Category: Sell Home

Posted on

Home Seller Mistakes

Mistakes to avoid when selling a loft, condo or house in Downtown or Greater Los Angeles

REAL ESTATE NEWS

Here’s are some of the biggest, costliest mistakes made by condo sellers around Downtown Los Angeles over the last several years:

  1. Using a net sheet as a gauge of final sale amount
  2. Selling to an iBuyer hastily without fully marketing the home
  3. Selling with a tenant in place
  4. Not fixing up the unit with quick, easy fix-ups
  5. Selling during a panic / crash

The above list represents some of the most dramatic mistakes in real estate transaction that we’ve seen in DTLA and nearby. First of all, a Net Sheet is for the purpose of reminding sellers to account for seller closing costs and other costs associated with selling a home. The Net Sheet should be taken as only one example of myriad outcomes. While some net sheets may show an estimated final sale amount that is exaggerated and high, others may show an amount that is conservative and too low. In a recent transaction, one seller sadly took the net sheet about as a reliable indication of net worth (not the purpose of a net sheet), and received a very low offer from an iBuyer. Because the iBuyer offer added up to more profit than shown in the net sheet, the seller accepted the buyer from the iBuyer. This mistake cost the seller more than $100,000 because the ibuyer immediately re-sold the property for $85,000 more than he paid for it, and the seller could have picked up even more money if the property was presented fixed up and staged. Do not use a net sheet as a predictor. Don’t sell to an iBuyer without fully marketing the property. Most real estate professionals recommend fully marketing the property to the world so that many iBuyers and many full-retail, top-dollar buyers can see the property, and provide a selection of offers that include quick cash and top dollar spenders.

Another seller sold during a stock market panic, with tenants in place, and without fixing up the loft. That property also sold for around $100,000 less than it would have if it were sold just a bit earlier, with tenants moved out, and with the loft fixed up to look its best. Home sellers can take advantage of free reports about avoiding common mistakes, and finding out how much their home is worth in the current market. Get a free report on how to avoid mistakes when selling a home. Find out how much your home is worth. Get a free list of recently sold homes, along with list of currently listed homes for sale in the area. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Do not rely on a Net Sheet as an accurate predictor of final sale amount. The property must be marketed fully.

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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.

Posted on

11 High Cost Inspection Traps You Should Know About Weeks Before Listing Your Home For Sale

REAL ESTATE NEWS — Los Angeles, California | Blog Video

Get FREE Instant Access by completing the form on this page.

According to industry experts, there are more than 33 physical problems that will come under scrutiny during a home inspection when your home is up for sale. A new report has been prepared that identifies the most common of these problems, along with what you should know about them before you list your home for sale.

Whether you own an old home or a brand new one, there are a number of items that can fall short of requirements during a home inspection. If not identified and dealt with, any of these eleven items could cost you dearly in terms of repair. That’s why it’s absolutely critical that you read this report before you list your home. If you wait until the building inspector flags these issues for you, you’ll most certainly experience costly delays in the close of your home sale or, worse, turn prospective buyers away altogether.

In most cases, you can make a reasonable pre-inspection yourself if you know what you’re looking for. And knowing what you’re looking for can help you prevent little problems from growing into costly, unmanageable disasters.

To help home sellers deal with this issue before their home is listed, a FREE report entitled “11 Things You Need to Know to Pass Your Home Inspection” has been prepared, which explains the issues involved. | LOFT INSPECTION COMPANIES

Order this report NOW to learn how to ensure that a home inspection doesn’t cost you the sale of your home. Fill out the online form:

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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.