All Forum Posts by: Account Closed

Welcome Michael Phillips former Chicagoan here. Husband and I have been here a little over 8 years now. Always happy to chat! Best of luck with your endeavors!!!

Yeah, I would have to imagine you are correct here.  Your offer was pretty strong to get denied and their requests were fairly unusual, especially for the current market.  Still amazes me what some people will try!  Hopefully your next go-around won't be as exciting!!!

Hi @Nigel McFarlane .  I am an agent in the Los Angeles area and would be happy to help if you are still looking for an agent.  I am formerly of Chicago so I know how different it can be moving from a larger city to Los Angeles (it is definitely not the same!).  Happy to chat at any point!

Hi Lucas.  You should really consult with your agent and potentially a real estate attorney.  In my opinion, you would want this property vacant at the close of escrow, but if you are already in escrow, that is unlikely to be something you can change.  I agree with one of the above ideas that you should offer to pay for the person to stay in a hotel or another rental perhaps.  Tenant rights are a bit tricky, especially when it comes to the owner of the property being the renter.  Highland Park is a hot area as it is still "affordable" in many parts.  A few things do sound a bit fishy for your deal!  I know you posted this a while ago, so it would be interesting to hear what happens in the end.  Best of luck to you!

Hi Warren.  The county in which you are doing this should have all of your requirements listed to remove a person from title, and it is usually a straight forward process.

Hi Andrew.  Just doing a quick comp search, and not knowing any of the specifics of your unit/complex, most condo units are selling between $450-580/sq ft.  Your fees associated with selling should not be 15%, I would think closer to 10% as a conservative estimate, but that obviously depends on a few factors.  If you don't think you will move back to Culver City, which is really hot right now, then I would certainly consider selling.  The LA market is incredibly hot and in short supply, especially for homes under $1 million (if $820K is really where you would sell).  I would be happy to chat further and run more specific comps for you.  Let me know.  Best of luck in graduate school!  That was the most enjoyable college experience for me.

Hi Stephanie. I don’t currently specialize in multi-family but I would like to! Let’s connect and chat about what you’re looking for, wanting to spend, ROI, etc.

I agree with Mark. Shorten escrow period if your lender can and shorten contingency periods if you’re able. Offer a free leaseback period following escrow for them to move out.

Hi Abel. I’m an agent in LA if you need any help on that end. My CPA, who specializes in real estate, is in Chicago but I’ve been using him for years. Happy to connect you.

Hi Andrew Poitras the market in LA is crazy and depending on your location in Echo Park, you could net more than Zillow (as they are often wrong out here). There are still way more buyers than homes so hopefully you can get enough interest to raise the sale price a bit. House hacking out here probably isn’t the easiest due to the amount of capital required, maybe there are east coast areas that would make more sense (not meaning nyc)? I work in Los Feliz so I look forward to seeing your home on the market. Best of luck!