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Real estate and homes for sale in the South Bay

Homes in the Beach Cities and South Bay

What Does Contingent Mean on a House Sale?

September 17, 2023 by admin

What Does Contingent Mean on a House Sale?Vista Sothebys for sale sign

September 13, 2023 by Matt Goeglein at Fidelity National Title

In the context of a house sale, “contingent” typically means that the sale of the house is dependent on certain conditions being met. These conditions could include things like the buyer securing financing, the completion of a home inspection, or the sale of the buyer’s current home.

For example, if a buyer makes an offer on a house and the offer is accepted by the seller, the sale may be contingent on the buyer obtaining financing within a specified period of time. If the buyer is unable to obtain financing, the sale may fall through.

Another common contingency is a home inspection. If the inspection reveals significant issues with the property, the buyer may have the option to renegotiate the terms of the sale or back out of the deal altogether.

Contingencies are designed to protect both the buyer and seller in a real estate transaction. They give the buyer an opportunity to ensure that the house is in good condition and that they can obtain financing, while also giving the seller some assurance that the sale will go through if the conditions are met.

Types of Home Contingencies

There are several types of contingencies that can be included in a home sale contract. Here are some of the most common.

Financing contingency: This contingency specifies that the sale of the home is contingent on the buyer obtaining financing. If the buyer is unable to secure financing within a specified timeframe, the contract may be voided.

Appraisal contingency: This contingency specifies that the sale of the home is contingent on the home appraising for at least the purchase price. If the appraisal comes in lower than the purchase price, the buyer may have the option to renegotiate the price or back out of the deal.

Inspection contingency: This contingency specifies that the sale of the home is contingent on a satisfactory home inspection. If the inspection reveals significant issues with the property, the buyer may have the option to renegotiate the terms of the sale or back out of the deal.

Sale contingency: This contingency specifies that the sale of the home is contingent on the buyer selling their current home within a specified timeframe. If the buyer is unable to sell their current home, the contract may be voided.

Title contingency: This contingency specifies that the sale of the home is contingent on the seller having clear title to the property. If there are issues with the title, the contract may be voided or the seller may need to take steps to clear the title before the sale can proceed.

It’s important to note that contingencies can vary depending on the specifics of the contract and the state or region where the sale is taking place. It’s always a good idea to consult with a real estate professional or attorney to ensure that your contract includes the appropriate contingencies for your situation.

Filed Under: First Time Home Buyers, Helpful real estate information, Home Sellers, Homebuyers, Keith Kyle, Keith Kyle realtor, Real estate tips, Sotheby's real estate, South Bay, Vista Sotheby's International Realty Tagged With: contingent offers, inspection contingency, loan contingency

Top Home Sale of the Year in Hermosa Beach – 2805 Tennyson Place

January 11, 2022 by admin

While we review many of the South Bay real estate highlights for 2021 today we wanted to show you the top home sale in Hermosa beach for the year.  Surprisingly the highest price of the year was not a beachfront home on the Hermosa Beach Strand in the sand section.  The top honor went to a spectacular hillside estate that offered the best of luxury living.  This definitely wasn’t the highest priced listing as several homes on the beach had much higher listing prices but didn’t sell last year.

Located at 2807 Tennyson Place, this luxury estate was similar to something you would find in the Manhattan Beach hill section.  Offering huge ocean views, a massive 20,000+ foot lot, a true private estate feel with gated entrance and luxuriously long driveway.  Indoor and outdoor spaces were equally spacious and inviting.    The main home featured 4 bedrooms and 6 baths as well as a fully functional 2 bedroom 2 bath guest home.  The property was originally listed for $16,950,000 and sold  in February for $15,800,000 after 84 days on the market.

View the MLS listing details below.

2807 Tennyson Basics

  • 6 bedrooms
  • 8 bathrooms
  • 6,392 square feet (BTV)
  • 20,160 foot lot
  • Built in 2009
  • Listed for $16,950,000 – Sold at $15,800,000

Contact Hermosa Beach real estate specialist Keith Kyle with Vista Sotheby’s International for information on similar homes

2805 Tennyson, Hermosa Beach CA 90254 – Sold for $15,800,000


Listing courtesy of Courtney Lingle – The Agency 424-835-7230

Filed Under: Helpful real estate information, Hermosa Beach real estate, Hermosa hill section, Hermosa valley homes, Keith Kyle, Keith Kyle realtor, Ocean view homes, Sotheby's real estate, The Strand, Vista Sotheby's International Realty Tagged With: 2021 highest price home in hermosa, 2805 tennyson place hermosa beach, hermosa beach realtor keith kyle, keith kyle, top home sale in hermosa beach, vista sothebys

Hermosa Beach Real Estate Market at a Glance – November 2021 Recap

December 15, 2021 by admin

Hermosa Beach once again had an impressive month for home sales and home prices.   There were 19 homes that closed escrow during November  compared with only 13 a year earlier.  The median home price was an impressive $2,000,000 although that was actually a slight drop from November 2020.  Homes averaged only 20 days on market before going into escrow.  Take a look below or  view the homes that sold in Hermosa Beach during November 2021

The Victorian Hermosa Beach

View the current homes for sale in Hermosa Beach

Filed Under: Helpful real estate information, Hermosa Beach real estate, Hermosa hill section, Hermosa sand section homes, Hermosa valley homes, Real Estate Tagged With: hermosa beach home prices, hermosa beach homes, hermosa beach homes for sale, hermosa beach real estate market

California Statewide Eviction Moratorium to End

September 24, 2021 by admin

From the CAR website:

On September 30, the statewide eviction moratorium under the COVID-19 Tenant Relief Act (CTRA) is due to end. However, the law will not simply return to its pre-pandemic form. Instead, a new law, the COVID-19 Rental Housing Recovery Act, will take its place. Here are the key differences in practices and procedures.

  • Exemptions for SFP and new construction to the just cause eviction rules return. Beginning October 1, the standard exemptions to the just cause eviction rules return, the most significant ones being for single family properties and new construction properties built within the last 15 years.
  • For rent due prior to October 1, 2021, the 15-day notice is still required (but not for rent due prior to March of 2020). To avoid confusion after October 1, if a tenant owed COVID rent from before October 1, 2021, it is highly recommended to use the appropriate forms to demand the rent now.
  • Special 3-day notice beginning October 1, 2021, through March 31, 2022, and the requirement of applying for Emergency Rental Assistance. Beginning October 1, a landlord may demand the full amount of rent using a special 3-day notice to pay rent or quit for rent that became due on or after October 1. However, the new notice requires the landlord to apply for emergency rental assistance. This special 3-day notice will be required for all rent due until March 31, 2022.
  • Tenancies commencing October 1, 2021, are not subject to the special 3-day notice. If the tenancy has commenced on or after October 1, 2021, then neither the special 3-day notice nor the requirement to apply for emergency rental assistance is required. Instead, on that date landlords can return to using the traditional 3-day notice to pay rent or quit.
  • On November 1, 2021, the landlord may collect unpaid COVID rent due from March 2020 through September 2021. Beginning November 1, 2021, the landlord may initiate a legal action to recover the unpaid COVID rent. This includes going to small claims court to recover any amount of COVID rental debt even if it is otherwise over the small claims court limits.

The above explanation is a simplified version of a surprisingly complicated procedure. C.A.R. intends to update its landlord/tenant forms where necessary. This will include:

  • The introduction of the special 3-day notice to pay rent or quit for rent demanded from October 1, 2021, through March 31, 2022
  • The reintroduction of the standard 3-day notice to pay rent or quit (for tenancies commencing after October 1, 2021)
  • The removal of the “Notice of Termination of Tenancy COVID Tenant Relief Act” (form NTT-CTRA)
  • The return, in its pre-pandemic form, of the “Notice to Terminate Tenancy” (form NTT)

Even though C.A.R. may make forms available for landlords to use, all persons are strongly urged to work with their own landlord/tenant attorney specialist before providing these notices, especially if their ultimate aim is to evict through a court procedure.

Filed Under: Helpful real estate information, Real Estate, Real estate tips Tagged With: rent moratorium

Welcome to Summer in the South Bay!

June 29, 2020 by admin

While it would be nice if the weather cooperated we still wanted to welcome summer to the South Bay, Beach Cities and Palos Verdes! Enjoy and stay safe!

From realtor Keith Kyle and Vista Sotheby’s International Realty we wanted to wish you a very happy summer.

Filed Under: Helpful real estate information, Holidays, Just for fun, Palos Verdes, Palos Verdes Estates, Rancho Palos Verdes, South Bay, South Bay Activities, Vista Sotheby's International Realty Tagged With: south bay summer, summer in the beach cities

Real Estate Update for South Redondo Beach – Trends and Statistics

April 8, 2020 by admin

Keep up with the real estate market in South Redondo Beach.  South Redondo, or homes in the 90277 zip are generally more expensive than the equivalent homes in North Redondo…..why?   The primary reason is location as South Redondo extends all the way to the beach along the Esplanade, whereas homes in North Redondo are a car ride or longer walk/bike ride from the beach.  Take a look below at the most recent real estate trends and statistics for only the 90277 zip in South Redondo Beach.

View the current homes for sale in the 90277 zip code area of South Redondo Beach CA

The chart below displays the number of rcent active homes for sale (light green) pending sales (red line) and closed home sales (dark green)

The chart below shows the average price per square feet for all types of homes in 90277

 

The chart below shows average days on market as well as the % that the homes sold compared with the asking price.

 

The chart below shows the average list price in South Redondo Beach and the average sales price.

 

The chart below shows the months of inventory for all home types in South Redondo Beach based on the recent number of closed home sales

 

 

Filed Under: Helpful real estate information, Home Sales, Home Sellers, Market update, Redondo Beach, South Redondo Tagged With: 90277 home sales, 90277 homes for sale, 90277 real estate, south redondo beach, south redondo beach real estate market, south redondo homes, south redondo real estate, south redondo real estate statistics, south redondo real estate trends

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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. The information being provided by CRMLS & CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

 

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