This deal showed that hard work and creative research can pay off. After exhausting the alternatives publicly available on the MLS, our clients determined that they were not happy with the options, and wanted to identify other opportunities for a new construction single family home in Culver City. After searching through demolition and new construction permit applications and approvals in Culver City, and driving around the city to locate new construction homes, we were able to identify this home on Hannum that was still in the process of being built, and that had not yet been listed on the MLS. After obtaining and reviewing project plans from the builder, our clients decided to move forward with making an all cash offer. We then moved forward with negotiating a below-market sale price of $1.85mm, with nearby comparable homes being listed and selling for close to $2.4mm. Escrow was opened in October of 2016, and after some patience the home was finally complete in late February 2017. Our recommended investigations revealed several issues that were promptly addressed by the seller, allowing our clients to move in worry-free. At the end of the day, this spacious Hannum home presented an excellent opportunity at a reduced price, and our clients will move into a brand new home with plenty of space to grow.
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