Sunday, May 09, 2010
947 N. Brighton and 4644 Coldwater Canyon #301 both closed this past week
Both 947 N. Brighton and 4644 Coldwater Canyon, #301 closed escrow this week (that's Brighton, above). I rep'd the buyers for Coldwater and the sellers for Brighton.
4644 Coldwater is a brand new condo building. As in most brand-new building transactions, the developer/seller gave my buyers lots of incentives: big credits towards closing costs, high-end appliances, all home owners association fees paid for a year, etc. My clients and I were generally happy with how everything went, all requested touch-ups and fixes were timely done, etc. The seller even let the buyers close late in order to take advantage of the California state tax credit. Mara Escrow handles most new building/unit escrows around here, and I’ve had very mixed performance from them in the past, but this Mara office (
) was top-notch. So was the building’s lender, Corey Reid at Met Life. Bev Hills
The 947 N. Brighton transaction went pretty smoothly, too, and the house closed at $568,000. A tv music supervisor bought the house and intends to turn the unit over the garage into a sound studio. Excellent choice, in my opinion. We delayed the close of escrow, which didn’t thrill the sellers, so the new buyer could take advantage of the state tax credit. Also, pest work turned out to be more extensive (and expensive) than we thought – there were not only more termites, but there was a bee hive that needed to be removed, too.