Our clients in this transaction were exceedingly patient in a sellers’ market, and as a result of that patience were able to secure a property for almost $20,000 below list price. After several months of searching for a Spanish-style single family home in the Silver Lake and Hollywood Hills areas, and consistently checking on new available listings, our clients identified this home and immediately decided to make an offer. Despite competing against other offers, including an all-cash offer, we were able to assist our buyers with negotiating a price reduction from the initial list price of $1,049,000.00 down to $1,030,000.00. During escrow, we recommended thorough investigations of the property and surrounding hillside, which revealed several required repairs. Through further negotiation, we were able to obtain the seller’s agreement to take on the responsibility of making most of those repairs, including a new sewer line, as well as a substantial credit against closing costs. What’s more, despite the need for extensive inspections and repairs, we were able to close the deal with an escrow period of only 36 days. Our clients can now enjoy their new, move-in ready home with beautiful views of Downtown and in a great location close to the Hollywood Bowl and everything else that Hollywood has to offer.
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