Friday, August 10, 2012

No offer acceptances, but as Scarlett says...

This will not come as a surprise, but my buyers' two purchase offers on property in Valley Glen and Burbank were not accepted this week.  In one case, the amount offered was equal to another buyer, but that buyer had a bigger downpayment.  Bigger downpayments equal less risk for the seller.  And that buyer indicated his willingness to bring more money to the transaction if the appraisal came in low.  That's risky.

The second purchase offer was for a gorgeous flipped house in Burbank.  Alas, we were outbid on this one.

But my buyers and I feel lucky that there has been so many nice homes out there to bid on.  And these buyers are wonderfully resilient.

Coming this weekend: my resilient buyers may look at another home in Valley Village.  Another group of buyers will be viewing a property in Burbank if the agent ever calls me back to confirm the appointment.  And my income property buyer and I will be looking for duplexes in Hollywood and Silverlake.  As Scarlett O'Hara said in Gone With The Wind, "Tomorrow is another day."

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