Tuesday, November 18, 2008
High End Mixed Use Developments Are The Future Of Los Angeles Real Estate
I am beginning a series of blogs about some of the new up and coming high end mixed use developments that are beginning to pepper the Los Angeles Real Estate market. The first of which is The Glen At Valley Glen, along Victory Blvd in between Coldwater Canyon and Woodman Ave. I am separating each blog so that the specifics are a self contained unit. Feel free to contact me with your own requests for profiling a future and/or current development. Or send me what info you have, and I will fill in the blanks! The Glen At Valley Glen Much of the info is specific to this development, but this is also a place to discuss general trends of mixed use developments.
Tuesday, November 4, 2008
Documents Make Or Break The Deal... What You Need To Have To Be Successful
When writing an offer, whether it is to a bank or to an owner, you want to prove beyond the shadow of a doubt that you are the one buyer who will have NO problems closing escrow. This is a winning formula of documents that leaves nothing to the imagination of the seller:
1: The bank/broker prequalification letter- probobly the least important document in these times, because banks constantly renig and change thier lending requirements. But people still want to see it and always will.
2: The earnest money deposit check- generally 3% of the purchase price and generally the total amount of money that is put at risk from the buyer defaulting on his responsibilities per the purchase contract
3: Proof of funds- in the form of a checking account statement, with the account number blacked out
4: The first page of the buyer's credit report- with the social security number blacked out
5: The bio- an often neglected part of the offer, telling about the buyers financial position and incorporating emotional elements designed to appeal to the person making the selling decision. Be sure to use any and all information to paint THE most positive picture you can.
Follow this formula and half the battle is won. The other half being that you must have the best price and terms out of all the potential buyers. Does anyone else have something to add or more details on any of these points?
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