We have known Jim & Donna Klinge for over a dozen years, having met them in Carlsbad where our children went to the same school. As long time North County residents, it was a no- brainer for us to have the Klinges be our eyes and ears for San Diego real estate in general and North County in particular. As my military career caused our family to move all over the country and overseas to Asia, Europe and the Pacific, we trusted Jim and Donna to help keep our house in Carlsbad rented with reliable and respectful tenants for over 10 years.
Naturally, when the time came to sell our beloved Carlsbad home to pursue a rural lifestyle in retirement out of California, we could think of no better team to represent us than Jim and Donna. They immediately went to work to update our house built in 2004 to current-day standards and trends — in 2 short months they transformed it into a literal modern-day masterpiece. We trusted their judgement implicitly and followed 100% of their recommended changes. When our house finally came on the market, there was a blizzard of serious interest, we had multiple offers by the third day and it sold in just 5 days after a frenzied bidding war for 20% above our asking price! The investment we made in upgrades recommended by Jim and Donna yielded a 4-fold return, in the process setting a new high water mark for a house sold in our community.
In our view, there are no better real estate professionals in all of San Diego than Jim and Donna Klinge. Buying or selling, you must run and beg Jim and Donna Klinge to represent you! Our family will never forget Jim, Donna, and their whole team at Compass — we are forever grateful to them.
Weren’t Double Escrows outlawed in the 1980’s in California? I know the escrow companies were being watched–I knew a guy that was trying to do a double escrow a few years ago and the escrow company that handling his purchase refused to allow him to use their escrow company to sell while he was still in escrow purchasing–he had to sell it with a 2nd escrow company that had no knowledge that he was not yet on title.
This sounds like what Tom Tarrant calls “wholetailing”:
http://tomtarrant.com/case-study-what-is-real-estate-wholetailing/
It seems like it would be difficult to essentially flip a house with no improvements, on a very tight schedule, and still make a profit, but he does it, apparently.
These type of guys approach me all the time since I list many short sales. Don’t walk, run away from this type of transaction.
#2. You beat me to posting that Tom Tarrant article. Tom says right in the article that 1) doing a double escrow is tricky and 2) Wholetailing is not double escrow but actually buying the house that meets the right price numbers, 55 percent of actual value.
Anyway Jim is right. It’s very bad for these folks above to make the process sound easy. The concept is easy, offer someone a promise to pay 55 percent of actual value (you are so smart you know the actual value and they don’t) and then find a buyer to pay 70 or 80 percent of actual value and everybody wins. But HOW exactly did you arrive at the actual value? I have total trust that Tom Tarrant gets that actual value right almost every time. Would I trust the fast talking greedy eyed folks on the video above to get the actual value right? Um….NO. Should the folks above even be involved the RE market and encouraging others like themselves to be involved? Well it’s a free country I guess.
Why bother? It’s much easier to mine gold. You just go to the river, get a pan, and sort all the gold out. It’s fast, it’s easy, and you don’t need any money or credit to do it.