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Glendale El Miradero Neighborhood Sold

Glendale El Miradero Neighborhood Sold

Glendale El Miradero Neighborhood Sold

We just closed escrow on 1315 Raymond Ave. in Glendale’s El Miradero neighborhood. And this is how it went:

As the seller was moving to Orange County and wanted a replacement home, we discussed the different options for selling his home:

  1. Selling is subject to him finding a home of his choice. This method will obviously eliminate some buyers.
  2. Making any offer received contingent upon a two-month rent back. This too will eliminate some buyers but not as many. But with a sixty-day escrow and a sixty-day rent back, the seller should hopefully be able to find a home.

We did a pre-inspection and hired a handyman to make some minor repairs.  We listed this 1302-square-foot home for $1,185,000 and closed escrow for $1,425,000.  There were thirteen offers. The successful buyer waived the appraisal contingency. As there was a pre-inspection they also waived their inspection contingency. Although their down payment was 50% they wanted to keep their loan contingency.  The buyer also offered the seller a sixty-day rent back for free!

The seller and I were both surprised that he found a replacement home so quickly. His seller wanted a quick escrow and a two-week rent back. He agreed and we desperately tried to speed up our escrow. As our buyer was self-employed the loan process was more difficult. The listing agent can’t control who the buyer selects for a lender. Unfortunately, the loan processor handling his file was very slow to gather paperwork from the buyer.  We were only able to close our escrow a few days early. Unfortunately, this added a lot of stress to my client, the seller of his home, and all of the Realtors.

However, at the end of the day, it all came together.

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