Our out-of-town clients were interested in securing a small condominium to use while visiting Los Angeles, and also to potentially use as a rental property. We assisted with identifying one of the most affordable units in West Los Angeles. Given the rarity of this type of unit at this price-point, there was significant interest in the property, but we were able to beat out multiple offers by utilizing an escalation clause. During escrow, we conducted a thorough investigation that revealed several issues that required attention, and were able to obtain a credit to our client to address those issues. Given our clients’ unique needs for this property, we also worked quickly to obtain and review HOA documentation to determine whether the property would properly fit our client’s needs. All of this, and despite our clients being out of town and their extremely busy work schedules, we were able to close escrow with a loan in place in only 24 days. Now, our clients are the owners of this great unit on Veteran Avenue that they will be able to use for both their personal and rental needs.
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