buying a loft Archives - Loftway : Loftway


Why Use a Real Estate Agent?

15 Oct 2017 · by Virtual Results PubSub

Whether you’re buying or selling a Loft in Los Angeles, you’ve probably considered whether or not it’s really necessary to work with a professional real estate agent. With so much information available online, isn’t it possible to go through the process alone? While working for yourself may save you commission fees, it could end up costing you more in the end. Here are some of the most important reasons why we think it’s valuable to work with a professional.

Pricing expertise

Pricing a Loft is a little like playing Goldilocks. You don’t want to price too high or your Loft will languish on the market. You don’t want to price too low, or you’ll lose out on a better deal. You do want to strike the perfect balance and price it just right. A professional real estate agent will have expertise in the local market and knowledge of neighborhood comps. They’ll help guide you to choosing the perfect listing price for your Loft.

Dealing with paperwork

Buying or selling a Loft in Los Angeles generates a high volume of paperwork. This includes purchase agreements, disclosure statements, inspection reports and so much more. It can be time-consuming and intimidating to pore over each document. A professional real estate agent deals with paperwork every day, and can help you navigate through and stay on top of all the documents that need to be read, signed and processed.

Negotiation skills

Negotiating is a learned skill, and professional real estate agents practice it every day. Negotiating on your own behalf can sometimes be difficult, especially if you’re emotionally connected to the Loft. An agent can maintain professional detachment and treat the process as a business transaction.

Easy access

Although the Internet has made it easier than ever to list and browse properties for sale, it doesn’t take the place of having an agent assist with your search. A professional real estate agent will be connected to a network of other agents and have easy access to property listings. They can quickly perform searches to find Lofts in Los Angeles that meet your criteria, call the listing agents and set up appointments for viewing.  If you’re selling, an agent can field these calls for you, make appointments and answer questions.

Avoiding problems with closing

There’s nothing worse than getting all the way to closing day and have the deal fall through. Watching all those weeks and months of work just disappear can be frustrating. A good real estate agent will know what kinds of problems to look for and will be prepared to handle them before they become issues. This could include making sure the title is clear and that the lender will meet the deadline for financing. They’ll also stay on top of all the professionals involved in the process, to ensure that everything is moving forward on schedule.

Though technology has made it easy to gather information about buying and selling Lofts, it doesn’t take the place of a professional real estate agent. Having an expert in your corner can help mitigate much of the stress of the sale, head off potential problems and get you the best deal for your Loft.




Buying a Home For Sale By Owner Loft

6 Oct 2017 · by Virtual Results PubSub

Buying a Home For Sale By Owner

For Sale By Owner (FSBO) Lofts are just that – Lofts that are being sold without the assistance of a real estate agent. As a buyer, you may be wondering about buying a FSBO Loft, especially if you’re working with an agent. While there are certain risks and challenges you may face, a Loft that is FSBO can be a good opportunity. Here’s what you should know.

The buyer can use an agent

Even though the seller is not using an agent for the transaction, it does not prevent the buyer from using one. However, it does mean that the seller needs to agree to cooperate with your agent. Agents make a living from the commissions they receive. In order for them to earn a commission from a FSBO transaction, the seller needs to agree to pay their commission, or to apply a credit at closing so the buyer can pay the fee.

You should still get a mortgage pre-approval

Even though you and your agent will be dealing directly with the seller, you will still want to obtain a mortgage pre-approval letter before making an offer. Although a seller is likely more inexperienced about the process than an agent would be, it can still signal to them that you are serious about buying their Loft. In a busy market, this is especially true, as the sellers may get more than one offer.

Be sure to include contingencies

When writing up the purchase contract for the Loft, make sure you include any necessary contingencies. You want to make sure that you legally have a way out of the deal if the Loft doesn’t live up to your expectations. Contingencies you’ll want to consider including are:

  • Appraisal
  • Mortgage approval
  • Inspection
  • Clean title
  • Insurability

Decide who pays for what

There are additional fees associated with buying and selling property, and you will want to make clear from the beginning which party is paying for what. Ask your agent for advice on who would customarily pay for these fees.

Don’t skip the Loft inspection

When buying a FSBO Loft, you definitely do not want to skip the inspection. Make sure to hire a reputable Loft inspector. Even if the seller is honest, they still may not know all the hidden problems in the Loft.

Use an escrow account

In a typical real estate transaction where both parties are represented by agents, earnest money and other fees are deposited into an escrow account that is held by a neutral third party until closing. Do not hand your earnest money deposit directly to the seller. There is usually a small fee associated with opening an escrow account, and it should be decided beforehand who will pay for that.

Get a C.L.U.E. report

Be sure to request a Comprehensive Loss Underwriting Exchange (C.L.U.E.) report. It will show you if any insurance claims have been made on the Loft in the last five years. You’ll be able to clearly see if the Loft has suffered any damage in that time, such as flooding or fire.

The bottom line is – if you find a FSBO Loft you love, don’t think you have to go it alone. A trusted real estate agent can help you through the process, from the initial offer down to closing day.




How to Relax When Buying a Loft

6 Oct 2017 · by Virtual Results PubSub

How to Relax When Buying a Home

Buying a Loft can be stressful! From collecting all your financial documents to making it through the inspection process, so much can happen to cause anxiety before closing day. It’s enough to make even the most relaxed person feel tense. If you’re starting to feel the crunch, here are some great strategies for coping with stress when you’re buying a Loft.

Choose the right agent for you

One of the best ways to help alleviate Loft buying stress is to work with an agent with whom you feel comfortable. Get references from family and friends, research agents online and schedule a few interviews. Get to know a little bit about each agent and how they work. The Loft buying process can take anywhere from 30-60 days, which doesn’t even include the time spent looking at houses. During that time, you’ll be communicating with your agent often. Working with someone who is compatible with you will go a long way towards making the process easier and less stressful. You can relax knowing you’re in good hands.

Buy within your means

Yes, that LOFT with the large pool, Home theater and wine cellar is amazing. And you might be able to afford it if you work hard and cut back on other expenses. But is it really worth it? Taking on a mortgage that you can’t comfortably afford adds a terrific amount of stress to your life. When choosing a Loft, choose one whose price fits well within your means. You’ll be more relaxed during the buying process and will be able to sleep at night once you close.

Keep things in perspective

There are plenty of things to trigger your deepest worries during the Loft buying process. Will the seller accept my offer? Will I get into a bidding war? Will the inspection turn up unknown issues? Will the Loft appraise for less than the asking price? Will everything go according to plan on closing day? These are all valid concerns, but you can’t let them get the best of you. Remember that this period of transition will not last forever, and that before you know it you will be closing on a house, even if it doesn’t end up being the one you thought you would buy in the beginning. Most things in life end up working out as they should, and stressing about an outcome will only sap your energy and make you feel unwell.

Take breaks when you need to

While buying a Loft is time-consuming, it doesn’t have to take over your whole life. Take breaks from the process when you need to. Go to the movies. Spend time with friends and family. Treat yourself to a spa day. Take the dog for a walk. Read a good book. Give yourself permission to unplug periodically. It will do wonders for your health and well being to take care of yourself while going through what is inarguably a challenging and life-changing process.

If you want to be as relaxed as possible while buying a Loft, work with a trusted partner and take time for yourself when you need it. Before you know it, you’ll be handed the keys to your new house!




How to Make Buyers Fall in Love With Your Loft

6 Oct 2017 · by Virtual Results PubSub

How to Make Buyers Fall in Love With Your HomeWhen a buyer decides to make an offer on your Loft, they usually make the decision with their heart, not their head. Buying a Loft is an emotional decision, and smart sellers will leverage this information to make the quickest sale for the highest price. Just in time for Valentine’s Day, here are our best tips for how to make buyers fall in love with your Loft.

Take great photos for your online listing

In today’s real estate market, most buyers begin their Loft search online. For this reason, it’s essential that you have great photos for your listing. Put yourself in the buyer’s shoes. What kind of photos would you like to see of a potential new house? Make sure photos are well lit, rooms are clean and all your Loft’s qualities are emphasized.

Clean, de-clutter and de-personalize the interior

To make buyers fall in love with your Loft, you must make it easy for them to imagine living there. That can be difficult if there’s a giant framed photo of your grandmother staring at them, or worse, sports paraphernalia from an opposing team. Give your Loft a thorough cleaning and remove clutter, including bulky furniture. Take down all family photos and store all personal items. Your Loft should feel fresh, clean, spacious and neutral.

Appeal to a buyer’s senses

In order to work on a buyer’s emotions, you must appeal to their senses. Fill the air with good scents, like fresh flowers, baking cookies or brewing coffee. Set out some light snacks and drinks. Play some soothing, ambient music. Use fabrics with a variety of colors and soft textures for beds, couches, curtains and tablecloths. You want to make your Loft feel warm and inviting and leave potential buyers feeling relaxed and happy.

Price it right

One of the most important details that will move a buyer from “like” to “love” is offering your Loft at just the right price. Do you Loftwork and research comps in the neighborhood. Talk with your real estate agent about how to best price your Loft to sell – not too low, not too high. You want to hit it right at the sweet spot, which an experienced agent can help you do.

Are you ready to make buyers fall in love with your Loft for sale? Then follow these tips and you’ll be on your way to closing day.