This transaction is another gleaming example of how patience can often pay off, especially for buyers in a sellers’ market. After a lengthy search process in a variety of areas, including Mar Vista, Sherman Oaks, and Santa Monica, our first-time home-buying clients were finally able to secure an excellent deal on this three bedroom, two and one-half bathroom, 1,459 square foot townhome in the highly desirable Franklin School District within Santa Monica. Spending some time in a variety of markets led our clients to the conclusion that their best fit was a townhome in Santa Monica, which resulted in a narrowed search and simply waiting for the right opportunity. When this listing at 840 20th Street became available, which appeared to be listed very aggressively, our clients jumped on the opportunity. Their flexibility as renters allowed them to offer the sellers a short leaseback after the close of escrow to permit them to find a replacement home, which played an important role in the sellers selecting our clients’ offer. The escrow process went extremely smoothly, including a property appraisal at $25,000 over purchase price. In the end, our clients ended up with a home fitting their list of needs and wants in an excellent neighborhood.
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