Category: Downtown Los Angeles

Downtown Loft Buyers Save Time and Money by Knowing Purchase Price Range Ahead of Time

A recent buyer failed to close escrow on a home and lost $5,000 of his deposit because he did not know how much money he had.  Buyers will always save time, money and find the perfect loft faster and easier when they know in advance exactly how much home they can afford.  More than half of buyers begin their search online without a buyer’s agent and without a lender pre-approval.  These potential buyers are worse than flying blind because, not only might they have an inaccurate estimation of the target purchase price, but they are likely seeing outdated listings online with incorrect pricing that give the wrong picture of the current market.  Buyer’s agents and lender pre-approvals are the first two keys for entering a successful path to buying an amazing loft.

Outdated online listings that were posted more than 6 months ago can be off by well over $100,000 from today’s market.  Buyers must use a Downtown specialist Realtor to get up-to-the-minute pricing on Downtown properties.  Popular third party websites such as Trulia are very helpful by showing loft and building information, but the information is on average more than 36 days older than the priority information provided by the top buyer’s agent team in Downtown Los Angeles.  It usually takes more than 30 days for the agreed sale prices to be listed on the MLS.  And now, The MLS recently announced an additional 3-day delay in releasing new MLS listings to third party websites.  Smart buyers take advantage of priority information provided free by a Downtown specialist Realtor who has privileged access to unlisted properties and unpublished pricing information on lofts that sold yesterday.

One of the biggest disasters is commonly suffered by buyers with no agent, the wrong agent or wrong lender.  These unfortunate buyers either fail completely, or have a clumsy, uncomfortable process that, if it even succeeds in landing a property in escrow, the escrow fails when the wrong lender makes a shocking phone call to the buyer to announce that the lender cannot lend on a loft.  The phone calls sounds something like, “of course we cannot do a loan on an industrial or commercial property; we are a home loan company and we just found out that this is not a residential property.”  The buyer then either loses the property, which falls out of escrow, or the buyer is asked to pay expensive per-diem fees while hoping that another lender might be able to lend on an industrial loft.  By using a Downtown specialist Realtor who would refer a the right loft lender for the building, this disaster would have been prevented.  With a Downtown specialist buyer’s agent and a pre-approval from a loft lender, the buyer can go straight to the best matches and potentially get the perfect loft on the very first try.  Ideally, the successful buyer goes into escrow with the right loft right away, and the buyer’s agent shows comparable lofts for sale simply to provide confirm that the buyer found the best deal; the agent shows the buyer several additional lofts to provide extra assurance that the buyer already found the most amazing loft that is the best match for the buyer.

More than half of Downtown loft seekers waste time by looking at the wrong properties, unavailable properties and properties in the wrong price range.  Taking more than an hour for each average wrong property, some buyers who would normally otherwise be successful find themselves burned out on seeing wrong properties, while the buyer with a Downtown specialist receives the best matches by email as soon as the properties are listed.  The buyer with the best agent saves time by seeing the right property at the right price.  Do not miss out on the right property.  Click below to get free help from the #1 Downtown buyer’s agent team, receive priority information, and get access to the largest number of pocket listings and unlisted properties.

http://www.lacondoinfo.com/contact.asp

To get VIP Insider Access to Downtown home buying reports, CLICK HERE.