Total Realty Group made contact with the seller during the initial COVID lock down as a care call and kept in touch. On a follow up call the seller expressed having difficulties with a tenant at a Historic Filipinotown multifamily property. The tenant had opened numerous LA Housing Dept. cases and the seller, living a considerable distance from the property, was looking for assistance with this ongoing matter.
We signed a listing agreement to sell the property. Our intention was to give the seller the opportunity to purchase a smaller more manageable property that was also more geographically convenient for the seller. At Colton, TRG oversaw the required repairs, attended city inspections and closed numerous city cases. This process took place during the initial interest rate increases in the Spring of 2022 and we successfully worked with the seller to adjust the list price on the property to accommodate the subsequent shift in the market.
Shortly thereafter, thanks to the skillful work of the TRG marketing team, the owner of a neighboring business came forward with an offer at asking price-all cash, short close of escrow. We opened escrow and entered the due diligence phase where a discrepancy emerged with the reported rents. We resolved the discrepancy to the satisfaction of Buyer and Seller and closed the deal within the agreed escrow period and this specifically as the result of TRG helping the property owner not only to sell the property, but also in every way we could. Total Realty Group always goes above and beyond for each client.