Christiano is right, and he's a great downtown agent. The competition is fierce downtown and as stated, most sellers would prefer an all cash offer rather than a financed offer. In addition, some buildings have litigation and there is no financing available. Good idea to work with a downtown agent as they know which buildings are in litigation and can save you a lot of time.
Best of luck,
Downtown LA Realty
That's an interesting answer from the "downtown realtor". Sellers do love "all cash" apparently but 350 thousand in cash is a big chunk for most buyers. I think you should check with more Realtors and get more opinions about what your money will buy before being discouraged.
The LOFTS in Downtown go anywhere from $150k to over $1 Million. Some of the buildings in the lower price range have lawsuits which affect financing in the building. The good news is that most of the lawsuits are going away and most of the buildings are taking financing again. The bad news is that inventory is very low and although you dont need to pay cash, when there are multiple offers and you are competing with cash buyers you are in disadvantage. That been said you can still find LOFTS around $200k.
You can find all the LOFTS for sale on our website: http://www.loftway.com. Feel free to contact us and We will be happy to help you find your next place.
Please contact me anytime!
___________________________ Â Â
Free Consultation 424-777-9377 Â Â
Help with any Real Estate Transaction Buy & Sell! Â Â
Thank you for your time. Â Â
Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855) Â ext. 777. Â Â
Sergey Fednov Â Â
President - Realtor Â Â
- Trust Sale Realty - Â Â
Residential & Commercial Real Estate Â Â
_______________________________ Â Â
Toll Free: 1-855-TRUST-55 Â Â
Toll Free: 1-855-878-7855Â
Phone: 424-777-9377 Â Â
Get ready to be bombarded with agents on here! Every agent/broker is different. There is no "standard" per say, but it may be more common. if he isn't willing to help you, then it's not a good fit.
Get with a broker/agent who can guide you in the right direction. As a friend or family for an agent, or just interview a couple. I would be more than help to help you with your decision.
Good luck and let me know if I can be of assistance to you!