Market Conditions in 90048>Question Details

Peter, Home Buyer in Los Angeles, CA

If I buy for cash in west hollwood, california in the 1.5 to 2 million dollar range for a 4-plex what % might

Asked by Peter, Los Angeles, CA Sun Feb 24, 2008

I see for a price reduction?

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Answers

3
Nothing, unless the seller is desperate to close in less than 14 days. As Eileen mentioned, you'll get preference over another offer that requires a loan, but if the seller has all the time in the world, and is willing to wait for the "best offer", your cash is worth nothing to him. Remember that cash only speeds up the process so it is beneficial only to sellers looking to close quickly.

Quinn Kiet
The L.A. Condo Store
Urban Lifestyle Professionals
http://www.condostorela.com
Web Reference: http://www.condostorela.com
0 votes Thank Flag Link Tue Feb 26, 2008
Peter,
Sellers are usually very happy when someone writes n all cash offer, but there are so many factors to consider. What is the list price, and what is the rental income like? How long has it been on the market?
The terms of your contract will also go a long way in securing you a better purchase price. While an all cash offer is very attractive to sellers for the seriousness it conveys, they will need to know more about you as a buyer.
Contact me for assistance in structuring your offer to your best advantage.

Joe Connolly, Realtor®

323 481 6299 c

Keller Williams Realty - Wilshire
5900 Wilshire Blvd.
Los Angeles CA 90036

JoeConnolly@kw.com

http://www.joesellsrealestate.com

Is it really cash, liquid, ready to go? Or is it 1031 cash, contingent on a sale closing first?
0 votes Thank Flag Link Sun Feb 24, 2008
You might not get a price reduction but it would be considered a strong offer. You'd have a better chance than others bidding against you with only 20% or 30% down. Good luck. Call me if you need me. Eileen Lanza
Keller Williams Los Angeles 323.810.7935
0 votes Thank Flag Link Sun Feb 24, 2008
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