7720 Goodland closed and multiple offers are no fun

7720 Goodland in North Hollywood closed last week for $31,000 over asking.  We had fourteen offers.  I know that multiple offers aren't fun for buyers, but they are not fun for sellers either.  Of the fourteen, half were cash and half required a loan.  Half were above asking, half were below.  I had about 25 individuals asking me if I would write an offer for them.  I said no, because I hate doing dual agency in that situation -- the folks asking me to write are just looking for an angle in order to get their offer pushed.

If you're in a multiple offer situation, here's what NOT to do:
- Come in with a low price if the comparables don't warrant that.  Unfortunately, sellers are more interested in dollars than they are interested in your pretty face.
- Turn in incomplete offers.  Please make sure your agent checks all the boxes.
- Don't provide enough proof of funds to close.  I was surprised at how many buyers turned in offers without proof of enough liquid funds to cover the down payment and closing costs.  Or turned in old financial statements -- please make them current.  Or turned in financials that didn't have any of the actual buyers' names on them.  Yes, I know your parents love you but I need to see money in your name, not theirs'. Yes, we Realtors do look at that and, surprisingly enough, most of us can count.

The transaction went...okay.  The agent turned everything over to an unlicensed, untrained assistant, so that was a challenge.  And the buyer wanted to do additional inspections after she had already removed her inspection contingency.  But the transaction closed.

And by the way, we did NOT take an all-cash offer -- we took one with 20% down and a conventional loan!

7720 Goodland in Noho is now on the market. 3+2 for $399,000. That's not a misprint.

Looking for the perfect home at an unbelievable price? Check out 7720 Goodland Ave., North Hollywood, 91605. How’s this for home features: stellar residential neighborhood, 3 bedrooms (could be four), 2 baths, 1509 sf (feels bigger), dining room, kitchen with eating area and plenty of counter space, big living room, beamed ceilings, fireplace, green backyard, separate 2 car garage, great vintage details – and priced at $399,000. That’s not a misprint.  This home has loads of original mid-century charm – either enhance the period details or re-do with your own decorating taste. Tax records show four bedrooms. One was converted to a dining room and can be converted back. This is a probate sale but no court confirmation is required -- call me if you'd like to know more.

Upcoming Noho listing is having an estate sale tomorrow. Here's your chance to see it before it goes on the market.

A few days ago, I mentioned an upcoming listing in North Hollywood.  You have an opportunity to see it tomorrow, Saturday, before it even goes on the market! The address is 7720 Goodland in North Hollywood and it's a 3+2.  It used to be a 4+2, but one bedroom was converted to a dining room.  It needs decorating and/or remodeling, but it's a steal at $399,000.  Large vintage kitchen, big living room with fireplace, sizeable master suite, beamed ceilings, separate 2 car garage, green backyard and a a lovely, quiet pocket of North Hollywood.

You can preview the listing at tomorrow's estate sale, conducted by estate sale manager extraordinaire Lara Nethery.  That's one of Lara's pictures above, and here's Lara's blurb:

This quaint home is all about vintage and mid century! Mostly art, furniture, electronics and collectibles. Please see my craigslist ad for more info and pictures. 

Hope to see you!! 

7720 Goodland Avenue

North Hollywood, CA 91605

http://losangeles.craigslist.org/sfv/gms/4859509160.html