Harbor City, CA

Another successfully closed sale! - 25410 Bayside Place, Harbor City, CA - $362,000

This was actually a client that was referred to me from another ActiveRain member - Deborah Stone (who is a great agent, by the way, we met at RainCamp in both Los Angeles and San Diego)

This was a rough one, but I got it closed!

I did have an initial problem with the lender due to the property being on leased land, but I eventually got that resolved. I had to contact several entities to find a long-lost land lease addendum that was drawn up many years ago with the original developer, plus the original land lease.

The biggest issue with this property ended up being the appraisal. This property was a PUD (Planned Unit Development), which are basically detached single family homes on a small lot that are part of an association.

The agreed upon purchase price was $367,000, with $5,000 credit towards buyer closing costs, with one stipulation: for any amount below $362,000 the appraisal comes in, the buyer would have to bring in the difference in cash.

Well, the appraisal came in at $352,000. And if you know the area and this tract, that really wasn't right due to recent comps at the time, and the amount of upgrades this home had, which was well over $10,000.

Well, the Ralphster had to go to work!!

It took me 4 days of solid research and work, but I had put together a very detailed 17-page Appraisal Review Request which involved contacting many different entities and many phone calls to agents that had closed on the comps I used for testimonials.

I needed to send it to the underwriter for review, and I was told that this particular underwriter had a history of 0% record of changing their appraisal.

Anyway, mostly due to my background as a Prudential relocation certified agent, I knew exactly what to do, and exactly what important factors to highlight, and believe it or not, I got the appraisal revised to $362,000!!

Seller was happy, buyer was happy, the agent on the other side couldn't believe that I actually did it - Win/Win!!

I was pretty beat up after that escrow closed and needed to take a few days off!!

Know your stuff and NEVER GIVE UP!!

Located in prestigious "Green Meadows" on a quiet street this beautiful home has elegant, open floorplan; Recently remodeled, modern and bright, overlooking backyard kitchen w/stainless steel appliances, marble/glass counters. Seperate dining room opens up to a spacious and private backyard with professional landscaping and large patio areas, perfect for BBQ and entertaining. Large, bright and airy living room with fireplace; Large master bedroom has its own remodeled bathroom; designer paint, newer dual pane windows, newer garage door and new roof (less than 1 yr). Rod-iron fenced front patio area with a gate, safe for the kids. Move-in ready! Perfect for first time buyers or if you want to downsize.

Buy it with only 3.5% down!

Click here for more details

Please call Krystyna Baty at 310-918-5027 for details or private showing!

HURRY - it won't last!

New Listings: 5

Average Listing Price: $ 331,959

Listings Under Contract: 3

Average Listing Price: $ 283,266

Sold Listigs: 1

Average Listing Price: $ 285,000

% Sales Price Versus Listing Price: 109.66 %

% Sales Price Versus Old Listing Price: 109.66 %

Average Days on The Market: 6

http://www.stoppayingrentinla.com Foreclosures, Mls, Probates, Short Sales

New Listings: 7

Average Listing Price: $ 280,300

Listings Under Contract: 7

Average Listing Price: $ 399,671

Sold Listigs: 1

Average Listing Price: $ 540,195

% Sales Price Versus Listing Price: 98.36 %

% Sales Price Versus Old Listing Price: 84.39 %

Average Days on The Market: 100

http://www.stoppayingrentinla.com Foreclosures, Mls, Probates, Short Sales