{"id":11511,"date":"2023-12-29T19:46:25","date_gmt":"2023-12-29T19:46:25","guid":{"rendered":"https:\/\/nancyvalentine.com\/?p=11511"},"modified":"2023-12-29T19:47:57","modified_gmt":"2023-12-29T19:47:57","slug":"everyone-wants-a-deal","status":"publish","type":"post","link":"https:\/\/nancyvalentine.com\/everyone-wants-a-deal\/","title":{"rendered":"Everyone wants a deal"},"content":{"rendered":"<div><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-11512\" src=\"https:\/\/nancyvalentine.com\/wp-content\/uploads\/2023\/12\/unnamed-13-300x268.png\" alt=\"\" width=\"300\" height=\"268\" srcset=\"https:\/\/nancyvalentine.com\/wp-content\/uploads\/2023\/12\/unnamed-13-300x268.png 300w, https:\/\/nancyvalentine.com\/wp-content\/uploads\/2023\/12\/unnamed-13-768x685.png 768w, https:\/\/nancyvalentine.com\/wp-content\/uploads\/2023\/12\/unnamed-13.png 790w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/div>\n<div><\/div>\n<div>\n<h2>Listed at\u00a0$799,000, sold at $908,315!<\/h2>\n<h2>That sounds like a great outcome but let me tell you how we got there&#8230;<\/h2>\n<\/div>\n<div><\/div>\n<div>We had ten offers. We\u00a0accepted an all cash offer for $920,000 with all contingencies removed. Buyer was an experienced investor who had done his due diligence, including talking to the City regarding the extra historical overlay of being in a\u00a0Landmark District. However\u00a0the day after acceptance his architect said he thought the process would take six months to complete. The experienced\u00a0investor didn&#8217;t like that and refused to put his deposit into escrow.<\/div>\n<div><\/div>\n<p><\/p>\n<div>So we went on to Buyer #2 who had offered $925,000 but with a conventional loan. I had spoken with the lender and had even sent him the 3D video to watch to make sure he was fully aware of the condition of this major fixer. I mean the home has\u00a0no working heat, no appliances, no water heater, visible termite damage inside &amp; out etc. He\u00a0guaranteed that the loan was no problem even given the condition.\u00a0Somehow this 2nd buyer then got acceptance for an offer that he had put on another home and decided that he wasn&#8217;t able to buy two homes and didn&#8217;t want to proceed.\u00a0\u00a0Now of course that is no reason to cancel a valid, signed contract and could have been pursued legally, especially since the next highest offer was for less money. I\u00a0discussed it with the seller who decided that the juice wasn&#8217;t worth the squeeze, and we moved on to offer #3.<\/div>\n<div><\/div>\n<p><\/p>\n<div>Offer #3 \u00a0was for $908,315. This was from another experienced investor, who was using a hard-money loan. Everything went smoothly. He removed all contingencies in 2 days and put the deposit into Escrow in one day! Then two days before closing, the hard money lender wanted to recast the loan due to insurance concerns, imposing\u00a0new loan conditions.\u00a0The buyer switched to another lender who would do the deal but only if the investor bought the property in his personal name and not in the name of his corporation. So the contract needed to be assigned. We agreed to an extension with a $100 per Diem penalty.<\/div>\n<p><\/p>\n<div>Today we finally closed. The Seller was happy. The backstory here was that several months ago, before his attorney referred him to me,\u00a0the Trustee was about to sign a contract from a friendly Realtor\u00a0who was buying the home for herself and her family for $750,000.<\/div>\n<div><\/div>\n<p><\/p>\n<div>Built in 1938, this home is in the coveted neighborhood of Bungalow Heaven.. The worst house on the block in the BEST neighborhood with a deep backyard.\u00a0 Surrounded by beautifully<br \/>\nrestored homes, this is a true opportunity. Bungalow Heaven is Pasadena\u2019s first historic Landmark District.<\/div>\n<div>Filled with possibilities, this home is\u00a0a dream project.<\/div>\n<div><\/div>\n<p><\/p>\n<div>Click <a href=\"https:\/\/nancyvalentine.us9.list-manage.com\/track\/click?u=550d64d5b6500425bdf1a196d&amp;id=f94142230f&amp;e=0ba96ddf79\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/nancyvalentine.us9.list-manage.com\/track\/click?u%3D550d64d5b6500425bdf1a196d%26id%3Df94142230f%26e%3D0ba96ddf79&amp;source=gmail&amp;ust=1703883905013000&amp;usg=AOvVaw0oZ_L4_nT09vyQyBHVzLe2\">https:\/\/1035marvista.com\/<\/a>\u00a0to see 3D Matterport, pictures &amp; floor plans.<\/div>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listed at\u00a0$799,000, sold at $908,315! That sounds like a great outcome but let me tell you how we got there&#8230; We had ten offers. We\u00a0accepted an all cash offer for $920,000 with all contingencies removed. Buyer was an experienced investor who had done his due diligence, including talking to the City regarding the extra historical [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11512,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Everyone wants a deal - NANCY VALENTINE<\/title>\n<meta name=\"description\" content=\"Listed at\u00a0$799,000, sold at $908,315!That sounds like a great outcome but let me tell you how we got there... We had ten offers. We\u00a0accepted an all cash offer for $920,000 with all contingencies removed. Buyer was an experienced investor who had done his due diligence, including talking to the City regarding the extra historical overlay of being in a\u00a0Landmark District. 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