13 Extra Costs to Be Aware of Before Buying a Downtown Loft
13 Extra Costs to Be Aware Of Before Buying a Downtown Loft
Whether you’re looking to buy your first home, or trading up to a larger one, there are many costs – on top of the purchase price – that you must figure into your calculation of affordability. These extra fees, such as taxes and other additional costs, could surprise you with an unwanted financial nightmare on closing day if you’re not informed and prepared.
In addition to buyer’s closing costs, extra appraisal fees if no carbon monoxide detector installed and loft inspection fee, there are other common fees:
1. Appraisal Fee
Your lending institution may request an appraisal of the property which would be your responsibility to pay for. Appraisals can vary in price from approximately $175 -$ 300.
The #1 Downtown buyer’s agent, Corey Chambers is a Realtor® with the Double Platinum award-winningteam. J.D. Power Award 2012 – Keller Williams Realty ranked Highest in Overall Satisfaction for Home Buyers and Sellers Among National Full Service Real Estate Firms. DRE#01889449
Sellers – How to Unlist Your Downtown Loft: Pocket Listings, Pre-listings, Private Listings and Unlistings
Pocket Listings – Unlisted, unadvertised lofts in Downtown L.A.
Many potential sellers of Downtown lofts have rental tenants that they do not want to upset, or are otherwise not ready yet to be bothered themselves or to commit to revealing the property fully to the public. There is a type of listing for those who want to receive offers and sell the property without public listings and even without any showings to the general public.
There is one real estate team of Downtown Los Angeles loft specialists that has the largest number of fully prepared buyers under contract and ready to purchase. As many as 36 buyers with financing pre-approvals are looking today for special access to private listings. While most buyers are afraid or uncomfortable placing an offer before seeing a property, these special VIP buyers are fully educated on what to look for, know how to take advantage of special opportunities and are ready to place offers on Downtown lofts and condos. These buyers are the most astute, and are excited to place offers on properties that give an exclusive opportunity to the buyer.
Prices in Downtown L.A. – Find out how much your neighbor’s loft sold for.
The biggest secret in Downtown real estate is that 45% of transactions in the past 3 years were unlisted properties, not on the MLS and not on the internet. Most buyers and their agents did not know the properties were available for purchase. Only VIP buyers had access to the properties.
Here are the type of listings that sellers can take advantage of to get offers without fully publicizing the property for sale:
Pocket Listings – a listing that an agent shows to their clients only
Prelisting – a listing for the purpose of gathering leads and momentum before listing on the MLS
Private Listing – a listing that is not advertised at all for the purposes of privacy or secrecy
Unlisting – a listing for the purpose of receiving the largest number of offers while maintaining the level of privacy desired by the seller
With nearly half of transactions taking place off the market, buyers and sellers who are not connected with unlisted properties are missing out on a major slice of today’s real estate market, including many of the best deals, fastest and easiest transactions.
Buyers: Receive Priority Access To ALL New Listings That Match Your Home Buying Criteria, including the largest number of pocket listings in Downtown at http://www.lacondoinfo.com/vip_buyer.asp
L.A. Loft Blog, 816 S Broadway, Los Angeles, CA 90014
The #1 Downtown buyer’s agent with 19 successful buyer transactions closed in 2013, Corey Chambers is a Realtor®, and member of the Top 6 award-winning, 5-Star Yelp rated team. J.D. Power Award 2012 – Keller Williams Realty ranked Highest in Overall Satisfaction for Home Buyers and Sellers Among National Full Service Real Estate Firms. DRE#01889449
