 reviews 46 reviews 177 reviews 158 reviews 271 reviews 478 reviews 596 reviews 56 reviews 694 reviews 65 reviews 129 reviews 37 reviews
MLS #14-8154
Property Details 463 S BENTLEY AVE, Los Angeles LISTING INFORMATION
$2,199,000 Courtesy of Berkshire Hathaway HomeServices California Properties
MLS#: 14-815417
Beds: 3
Sq Ft: 2,532
List Date: 12/15/14
Status: Active
Baths: 2/1/1/0
Year Built: 1940
DOM: 61
FEATURES Floors: Hardwood, Stone Tile Stories: 1 Cooling: Central Heating: Forced Air View: Walk Street Zoning: LAR1 Water: In Street Lotsize: 9827 REMARKS CLASSIC & NEWLY REMODELED 1940'S TRADITIONAL. COMPLETELY UPGRADED THROUGHOUT. ONE STORY 3 BD / 4 BA IN 2,532 SF. MAIN HOUSE FEATURES BRIGHT & OPEN FLOOR PLAN, SPACIOUS LIVING ROOM W/ FIREPLACE, FAMILY ROOM, FORMAL DINING ROOM, NEW GRANITE KITCHEN WITH BREAKFAST NOOK, MASTER SUITE, DARK HARDWOOD FLOORS, ALL NEW FIXTURES AND APPLIANCES, 9,827 SF FLAT LOT, MATURE LANDSCAPING & GARDENS, UPGRADED ELECTRICAL & PLUMBING, LARGE EXTENDED TWO CAR GARAGE. FRENCH DOORS LEAD TO LOVELY PRIVATE GRASSY YARD TAKING YOU TO A FULL GUEST HOUSE (OVER 900 SQ FT PER APPRAISER). GUEST HOUSE HAS HUGE "GREAT" ROOM, FIREPLACE, GRANITE BATH AND KITCHEN AND IT'S OWN PRIVATE FENCED YARD. GREAT INCOME POTENTIAL AND INCREDIBLE CURB APPEAL ON A MUCH DESIRED STREET. DON'T MISS THIS AMAZING BUYING OPPORTUNITY. BEVERLY HILLS & WESTWOOD ADJACENT, CLOSE TO SHOPPING, UCLA AND THE BEST OF LA'S WESTSIDE LIFESTYLE.
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-8154
Buyer Comments
463 S BENTLEY AVE, Los Angeles LISTING INFORMATION
$2,199,000 Courtesy of Berkshire Hathaway HomeServices California Properties
MLS#: 14-815417
Beds: 3
Sq Ft: 2,532
List Date: 12/15/14
Status: Active
Baths: 2/1/1/0
Year Built: 1940
DOM: 61
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-8154
Listing Photos 463 S BENTLEY AVE, Los Angeles
$2,199,000
MLS #14-8154
More Listing Photos 463 S BENTLEY AVE, Los Angeles
$2,199,000
COMMU
Area Restaurants 463 S BENTLEY AVE, Los Angeles Name
$2,199,000 Type
Distance
Il Piccolo Verde
Italian
0.53 mi
ROAST Deli & Market
Delis, Sandwiches, Meat Shops
0.56 mi
Lemonade
Delis, Cafes, Juice Bars & Smoothies
0.56 mi
Belwood Bakery Cafe
Cafes, Bakeries
0.57 mi
Feast At Rieber
Asian Fusion, Japanese, Korean
0.58 mi
Bella Pita
Middle Eastern, Sandwiches, Mediterranean
0.73 mi
Fat Sal's Deli
Delis, American (New), Burgers
0.74 mi
Gushi
Korean
0.75 mi
Koala Tapioca
Cafes, Asian Fusion, Bubble Tea
0.76 mi
Native Foods Cafe
Vegan, Vegetarian, American (New)
0.93 mi
sugarFISH
Sushi Bars, Japanese
0.96 mi
TLT Food
American (New)
0.96 mi
Tavern
American (New), Breakfast & Brunch
0.96 mi
Garlo's Aussie Pie Shop
Australian, Diners, Bakeries
0.97 mi
SEAS Cafe
Cafes
0.99 mi
Mesa Brazilian Eatery
Brazilian
0.99 mi
Rating 50 reviews 158 reviews 271 reviews 177 reviews 39 reviews 478 reviews 596 reviews 694 reviews 56 reviews 913 reviews 660 reviews 571 reviews 770 reviews 156 reviews 65 reviews 89 reviews
MLS #14-7907
Property Details 11231 HOMEDALE ST, Los Angeles
$2,179,000
LISTING INFORMATION
Courtesy of Hilton & Hyland
MLS#: 14-790747
Beds: 5
Sq Ft: 3,396
List Date: 9/4/14
Status: Active
Baths: 4/0
Year Built: 1948
DOM: 163
FEATURES Floors: Carpet, Hardwood, Travertine Stories: 1 Cooling: Air Conditioning, Central Heating: Central View: Tree Top Zoning: LAR1 Pool: In Ground Lotsize: 6494 REMARKS ON A QUAINT FAMILY-FRIENDLY STREET IN THE WARNER SCHOOL DISTRICT STANDS THIS GORGEOUS UPDATED HOUSE READY FOR A FAMILY TO CALL IT "HOME". THE OPEN FLOOR PLAN BOASTS AN OVER-SIZED FORMAL LIVING ROOM, ANCHORED BY A FIREPLACE, WITH TONS OF NATURAL LIGHT. DESIGNED WITH FAMILY FUN IN MIND, THE FAM/ROOM FEATURES A BUILT-IN LIBRARY- STYLE BOOKSHELF AND OPENS OUT TO THE GREAT OUTDOOR SPACE ALSO KNOWN AS THE "BACKYARD." THE CUSTOM GOURMET KITCHEN IS LOADED WITH ALL THE BELLS/ WHISTLES, OFFERING THE PERFECT SETTING FOR EVERY COOK IN THE FAMILY. A PICTURESQUE DINE-IN BREAKFAST AREA, A LARGE FORMAL DINING ROOM, AND 2 BEDRMS ON THE MAIN FLOOR, ONE OF WHICH IS CURRENTLY SET UP AS AN OFFICE. UPSTAIRS THERE ARE 3 BEDRMS INCLUDING A PRIVATE MASTER SUITE WITH CATHEDRAL CEILING, A LARGE SPA-LIKE BATH, AND A PRIVATE BALCONY PERFECT FOR ENJOYING A GREAT BOOK OR A QUICK "SIESTA." THE BACKYARD IS A GREAT EXT...
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-7907
Buyer Comments
11231 HOMEDALE ST, Los Angeles
$2,179,000
LISTING INFORMATION
Courtesy of Hilton & Hyland
MLS#: 14-790747
Beds: 5
Sq Ft: 3,396
List Date: 9/4/14
Status: Active
Baths: 4/0
Year Built: 1948
DOM: 163
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #14-7907
Listing Photos 11231 HOMEDALE ST, Los Angeles
$2,179,000
MLS #14-7907
More Listing Photos 11231 HOMEDALE ST, Los Angeles
$2,179,000
COMMU
Area Restaurants 11231 HOMEDALE ST, Los Angeles Name
$2,179,000 Type
Distance
West Restaurant & Lounge
American (New), Lounges
0.34 mi
Il Piccolo Verde
Italian
0.48 mi
Bel Air Bar + Grill
American (Traditional), Wine Bars
0.53 mi
Manny's Pizzeria
Pizza, Italian
0.53 mi
Belwood Bakery Cafe
Cafes, Bakeries
0.56 mi
ROAST Deli & Market
Delis, Sandwiches, Meat Shops
0.59 mi
Lemonade
Delis, Cafes, Juice Bars & Smoothies
0.59 mi
Le Pain Quotidien
Breakfast & Brunch, Belgian
0.59 mi
Divino
Italian
0.62 mi
Feast At Rieber
Asian Fusion, Japanese, Korean
0.67 mi
The Restaurant at The Getty Center
American (New), Cafes
0.87 mi
Bella Pita
Middle Eastern, Sandwiches, Mediterranean
1.04 mi
Fat Sal's Deli
Delis, American (New), Burgers
1.06 mi
Gushi
Korean
1.07 mi
Koala Tapioca
Cafes, Asian Fusion, Bubble Tea
1.07 mi
SEAS Cafe
Cafes
1.2 mi
Rating 264 reviews 50 reviews 80 reviews 84 reviews 177 reviews 158 reviews 271 reviews 52 reviews 77 reviews 39 reviews 387 reviews 478 reviews 596 reviews 694 reviews 56 reviews 65 reviews
MLS #15-8783
Property Details 10328 WILKINS AVE, Los Angeles
$1,549,000
LISTING INFORMATION
Courtesy of Teles Properties, Inc.
MLS#: 15-878339
Beds: 3
Sq Ft: 1,628
List Date: 2/11/15
Status: Active
Baths: 1/1/0/0
Year Built: 1938
DOM: 3
FEATURES Floors: Hardwood Stories: 1 Cooling: Central Heating: Central View: City, City Lights, Tree Top Zoning: LAR1 Lotsize: 6384 REMARKS Traditional 3 bed/2 bath with perfect balance of updates and original period details & charm. Flagstone walkway leads to formal entry. Archway leads to living room w/ crown molding, brick-front fireplace & shutters opening to formal dining room with wainscotting, blt-in hutch & bkyd access, ideal for entertaining. Recently remodeled sunfilled kitchen overlooking backyard & Century City skyline views with granite countertops, gas range/oven, walkin pantry. Full laundry room off kitchen w/ charming dutch-door accessing private beautifully landscaped backyard, complete with brick patio & lemon tree to enjoy year-round. Spacious rear master suite w/ large closet & updated full bath. 2nd & 3rd bedroom with original coved ceilings. Additional features include access garage, hardwood flooring, central a/c/heat, tankless water heater, surround sound system, alarm system & ideal natural ligh...
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #15-8783
Buyer Comments
10328 WILKINS AVE, Los Angeles
$1,549,000
LISTING INFORMATION
Courtesy of Teles Properties, Inc.
MLS#: 15-878339
Beds: 3
Sq Ft: 1,628
List Date: 2/11/15
Status: Active
Baths: 1/1/0/0
Year Built: 1938
DOM: 3
How do you rate this property? Comments:
Information is deemed reliable but not guaranteed.
Source: TheMLS.com
MLS #15-8783
Listing Photos 10328 WILKINS AVE, Los Angeles
$1,549,000
MLS #15-8783
More Listing Photos 10328 WILKINS AVE, Los Angeles
$1,549,000
COMMU
Area Restaurants 10328 WILKINS AVE, Los Angeles Name
$1,549,000 Type
Distance
Clementine
American (New), Breakfast & Brunch, Bakeries
0.21 mi
Gulfstream
American (New), Seafood
0.36 mi
Wink's Lobster & Seafood
Seafood, Street Vendors
0.4 mi
Bolee's Gourmet
Sandwiches, Coffee & Tea, Bagels
0.44 mi
Craft
American (New)
0.58 mi
1880 Cafe
American (New), Sandwiches
0.58 mi
Hinoki & The Bird
American (New)
0.62 mi
Bru's Counter
Salad, Sandwiches
0.8 mi
Tanzy
Italian
0.97 mi
Panini Cafe
Italian, Mediterranean
1.07 mi
Palomino
American (New), Mediterranean
1.08 mi
Cafe Glace
Persian/Iranian, Cafes, Pizza
1.08 mi
Attari Sandwich Shop
Sandwiches, Persian/Iranian
1.08 mi
Ramayani
Indonesian
1.08 mi
Pomodoro Trattoria
Italian
1.09 mi
The Room Sushi Bar
Sushi Bars
1.09 mi
Rating 696 reviews 469 reviews 21 reviews 16 reviews 1288 reviews 50 reviews 630 reviews 95 reviews 90 reviews 266 reviews 969 reviews 128 reviews 333 reviews 339 reviews 527 reviews 331 reviews
INFO
What Are Your Homebuying Goals? With the dramatic rise and fall of housing prices over the last decade, consumers have new respect for homes as investments. But the flip side, is that your investment is still a home, one you’re likely to occupy for several years or more.
Ownership According to the annual Profile of Home Buyers and Sellers, compiled by the National Association of REALTORS®, the primary reason buyers cite for purchasing a home is simply the desire to own, followed closely by the desire for more space, and a change in the family situation. For most people, buying a home is more about giving household members more comfortable living arrangements and putting them closer to jobs, favorite activities, other family and friends. What are your goals for buying a home? You might want a better home and neighborhood. You might want a different kind of living experience, such as moving from an apartment to a single-family home with a private garage and yard. Your family may be growing, so you have to think about school districts and proximity to parks and other recreation. If you’re not certain, you might think about what would change about your situation if you became a homeowner. You’ll definitely be more established. If you’re like most homebuyers, you expect to stay in your new home about 10 years.
Equity You’ll also build equity for yourself, instead of for someone else. Every payment you make, plus the rules of inflation will eventually allow you to recoup most if not all of your investment, or make a profit when you sell. Affordability may also be an important factor for you. The combination of low interest rates and low prices allows you to buy more home for the money. Rents are rising, making ownership more affordable than renting in many areas, especially when you factor in tax incentives such as mortgage interest deductions and property taxes allowable as deductions against your income. When you buy, make your goals long-term. Choose the home you think will serve your household’s needs the best for the longest period of time, as it’s been proven that the longer you own a home, the more equity you’ll build. Today’s market conditions and affordability, make it more likely that you will reach your homebuying goals, no matter what they are.
INFO
How to Decide Which Home to Buy Buying a home is a long-term commitment. The home you buy should be affordable, yet offer the size, features and amenities you and your family want.
Affordability Your monthly payments should be comfortable for you to handle, in relationship to your total obligations, about 28% of gross monthly income. Your house payment and your debts should not exceed 36% of your income, including revolving credit, student loans, and child support. You should also be in the correct loan for your needs. A fixed rate is more expensive, but offers more protection than an adjustable rate mortgage that can reset to a higher amount, making your monthly payments higher. Also, consider the monthly operating costs of the home including utilities, HOA fees, landscaping, commuting, and other costs.
Location Location is about convenience, and you’ll pay a premium to be closer to work centers, parks, shopping and transportation. You can buy a smaller home, or you can buy a home in need of updates to get closer to where you need to be. Think about your commutes to frequent destinations, including jobs, schools, family and friends. To get “more house,” you may have to move further away from core city centers.
Features Make a list of must-have features so you can narrow your home search. A front porch, a two-car garage, hardwood floors, and eat-in kitchen can all add to the enjoyment of your home. Just as important is how your home is designed. The number of bedrooms and baths should suit your household members, and the layout should suit your lifestyle. If you like to entertain, you should have plenty of dining space and storage for dishes and cookware. If you frequently work at home, you’ll need a home office or at least a quiet designated workspace. Just make sure the home you choose allows room for your family to grow. Talk to your lender and see what you can qualify to buy, then talk with your real estate professional about the home you have in mind. With professional guidance, you should be able to find and buy the home of your dreams, where you’ll be happy for a long time to come.
INFO
Making an Offer Before you submit an offer, have your agent pull up the most recent sold comparables (CMA) within a reasonable radius of the home, so you can compare the home fairly in terms of location, size, features, and amenities. Next, ask your agent about market conditions, so you can choose a strategy.
Strategy In a buyer’s market, discounts are common because there are fewer buyers, more properties for sale, and home prices are soft or falling. In a seller’s market, homes sell quickly for full price or higher because there are plenty of buyers and few homes for sale. Whether you are in a buyer’s market or a seller’s market, your goal is to buy the home at a fair price. If you were the seller, what is the lowest possible price you’d accept?
Risk Low-balling the seller is risky. If the seller feels insulted by your offer, you’ve lost the opportunity to negotiate. On the other hand, some sellers are simply unrealistic about their home’s value. Maybe your offer will be their wake-up call. If the seller’s home is offered at a reasonable price, pay asking price or close to it. A home priced to sell will sell quickly. Is there a way to sweeten your offer with a quick closing or an all-cash sale? To show the seller you’re serious, include a copy of your lender’s pre-approval letter, along with a cover letter summarizing your strengths as a buyer in terms of creditworthiness, flexibility in closing, and why you love this home. Include a copy of your comparables to show why you feel your offer is a fair price for the property. If your offer is conditional, such as your need to sell another home before closing on the seller’s, you’ll have to find a way to sweeten the deal, such as a full-price offer. Few sellers would accept a discount and a contingency at the same time.
Reward Your real estate professional will help you draft the offer with a price, estimated closing date, and terms, including earnest money (a guarantee that you’ll perform as a buyer in good faith), final approval by your lender, and your right to have an inspection. Once your offer is negotiated and accepted, your earnest money will be sent to the escrow agent's office. Now the inspections occur, and this is where the contract negotiations can break down. During the inspection process, the inspector will tell you about the condition of appliances, heat and cooling systems, roofs, electrical and plumbing systems, etc, and if your future home is up to current city codes. You should only renegotiate a repair when it wasn’t obvious before, or when a system is unsafe or not functioning. Once the seller has agreed, your offer is now a binding contract, and you’ll proceed to closing.
INTRO
Contact Me Scott McIntosh Coldwell Banker
BRE number 01759826
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310-500-6107
Web
www.scott-mcintosh.com
scott@scott-mcintosh.com
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Address
11999 San Vicente Blvd. Suite 100, LA CA 90049
Office
310-979-3942