Success Story Series 19admin
Needless to say that this whole process for 100 Oak Knoll was full of challenges, frustrations and complications; however, perseverance eventually prevailed.
Since 2016 seller had hired 3 different agents and listed 100 Oak Knoll on the market 5 times; however, none of them were able to deliver any result. Finally, after a few years, the seller approached me and asked me to see if I would be interested in helping him sell 100 Oak Knoll after I had successfully sold his secondary property 33 Canyon Terrance in Newport Coast quickly even during the Christmas slow season for $9,400,000. Without any hesitation I took up this challenge.
During the listing, I had opened escrow twice for 100 Oak Knoll, however, one thing or the other, something always had came up during the escrow period. During this time, the Seller started to get very frustrated and then decided to take it off market. During this time, the owner had allowed me to provide all my skills and professionally to sell his home off market!
Giving-up is not my forte! So therefore, I continued and kept on plugging this home into my domestic and international marketing network. Talking about 7-degree of connections one of my Chinese friend’s friend who is in my Chinese social media circle saw my Ad in China and reached out to me. After about a week of communication buyer decided to make a trip to Los Angles to conclude the purchase in person.
Speaking of wasting no time and optimizing the efficiency here is a quick overview of the whole process:
My buyer arrived in LA on Sunday, May 19th;
Meeting to confirm the term-sheet took place on Monday, May 20th;
All-cash purchase contract was drawn up and signed on Tuesday, May 21st;
Purchase fund wire-transfer completed on Wednesday, May 22nd;
Confirmation on key documents on Thursday, May 23rd;
Transfer was officially recorded on Friday, May 24th.
This 4-day escrow was smooth and successful; however, it still didn’t beat my 3-day escrow record for my listing of 12 Sky Vista with a FULL-Price All-CASH offer of $2,280,000 to a Chinese buyer.
Even though my buyer decided to buy this property after only viewing the property pictures that I sent, buyer still made a special trip to LA in person. On the contrary the Chinese buyer for my recent listing of 77 Sunset Cove sold at $2,500,000 never even showed up to see the property; he made his purchase decision over my property photos and video only (www.77sunsetcove.com). It was sold at the highest unit price for like-kind properties in the same community!
Currently I have multiple active listings on the same exact street 111 Sunset Cove (www.111sunsetcove.com) listed at $3,898,888 and 61 Sunset Cove (www.61sunsetcove.com) listed at $2,098,000 and 81 Sunset Cove listed at $2,148,000 is pending to be sold in all-cash to another Chinese buyer.