Los Angeles Home Selling and Buying FAQ

Pick one priority first: top price, speed, or certainty of closing, because they pull against each other. Then the sequence is pricing from the last 90 days of closed comps on your street, pre-listing prep and the disclosure package, professional photography and video, a launch timed to draw multiple offers in the first two weekends, offer review, and escrow with inspections and appraisal. In the City of Los Angeles you also need a LADBS 9A Residential Property Report and compliance with smoke alarm, carbon monoxide alarm, seismic gas shut-off valve and water conservation rules before close.

Most correctly priced Los Angeles homes go into escrow within two to three weeks and close 30 to 45 days later, so plan on roughly 45 to 75 days from launch to closing. Homes priced above the comparable sales sit longer and usually close for less than they would have with an accurate price at launch. Prep before launch typically adds one to three weeks depending on condition.

Late February through May is the strongest window for most Los Angeles neighborhoods, with a second wave from after Labor Day through October. Family neighborhoods peak in spring because buyers want to close before the school year. Condos and hillside view homes are less seasonal. Mid-November through early January is the slowest period, though serious buyers who are out in December tend to be motivated.

Sell when the sale serves your plan, not when a headline says so. Waiting makes sense if you are mid-renovation, have a tenant whose lease ends soon, or need to establish the two-year primary residence period for the capital gains exclusion. Selling now makes sense if you are carrying two homes, the house is in its best condition, or inventory in your neighborhood is thin. James Malcom will walk through both scenarios with current comps so the decision is based on your numbers.

No law requires one, but a listing agent earns the fee in three places where Los Angeles sellers most often lose money: pricing against live comps, controlling the disclosure package so the deal does not unravel in escrow, and negotiating repairs and appraisal gaps. Selling on your own means handling the 9A report, the state and city disclosure set, buyer-agent negotiations and marketing exposure yourself, and pricing conservatively because you will not see competing offer data.

Ask for recent closed sales in your neighborhood, the exact pricing method they will use, what the marketing plan includes (professional photography, video, drone, staging guidance, launch timing), how often you will get reporting, and references from the past year. Then compare their recommended list price to the comps they show you. A high number with no comps behind it is a listing tactic, not a plan.

Fix what a buyer's inspector will flag as a safety or habitability issue and fix what photographs badly. Skip major renovations you cannot recover at sale. Paint, flooring refinish, lighting, landscaping cleanup and clearing open permits return more than kitchens and bathrooms in most price ranges. California requires you to disclose known material defects whether or not you repair them, so repairs are a pricing and marketing decision, never a way around disclosure.

Yes. Selling as-is means you will not make repairs or give credits, but it does not remove your duty to disclose known defects on the Transfer Disclosure Statement and Seller Property Questionnaire. As-is homes draw investors and renovation buyers; the trade is a lower price and often a faster, cleaner escrow. The City of Los Angeles retrofit items (smoke and CO alarms, seismic gas shut-off, water conservation) still have to be handled unless the buyer signs the retrofit responsibility agreement.

Stage if the home is vacant or the furniture works against the floor plan. Occupied homes usually do better with editing: remove a third of the furniture, depersonalize, clear counters and closets. In Los Angeles the photos and video are the first showing, so the standard is what reads well on a phone screen, not what is comfortable to live in.

Yes, but the rules depend on the property. Units covered by the Los Angeles Rent Stabilization Ordinance or state just-cause rules cannot be emptied just because you are selling; the buyer inherits the tenancy and the rent. Owner move-in and Ellis Act removals have strict notice and relocation requirements. Many sellers get the best result by selling to an investor with the tenant in place or negotiating a voluntary move-out with relocation assistance before listing.

Confirm how title passes first: a trust usually allows the successor trustee to sell without court involvement, while a house held only in the decedent's name may need probate. Inherited property generally receives a stepped-up tax basis to the value at date of death, which often reduces capital gains dramatically. Under Proposition 19, the property tax base usually resets unless a child moves in as a primary residence within one year. James Malcom coordinates with the estate attorney, orders the 9A report, and handles the clear-out and prep so out-of-town heirs do not have to.

Agree in writing, or through counsel, on who has authority to sign the listing agreement, how the list price and offers are decided, who pays for prep, and how proceeds are split at closing. A neutral listing agent who reports identically to both parties keeps the sale from becoming another dispute. Escrow can hold disputed proceeds until the settlement is final.

An off-market sale is a sale without MLS exposure. It offers privacy and speed, but it almost always costs the seller money because there is no competition for the home. Consider it only when privacy outweighs price, such as a high-profile owner or a family situation. Otherwise a short pre-marketing period followed by a full MLS launch captures the best of both.

Diagnose the cause in this order: price, presentation, access, exposure. In Los Angeles the cause is price in the large majority of cases, usually a list price set above what the last 90 days of closings support. The fix is a decisive reduction to a number that creates competition, paired with new photography if the home has changed. Relisting after a pause with a fresh price and marketing works better than a slow series of small cuts.

Budget for brokerage commission, escrow and title fees, the county documentary transfer tax, the City of Los Angeles transfer tax, any Measure ULA tax if your sale price is above the threshold, retrofit and 9A report costs, and any repairs or credits you agree to during escrow. Prep costs such as paint, staging and cleanup come on top. James Malcom provides a net sheet with every pricing conversation so you see the proceeds, not just the list price.

Measure ULA is a City of Los Angeles transfer tax on higher-value property sales, charged on the entire sale price once the price crosses an annually adjusted threshold. It applies only to property inside City of Los Angeles limits, not to separate cities such as Beverly Hills, Santa Monica, Burbank, Calabasas or West Hollywood, and not to unincorporated county areas. Confirm the current thresholds and rates with the City Finance Office before you set a list price, because pricing just under a threshold can net more than pricing above it.

Commissions are negotiable and set in the listing agreement. Since the 2024 rule changes, the listing agreement covers the listing side, and compensation for the buyer's agent is negotiated separately, either offered by the seller as a concession or paid by the buyer. Offering buyer-agent compensation remains common in Los Angeles because it widens the buyer pool, but it is a decision made with your agent based on the price point and competition.

If the home was your primary residence for at least two of the last five years, up to $250,000 of gain is excluded for a single filer and $500,000 for a married couple filing jointly. Gain above that is taxed at federal and California rates. Rental and investment property does not get the exclusion but may qualify for a 1031 exchange. Keep records of improvements, because they raise your basis and reduce the gain. This is general information, not tax advice; confirm with your CPA.

Proposition 19 lets homeowners who are 55 or older, severely disabled, or victims of wildfire or natural disaster transfer their Proposition 13 property tax base to a replacement home anywhere in California up to three times. It also narrowed the parent-to-child exclusion, so an inherited home usually gets reassessed unless the child makes it a primary residence. Both rules change the math on selling and buying again in Los Angeles.

Sellers in Los Angeles County customarily pay the owner's title policy, half of the escrow fee, the county transfer tax, the city transfer tax where one exists, their share of prorated property taxes and HOA dues, any HOA transfer and document fees, and the natural hazard disclosure report. Custom can be negotiated in the purchase agreement.

Los Angeles County charges a documentary transfer tax of $1.10 per $1,000 of price, and the City of Los Angeles adds its own base tax of $4.50 per $1,000. Sales above the Measure ULA thresholds pay the additional ULA tax on the entire price. Separate cities such as Santa Monica and Culver City have their own city transfer tax schedules.

A net sheet is a line-by-line estimate of what you walk away with at closing: sale price minus loan payoffs, commission, transfer taxes, escrow and title fees, retrofit and report costs, credits and prorations. Ask for one at three price points before you choose a list price. James Malcom includes a net sheet with every valuation.

Request a free valuation from a local listing agent who will pull closed sales from the last 90 days on your street and in your pocket of the neighborhood, then adjust for lot, condition, upgrades, views and school boundaries. Automated estimates cannot see the inside of your home or which side of the boulevard you sit on, and in Los Angeles those details swing values by hundreds of thousands of dollars. James Malcom delivers a pricing range within one business day and a full comparative market analysis after a short walkthrough.

Useful as a rough starting point, unreliable as a list price. Automated models struggle in Los Angeles because adjacent homes vary widely in condition, lot usability, views and permitted square footage, and because many neighborhoods have few truly comparable sales in a given quarter. On hillside, view and remodeled properties the error can be large in either direction.

No. In Los Angeles the first two weekends generate most of the buyer attention a listing will ever get, and overpriced homes burn that window. Homes that launch at a sharp price draw multiple offers and are bid up; homes that launch high sit, get reduced, and close below what they would have with an accurate price from day one.

A CMA is the listing agent's written analysis of recent closed sales, pending sales and active competition that are genuinely comparable to your home, with adjustments for differences in size, lot, condition and location. It produces a recommended list price range and a likely sale price range. It is more reliable than an appraisal for pricing because it accounts for current buyer behavior, not just past closings.

Permitted square footage, a usable yard or view, updated kitchens and bathrooms, a desirable school boundary, parking, and clean systems (roof, electrical, plumbing, sewer line). Unpermitted additions subtract value or stall escrow. Accessory dwelling units add value when permitted and rentable. Curb appeal and interior presentation shift the price at the margin more than most owners expect.

Not usually. If the buyer's lender appraises below the contract price, the options are a price reduction, the buyer covering the difference in cash, splitting the gap, or a reconsideration of value with better comps. Well-prepared listing agents supply the appraiser with the comps and the upgrade list at the appointment, which prevents many low appraisals in the first place.

The core set is the Transfer Disclosure Statement, Seller Property Questionnaire, Natural Hazard Disclosure report, lead-based paint disclosure for homes built before 1978, Megan's Law notice, water heater and smoke detector compliance, and any HOA documents. In the City of Los Angeles you also provide the LADBS 9A Residential Property Report. You must disclose known material facts even if they are not on a form, including past repairs, leaks, unpermitted work and neighborhood issues that affect value.

The 9A Residential Property Report is a City of Los Angeles document from the Department of Building and Safety that lists the property's permitted use, zoning, open permits, code violations and the retrofit requirements that must be met before sale. It is required for sales inside City of Los Angeles limits. Order it as soon as you decide to sell, because open permits or violations on the report can take weeks to clear.

The City of Los Angeles requires working smoke alarms, carbon monoxide alarms, a seismic gas shut-off valve, low-flow toilets and showerheads, and an impact glazing or safety glazing compliance where applicable. The seller certifies compliance on the 9A report unless the buyer agrees in writing to take responsibility. Retrofit companies handle the whole list in a day.

Most financed purchases close in 30 to 45 days. Cash purchases can close in 10 to 21 days. Within escrow the buyer's inspection contingency usually runs 7 to 17 days, the appraisal contingency about 17 days, and the loan contingency 17 to 21 days, all negotiable in the purchase agreement.

A general home inspection almost always, plus a sewer line camera inspection on older homes, a termite inspection, and often a roof, chimney, foundation or geological inspection on hillside properties. A pre-listing inspection lets you fix or price around issues before a buyer has leverage and a deadline.

Escrow opens, the buyer deposits earnest money, and the contingency clocks start. You deliver disclosures within the agreed period, the buyer inspects and may request repairs or credits, the lender orders the appraisal, and once contingencies are removed the deal is firm. Loan documents are signed a few days before close, funds are wired, and the deed records with the county, which is the moment the sale is final.

Yes, while contingencies are in place, and they get their deposit back. After contingencies are removed in writing, a buyer who cancels risks the earnest money deposit, typically 3 percent of the price under the standard liquidated damages clause. Managing contingency removal dates is one of the listing agent's most important jobs.

Built-in items such as ovens, dishwashers, built-in microwaves and mounted fixtures are presumed included. Freestanding refrigerators, washers and dryers are excluded unless the purchase agreement includes them. State clearly in the listing what stays and what goes to avoid a dispute at the final walkthrough.

Plan for the down payment (as little as 3 to 5 percent on conventional loans, 3.5 percent FHA, 0 percent VA, though 10 to 20 percent is common in competitive price ranges), closing costs of roughly 2 to 3 percent of price, reserves the lender wants to see, and a cushion for immediate repairs and moving. The down payment is the headline number; the reserves and closing costs are what catch first-time buyers off guard.

Pre-qualification is an estimate based on what you tell a lender. Pre-approval means the lender has verified income, assets and credit and issued a conditional commitment. In Los Angeles multiple-offer situations, sellers only take pre-approved buyers seriously, and a fully underwritten pre-approval is stronger still.

Price is the biggest lever, but terms win ties: a larger earnest money deposit, shorter or removed contingencies where it is safe, an appraisal gap commitment, flexibility on the seller's closing or rent-back timeline, and a clean, complete offer package with proof of funds. A buyer's agent who talks to the listing agent before writing learns what the seller actually values.

Escrow is the neutral third party that holds the buyer's deposit and funds, collects documents from both sides, follows the purchase agreement's instructions, and records the deed when every condition is met. In Southern California escrow companies, not attorneys, run closings. Escrow fees are typically split between buyer and seller.

Condos offer a lower entry price and less maintenance but carry HOA dues, rules, special assessment risk and slower appreciation in most Los Angeles submarkets. Single-family homes cost more up front, demand maintenance, and historically appreciate faster, with land value and ADU potential as upside. Read the HOA budget, reserves and litigation history before buying any condo.

Check the geology report and any history of slope movement, retaining wall condition and permits, fire hazard severity zone status and insurance availability, street access and parking, sewer versus septic, and whether additions were permitted under the Baseline Hillside Ordinance. Budget for higher insurance and maintenance. Views carry real value, so confirm what can be built on neighboring lots.

Yes, and you inherit the lease and the rent. If the unit is covered by the Los Angeles Rent Stabilization Ordinance, rent increases are capped and eviction requires just cause, with owner move-in rules and relocation payments. Verify the rent roll, the registration status with LAHD and any pending complaints before removing contingencies.

James Malcom is a Los Angeles Realtor and listing agent, California DRE license number 02188877, brokered by Link Brokerages, Inc. He leads The Malcom Group from offices in Hollywood, Encino and Woodland Hills and represents sellers and buyers across the San Fernando Valley, Calabasas and Hidden Hills, the Conejo Valley, Hollywood, Central Los Angeles and the Westside.

The San Fernando Valley from Sylmar to Woodland Hills, Calabasas and Hidden Hills, the Conejo Valley communities of Agoura Hills, Westlake Village and Thousand Oaks, Hollywood and the Hollywood Hills, Central and Northeast Los Angeles, Downtown, South Los Angeles and the Harbor, and the Westside from Beverly Hills to Malibu. The site has a neighborhood guide for more than 200 Los Angeles communities.

Yes. James Malcom holds California Department of Real Estate salesperson license number 02188877 and works under the brokerage Link Brokerages, Inc., DRE number 02126177. License status can be verified on the DRE public license lookup.

Every listing gets a pricing plan built from the most recent comparable closings on that street, professional photography, cinematic video, drone footage where views matter, twilight shots for view homes, staging guidance, a launch timed to draw multiple offers in the first two weekends, and weekly reporting to the seller. Marketing targets the specific buyer pool for the neighborhood, including entertainment-industry and out-of-state buyers where relevant.

Call or text (310) 595-0915, email info@themalcomgroup.com, or use the contact form on this site. Offices are at 6200 Hollywood Blvd, Los Angeles 90028; 17547 Ventura Blvd, Encino 91316; and 6263 Topanga Canyon Blvd, Woodland Hills 91367. Replies come within one business day.

Yes. The practice is listing-focused, but James represents buyers across the same areas with pocket listings and pre-market previews, a straight read on price and condition, help lining up financing, and offer strategy that wins in competitive situations without overpaying.

A no-obligation estimate of what your home would sell for today, built from recent closed sales on your street and adjusted for your home's condition, upgrades, lot, views and school boundary. You receive a pricing range within one business day; a short walkthrough turns it into a full comparative market analysis with a recommended list price, a net sheet and a marketing plan.