All Forum Posts by: Siyu Zheng

Hi Chen Zhou, congratulations and thank you for sharing the information. The unit looks great. I recently plan to add an ADU to my property. May I ask which builder you used? Thank you.

@Kevin Siedlecki Yes, she is the listing agent. Offer with no contingency is common here in the bay area. 

@Colton S. Yes, the agent told me that she is renting on Airbnb and she is doing well. I just went there once before putting the offer. At that time, the agent just finished reviewing the offer. She said she had five offers. The seller wanted to take the one with no contingency, but asked the buyer to add 10K. That buyer then exited. The seller turned to us and we signed the offer after a brief discussion without a second look at the house... 

@Colton S. Hi Colton, I can see the transmission tower when standing in the backyard of the house. I measured it on Google Maps. The concern is mostly health and resale value. I think some other buyers will also have this concern. Then if I sell it later, there will still be problems. Since I don't want to move in, if I buy it, it would be used as investment property. The problem is I'm not sure whether it's a good idea or not. 

Hi Kevin, thank you for your reply. Since the market is hot in CA, no contingency offer has a great advantage to stand out. As for me, it was suggested by my agent. The earnest money is $28,000, that's 3% of the purchase price. The seller is not willing to return the money. My agent said she could help me sell the house without commission. By the way, she is a dual agent. It's definitely an expensive lesson.

I recently presented an offer without any contingencies for a single family house in Sunnyvale California. After the seller signed the offer, I found a high voltage cable tower near the house (within 200 feet). I want to back out now. However, without any contingencies, it would be difficult to get back my earnest money. Here are two options given by my agent:

1. Seller returns half of the earnest money

2. Close the deal and rent it out in Airbnb. When the price goes up next March, sell the property. This will help avoid the loss of earnest money and might create some income. 

What I'm concerned is that the high voltage cabe might lower the resale value and I'm not sure whether the rent income could be able to cover all of the expenses.

Could someone tell which option is better?

Thank you!