Glendale El Miradero Neighborhood Sold
We just closed escrow on 1315 Raymond Ave. in Glendale’s El Miradero neighborhood. And this is how it went:
As the seller was moving to Orange County and wanted a replacement home, we discussed the different options for selling his home:
- Selling is subject to him finding a home of his choice. This method will obviously eliminate some buyers.
- Making any offer received contingent upon a two-month rent back. This too will eliminate some buyers but not as many. But with a sixty-day escrow and a sixty-day rent back, the seller should hopefully be able to find a home.
We did a pre-inspection and hired a handyman to make some minor repairs. We listed this 1302-square-foot home for $1,185,000 and closed escrow for $1,425,000. There were thirteen offers. The successful buyer waived the appraisal contingency. As there was a pre-inspection they also waived their inspection contingency. Although their down payment was 50% they wanted to keep their loan contingency. The buyer also offered the seller a sixty-day rent back for free!
The seller and I were both surprised that he found a replacement home so quickly. His seller wanted a quick escrow and a two-week rent back. He agreed and we desperately tried to speed up our escrow. As our buyer was self-employed the loan process was more difficult. The listing agent can’t control who the buyer selects for a lender. Unfortunately, the loan processor handling his file was very slow to gather paperwork from the buyer. We were only able to close our escrow a few days early. Unfortunately, this added a lot of stress to my client, the seller of his home, and all of the Realtors.
However, at the end of the day, it all came together.
Related Posts: Glendale Cumberland Heights Sold
San Gabriel remodeled Sold
