What is a Los Angeles home buyer to do?
My client will have serious tax savings if she purchases a home in the next 40 days. We made an offer on a home listed for $1,050,000 (on the market 65 days); we offered $950,000. My client has excellent credit, a substantial down payment and is preapproved.
The counter offer we received today from the seller was $1,025,000. The home in question is a total gut; kitchen, flooring, master bath, cottage cheese ceilings – just ugly, BUT the location and “bones” of the home will work. My client has the funds remaining after her down payment to redo the home.
Questions to ask this home seller:
*how many buyers out there have half a million $$$ for the down payment and redo for a million $$$ home?
*how many buyers that have the above, have the vision to see beyond the present condition of the home?
*how many buyers remaining that meet criteria 1 and 2, are willing to buy a home today?
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12/17/2008 9:08 AM
Los Angeles Real Estate Blog wrote:
Do you recall my post regarding the client with a serious tax incentive to purchase a home this year? We had made a $950,000 offer on a home which had been on the market for 65 days. This was an ugly home but with a great floorplan on a quiet La Canada cul-de-sac. My client received a $1,025,000 counter and didn’t respond. The “ugly” home finally sold for $980,000, I hope the new buyers have the vision to restore this home, it could be amazing. Oh, so here’s the house my client did buy, the termite ... -
12/18/2008 8:21 AM
Los Angeles Real Estate Blog wrote:
Do you recall my post regarding the client with a serious tax incentive to purchase a home this year? We had made a $950,000 offer on a home which had been on the market for 65 days. This was an ugly home but with a great floorplan on a quiet La Canada cul-de-sac. My client received a $1,025,000 counter offer and didn’t respond. The “ugly” home finally sold for $980,000, I hope the new buyers have the vision to restore this home, it could be amazing. Oh, so here’s the house my client did buy, the ... -
12/18/2008 8:31 AM
Los Angeles Real Estate Blog wrote:
Do you recall my post regarding the client with a serious tax incentive to purchase a home this year? We had made a $950,000 offer on a home which had been on the market for 65 days. This was an ugly home but with a great floorplan on a quiet La Canada cul-de-sac. My client received a $1,025,000 counter offer and didn’t respond. The “ugly” home finally sold for $980,000, I hope the new buyers have the vision to restore this home, it could be amazing. Oh, so here’s the house my client did buy, the ...
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