5168 Knollwood Way, Woodland Hills, CA 91364 – Transaction Details
Date: July 2013
Property Type: 4 Bedroom, 2.75 Bathroom, 3,096 Square Foot Single Family Home
Purchase Price: $780,000.00
Year Built: 2002
Lot Size: 7,327 Square Feet
Description: Successfully challenged a woefully deficient appraisal to ensure the close of a well below-market deal on this 3,225 square foot, 4 bedroom home in Woodland Hills.
5168 Knollwood Way, Woodland Hills, CA 91364 – Transaction Summary
Working on a budget of $800,000.00, we located this property after the list price dropped from $839,000.00 to $799,000.00 after three weeks on the market. After some negotiation, which was eventually resolved by including a childrens’ playset in the deal, we were able to reach an agreement at $780,000.00 for this South of Ventura Boulevard property in Woodland Hills. During escrow, we successfully challenged an appraisal that was well off-target and based on properties that were not comparable to the target property. After overcoming that hurdle, our buyers were able to close on time on a deal that involved a less than 20% down payment. In the end, our first time home buying clients secured a great deal on a property that they will be able to raise their family in for many years to come.
For more information on this transaction or to discuss any other questions you may have concerning the Los Angeles real estate market, contact Esquire Real Estate Brokerage, Inc. at 213-973-9439 or email@example.com.