Highland Park Real Estate Agents say nearly 1-4 homes have gone for over more then asking price in the US in 2018. Highland Park, CA has that ratio beat by almost 50% percent. Highland Park, CA is “sellers market”, with droves of L.A. locals, out-of-towner’s and investors looking to capitalize on the neighborhood because of its proximity to Downtown LA, bustling eateries and entertainment as well as strong return on real estate investment.
Just because you’re not the only one interested doesn’t mean you don’t have shot. Most Highland Park Realtors will tell you that a Highland Park home can be yours using the right Highland Park Real Estate Agent and correct bidding strategy.
Cash will always help to get it done. Its ranked number 1 at 97% likelihood of success, and 438% in the luxury market (Top 10% by listing price) as it insures a faster and more efficient transaction
Understandably for most people an all cash offer is highly unlikely for Highland Park Real Estate, but there are other options as well. One option is waving financial contingencies which can increase a potential buyers chance at an accepted offer by almost 60%.
A majority of Highland Park Real Estate Agents will tell you this works because it makes the offer almost as ready to close as an all cash offer, since the buyer is stated if the loan does not come through the buyer will. There are risks to this option and a buyer should get a fully-underwritten loan before they submit their offer.
We know that will generate the highest possible result in a successful offer on Highland Park Real Estate but there are other options to win over a sellers heart. Writing the seller a personal cover letter has increased the chance of a successful offer by 52%.
Many sellers have strong emotional connections to their homes and just because they are selling them doesn’t mean they only care about money. A couple with grown children has special memories of them growing up there and may like the idea a new young family will now get to create their own memories.
Shared interests and hobbies, or just a promise that the home will be loved and cared for can be just what a seller needs to feel confident about moving on. Highland Park, CA is one of the oldest areas of LA, with some sellers living in these homes since they were children themselves. The connection to their home and neighborhood is strong and personal cover letters could do the trick.
To some, Highland Park, CA is old, and sometimes quite small on a larger parcel of land, many buyers plan to completely remodel or tear down an older home. If this is their personal preference, and the buyers and their agent have reviewed all potential risks then waiving inspection contingencies and pre-inspection will show the seller they are very serious and offer a more simple escrow period.
In extremely competitive real estate markets such as San Francisco this is basically required in order for an offer to be accepted. With Highland Park’s Real Estate market consistently increasing in popularity we might see this happening more often then not.
The number one way to have an accepted offer is to work with a Highland Park Real Estate that specializes in the area and has successfully complete many transactions in that area. They will be able to advise you of the best type of offer based on strong open communication with the listing agent. Working with an agent that lacks the experience in Highland Park, Los Angeles will be detrimental to your ability to submit a reasonable, competitive offer that will lead to success.