Lofts Downtown Los Angeles – Page 53

A buyers agent can save you $25,000 on a loft purchase in Los Angeles

Should a loft buyer use the listing agent or the buyer’s agent? Being represented by a buyer’s agent gives a buyer the advantages of loyalty and confidentiality, objective advice, help with negotiating, and access to more homes. The buyer can reap substantial savings with the aid of a buyer’s agent.

Many home buyers and renters think that they may get a better deal on a loft, condo or house if they work directly with the listing agent. They may believe that a listing agent will somehow reduce the price or give the buyer some of the commission or a better negotiation position. It sounds promising, but wishful thinking like this could end up costing the buyers much more than it could save them. #industrial #lofts

The seller’s agent ( listing agent ), sometimes has a hard time being fair when representing the buyer because the listing agent already has a relationship with the seller. Listing agents are responsible for communicating anything and everything they learn about the buyer to the seller. This means that, if they find out what a buyer’s bottom-line number is, or their level of motivation for buying, the listing agent is obligated to disclose it, giving the sellers an advantage in negotiations.

Another major distinction is that the buyer’s agent can guarantee to save money for the buyer. Seller’s agents are not allowed to make such a guarantee. Most buyers use a buyer’s agent because the buyers agent will get them a lower price and better terns most of the time. #buyersagent

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

In the market for an industrial loft? Hire a buyer’s agent to get the best price and terms.

Copyright © This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not associated with the homeowner’s association or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

In the sight of the law all people are protected in housing issues.

What Is the Fair Housing Act?

The Fair Housing Act is a federal law enacted in 1968 that prohibits discrimination in the purchase, sale, rental, or financing of housing—private or public—based on race, skin color, sex, nationality, or religion. The statute has been amended several times, including in 1988 to add disability and family status.¹ State and local laws may expand on these protections in some jurisdictions, but may not detract from or reduce them. #fairhousing

What Makes for Housing Discrimination?

Here are some examples of what may be considered illegal discrimination under the law:

A landlord says that an apartment is available when a prospective tenant calls to inquire over the phone, but upon seeing that the person who inquired is African American, says that the apartment has just been rented. Upon hearing an inquiry from a member of another race, the landlord says it is available again.
A real estate agent refuses to show a house for sale in a specific neighborhood because of the race, religion, or ethnicity of the buyer—or conversely, steers a buyer to a different neighborhood when they asked to see a property elsewhere at the same price range.
A mortgage lender charges an applicant a higher interest rate for a loan to buy a home in a predominately Latinx neighborhood than in a predominately white neighborhood or steers a borrower to a loan with less favorable terms because of their sex, race, or nationality.
A modern multifamily condominium fails to comply with accessibility requirements for buildings erected after 1991, such that a prospective wheelchair-bound buyer can’t access a unit or parking there.
A rental agent refuses to rent an apartment to any single woman with children

Finding your right home is hard enough, Your rights are protected.

KEY TAKEAWAYS

The Fair Housing Act outlaws discrimination against home renters and buyers by landlords, sellers, and lenders on account of their race, color, religion, sexual orientation, nationality, disability, or family status.
The Act is enforced at the federal level by the Dept. of Housing and Urban Development (HUD).
State laws can enhance the protections under the Fair Housing Act, but cannot reduce them.
Housing discrimination persists nonetheless and can be difficult to prove. Winning a legal case requires proper documentation and patience. #entarlovesyou