Sometimes you know instantly. She is in love with a new place and she is not yet disentangled from the one she used to love. No, this is not a soap opera drama but a true house hunting saga. My buyer is one of the lucky homeowners, she still has a ton of equity in her house. She does not, however, have a load of liquid cash so we're submitting an offer contingent upon the sale of her free and clear property. It is an all cash deal, but all the cash is tied to the successful sale of her property. No loan is needed, and that's a relief in this ever-changing lending market.
It will be interesting to see if the seller (and their agent) are willing to take a bit of a gamble on her achieving a speedy (and solid) sale. Her offer is full price with a 60 day close and a 3% initial deposit.
The prospective buyer's home has been on the market for nearly two weeks and we just reduced the price. A few interested parties are pondering whether to submit an offer. We hoping the price reduction will nudge them into submitting an offer. Unfortunately, for my buyer, the seller's home is a recent listing also. The offer is on the way. Let the negotiation dance begin.
I much prefer to have the buyer's home in a solid escrow prior to making an offer on a property, but sometimes the client finds "the one" they want before they have sold "the one" they're leaving behind.
I'm hoping for a happy ending on both ends!
Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800
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South Bay Los Angeles cities I sell real estate, property, houses and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach. Information is deemed reliable but not guaranteed.
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