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Pasadena Madison Heights Condo Closed

Happy to announce this Pasadena Madison Heights condo closed escrow. Once we have a signed listing agreement, we have escrow order the condo documents. This includes the Budget, Minutes of recent Meetings, Articles of Incorporation, CC & R’s (covenants, conditions, and restrictions), and By-laws. When we receive an offer, we have the buyer acknowledge and approve these documents. We also had the seller, the Administrator, complete the required disclosures in this case. The seller had passed (natural causes) in this unit, and a recent on-site death often discourages some buyers.

We recommended a list price of $549,000. This was a probate sale, and there were three beneficiaries. The Administrator directed us to list for $569,000.

Pasadena Madison Heights Condo Closed

To further complicate matters, the Knowlton Square Homeowner’s Association had repairs in progress. The building exterior had extensive dry rot, which was being repaired and repainted. The pool man was fired, and the beautiful courtyard pond was green. The first showing impressions were far from favorable.

Once the new pool man addressed the green pond, we canceled the listing from the multiple listing service (MLS) and relisted at our recommended $549,000 price. This Pasadena Madison Heights condo closed escrow at $570,000.

Related Post: Pasadena Housing Market August 2021 


One thought on “Pasadena Madison Heights Condo Closed

  1. Dolly says:

    So in the end your recommended price got the administer the price they wanted. How nice.

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