You may think that the process of buying a home in Los Angeles is totally a matter of the highest price. Whoever offers the most is going to get the home. In many cases that is true, but there still remains an element of the personal in some transactions.
There are still homeowners who are emotionally attached to the property. And there are still agents who actually consider the buyers who are
making offers and their agents, to see with whom they are going to be able to work, and who is going to close. The combination of the two can help those buyers who have been shut out of the crazed multiple-offer market in the past.
I have buyers looking for an investment property who have not been able to get an offer accepted because of the shortage of inventory and the glut of buyers, a lot of whom are investors. So multiple bidding, all cash offers, and offers way over asking have been the norm of late. However, I see a little slowing down. Maybe because listing agents are becoming rather gun shy over investors who back out of deals. Maybe because interest rates have risen slightly. But I was recently asked that my buyers write a letter about themselves as these particular sellers who were heirs to a property wanted to see the home go to someone they could relate to.
There seems to be more of this lately. Sellers and their agents want strong, clean offers and they want to feel that the buyer is going to complete the escrow process and buy the home. There are way too many homes falling out of escrow.
So if you are buying a home in Los Angeles don’t give up. There is one calling your name. You just need to woo it a little.
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