In Escrow in North Redondo Beach: 2707 Rockefeller Ln Unit C
My Buyer clients just had their contingent offer accepted on this new construction 3 on a lot attached townhouse in North Redondo Beach.
A few things about this sale are worth noting. First is that you can get a contingent offer accepted. Well actually we got it accepted on the second try but I have had others accepted right out of the gate.
In general, in order to get your contingent offer accepted, the down leg property should be in escrow and all the Buyer contingencies for that sale should be removed. In other words, you are just waiting for the escrow to close and the funds to be released.
Now sometimes offers are accepted before you get to that point. For example, my sale at 3005 Blaisdell Ave, we accepted an offer when the Buyer’s home was in escrow but those contingencies were not removed. That’s a little bit of a harder lift.
There is a misconception in the public mind that you have to always offer the list price or more to make up for the added contingency. I can tell you that the last 5 contingent sales I was involved with - on both sides of the transaction, the Sellers accepted the contingent offers and did not get full price. Presumably if Sellers did not have to accept contingent offers they wouldn’t so usually you will find those that do started out with too high of a price.
Another tip on getting your contingent offers accepted is that the sale and removal of the COP contingency should fall well within the usual timelines.
I want to talk about this property at 2707 Rockefeller because the very positive changes and advances in 3 on a lot construction is well worth noting.
Most 3 on a lots in Redondo Beach are 3 bedrooms, 2.5 baths with a reverse floor plan and well under 2000 Sq Ft. There are probably around 1000 of those +/- usually found on the streets just north and south of Artesia Blvd. Think Vanderbilt, Carnegie, Rockefeller, Grant, Mathews, Voorhees, Nelson etc. On the north side of Artesia Blvd the 3 on a lots are usually 2500 block and further east.
The newest iteration of these properties, built 2018 onward, are much different beasts than the older ones because they often are over 2000 Sq Ft and feature lofts or mezzanines creating a third floor. Wow.
Because the loft usually has a closet, these are often listed as 4 bedrooms.
Another twist is the use of outdoor decl space. Many have both a regular deck as you would expect plus a roof deck. The “C” or rear units additionally have a backyard. Double wow.
And needless to say, the finish work is extraordinary plus the breathtaking high ceilings, clerestory windows and other very contemporary features.
Here’s some pics of the unit my client is in escrow on.
So whether you need to sell your current home to buy your next or are interested in new construction in Redondo Beach, call me. Or if you are shy use the contact form.