Harb & Co Real Estate Wrap December 2014: I have listed a 3 + 2 Spanish fixer with guest house on Ben Lomond in Glendale.
I currently have the Pasadena condo in escrow—another fixer project. However, drama surrounds this one. The buyer, a real estate agent, initially decided to cancel because securing a loan was too challenging—that was the essence of her email. Consequently, I firmly reminded her that, per the contract terms, she cannot claim a refund of her deposit simply because the loan process feels burdensome.
At the beginning of the year, I sold a Glendale duplex and six months later, I found this seller his dream home in Burbank. They moved in a couple of weeks ago.
My colleague Lee Balkin sold my SFV listing, which is nothing but drama. This is a reverse mortgage foreclosure. Once the owner died, the loan needed to be repaid or the home sold to do so. Typically, this has to occur within six months. The deceased owner’s children have moved back after the sheriff’s lockout. They are now living in the garage…..It’s a long story, and we will see how it plays out.
That’s a wrap on the Harb & Co Real Estate Update December 2014
