Back on Market – How to Nab a Property that Someone Else Tried to Buy

Buyers are trying harder than ever to find a great deal on an amazing loft in Downtown Los Angeles lately because there are too many buyers and not enough lofts for sale.  #dtla #loft #backonmarket

Downtown Los Angeles Loft Back on Market
Downtown Los Angeles Loft Back on Market

One often overlooked way to get access to desirable properties is by looking at pending listings, listings on hold, along with active listings under contract.  That way, a home buyer can get a sense that other buyers like the property as well. When the property becomes Active again or says Back On Market, the buyer can ask the seller why the property fell out of escrow so that the buyer can decide if that is likely to be a problem for that buyer or perhaps a great fit.

Here is one shining example of an historic loft with Mills Act tax benefits that just fell out of escrow because the first time home buyer may have been skittish of buying in general, thus possibly quite afraid of HVAC (central air conditioning and heat) needing repairs.  For this Back on Market Eckardt loft with a nice-sized balcony, the seller has already ordered the HOA-recommended A/C repair company to complete repairs by the end of next week. A more experienced or confident buyer will snap it up, protected by an easy contingency to make sure that the air conditioning gets repaired. Experienced buyers know how to take advantage of minor issues that beginner buyers might feel unsure about.

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Eckardt Building Loft with Balcony Every Day Open House - Call for times (213) 880-9910
Eckardt Building Loft with Balcony Every Day Open House – Call for times (213) 880-9910

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