What isn’t easily conveyed here is the delay between making a full-price offer, and then having to wait four days before knowing the results.
It’s an unsettling time for buyers – you like the house, you want to buy it, but you need the seller’s signature to create a binding contract. If they want to take their time and shop you around, they can – and usually will:
That’s one of my favorite properties you’ve shown in Leucadia. What a spectacular backyard! The house needs a lot of work…but once it’s remodeled, it’ll be one special place.
JtR,
When we submit, our agent specifies a 24 or 36 hour turnaround, not the standard 3 day. If the LA says they’re not considering offers until a particular date, we don’t submit before then, to avoid being the one that gets shopped around to create a bidding war.
Thoughts? Sounds like the practice in NCSD is different.
Excellent work Jim. This one reminds me of our place down in Mission Hills. Priceless lot but the house isn’t much to look at. One difference is that ours was built in the 1920’s vs the 1950’s 🙂
I can see why someone would fall in love with that place. Lovely bones, if you can handle the remodeling job.
Now THAT’s a lot!!! Love to see a followup video when they have the place remodeled.
I don’t understand why people (banks mostly for REO listings, but obviously regular sellers sometimes too as in this case) only want cash offers. Now, if the property is in such poor condition you can’t finance it, you have no choice, but for something financable, why not take the higher price offer? Even a financed offer is “cash” in the sense you get paid in full now, just by the bank as opposed to directly by the buyer. Now, there’s a slightly higher likelyhood a financed offer won’t close, but if so, just take the second offer. I don’t get it.
Maybe “a bird in hand” mentality?
Ya, I’ve been wondering the same thing, Geotpf.
I’ll like to hear Jim’s thoughts.
I have never liked Leucadia. I find it claustrophobic, sketchy, and run down.
This property alone has made do a 180 in my thinking. As Han Solo would say….IT may not look like much, but she got it where it counts kid.
Leucadia is rundown, but in certain sections….like on Vulcan and parts of 101. Before my parents bought their home in Leucadia (in 1985 or so), they lived in one of the apartments on Vulcan.
It really hasn’t changed at all. But the area behind Vulcan is nice….the flat area behind Vulcan (south of the park) isn’t that great but up on the hill it’s really cool. The north side by Nantucket/Andrew/Ashbury is getting nicer and it’s funky/Leucadia-ish….which is where I grew up.
I wouldn’t trade it for anything!
Plus ya can ride the schwin down the hill for fresh donuts!
Leaucadia is like rural East Vista on the coast. Gotta love the lack of concrete there and abundant trees with space to breath!