Getting to closing is the ultimate pleasure for many buyers, although it might rival walking in the door of your new home.
I have some good friends I recently helped to buy their first home. It was a major lesson in patience, among other things, over a long period of time.
20 offers later over 10 months (REOs, short sales, getting outbid many times even when at and above asking price, and having to withdraw from 2 transactions due to significant inspectional issues), major delays with the underwriter and then the PMI company, and some title issues that were overcome, we closed...about 4 weeks later than the projected date. Fortunately the REO lender was fine with this.
While the congratulations are about closing, they are also about the process, the transformation, and the perseverance of my clients. I suspect some other buyers might benefit from what my buyers learned.
I congratulate my buyers for:
Realizing that patience is indeed a virtue, especially when dealing with short sales. Were there moments of impatience and frustration? Indeed there were... many. But they hung in there
Asking lots of good questions about the process of buying, submitting an offer, short sales and REOs, disclosures, inspections, and so on. Some questions, like "why is the bank taking so long?" were unanswerable
Having a list of criteria for the home they hoped to buy, but a willingness to relent on some things when they realized they were not achievable, while sticking to their guns on the issues that were most important
Prompt follow-up on getting questions answered about their loan, completing and signing paperwork, providing information for offers, doing their own due diligence on communities they liked including environmental issues, crime stats, and local ordinances, and checking out homes and neighborhoods in many case before deciding to see the homes
Using technology to stay in touch and respond quickly, and keeping the paperflow moving quickly
Making prompt decisions, such as making immediate offers in very competitive situations
Keeping the end goal, closing on a home they loved, in mind and trying not to get derailed by small annoyances and delays. There were times when I know how hard that was
Of course they were also pre-approved, had great credit, could provide proof of funds for a substantial down payment, and were committed to the process.
Most of all, however, I am so pleased that my friends got their first home for a price they wanted, and in an area that works so well for them in many ways. I wish them years of enjoyment and fun in their new home.
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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