Aug. 3, 2018
9335 Weeping Water
The journey of purchasing your first home is such an exciting experience with a little bit of uncertainty. As a buyer, you start to think if you are doing the right thing both personally and financially. You start to think of all the ways the deal will not go through or the fact that you might never find what you're looking for. Also, consider the fact that the market is low in inventory and multiple offers are happening left and right.
By the way, Congratulations to my clients, Isaiah and Felicia on the purchase of their first home. It took us quiet awhile to find the home they were looking for. The story began last year when Isaiah and I had a quick conversation about them purchasing and they wanted me to represent them. A few months later, which was January, they were almost ready... meaning they are ready but their lease isn't up until August.
So, as first time home buyers, we started the "Pre-Qualification" with my lender whom I dearly trust and closed many transactions with. Long story short, this was the last transaction I will have with this lender whom I trusted.
So we started the pre-qualification process, both Isaiah and Felicia qualified with flying colors. Our buying power was high but even though it was high, we only wanted to be in a specific price range. This price range was a challenge in the market, $250,000-$290,000. At $280,000, bidding wars were all over. Consider the fact that we wanted to be in South West.
We started viewing properties just to see how the market is. Every Saturday from January until June we viewed properties even though we couldn't make any move due to the lease. This was painful for both my clients and I because we started seeing homes that we love and we couldn't put in an offer. We could have put offers in and negotiated the closing date, closing terms etc. to benefit my clients but how the market is and what we were going to ask for just didn't make sense and wouldn't make sense in the seller's eyes. Negotiating in this market was challenging specially for what we wanted.
Then we got lucky! Their landlord decided to sell the house they are leasing and set them free pretty much. The landlord told them that they are free from any attachment from the contract as log as they easily cooperate with the sale process. That was it! The fire was lit again and we were so motivated to find THE HOUSE.
After many showings, multiple offers, and failed offers, I figured out how to beat the competition. I figured out how to make my offer stand out in a bidding war market. Take a big RISK!
We viewed the property on Weeping Water. My clients loved the home and it met almost everything in their check list. And now time to write the offer... I took the risk, I put my money where my mouth is. Unfortunately I cannot share exactly what needed to happen but we submitted the offer, Opened Escrow, Property Appraised, Closed the property.
Oh yeah, I was able to negotiate a fridge, washer and dryer, and a tv, last minute.
Buying your first home could be tough, specially in this current market. People need strong agents to lead them to the finish line. Who you work with Matters!
The National Associations of Realtors conducted a study that the average agent only sells four homes...... Who you work with matters. While the average closes four, I've closed eighteen transaction from January to now, July.
Hire a Realtor who will work for you and will commit fully even if you are not ready yet. Find someone who will put your goals first before anything else. There are 19,000 real estate agents in town... and who you work with matters!