In this business, no two days are the same. In fact, no two anythings are the same. I might have two BUYERS looking to purchase a home in the same town in the same price range with the same type of financing. However, their specific needs and motivations will be different as will their tastes, negotiation styles, and comfort levels with how to interact with SELLERS. Of course, I might also have Sellers who have different views of how to interact with Buyers. The ups and downs of the market are full of unexpected twists and turns.
Recently, I have been working with one family that has been working to rebuild their credit after a fairly typical situation in the last five years. They had to SHORT SALE a home after a job change. So what are the Steps to Home Buying Readiness for this family? First, I introduced them to an amazing Mortgage Development Officer who was able to assess their current credit rating. Next, she set them up on a specific savings plan to rebuild their credit and create a savings account for a down payment. After they paid down their debt, built up a savings account, and increased their credit score, we began looking for homes in their price range and in their desired neighborhoods.
One thing was clear, some homes had listing details that didn't exactly match the homes... such as one listed as having a legal accessory apartment which the town tax card had identified as an in-home office, or the one with 4 bedrooms, in which one was a small room in the basement with no windows. Some were listed as being in move-in condition and they were... if you looked past the sagging wall-paper and peeling paint. But ultimately, we found a home in their price range, in good condition, and available. Offer successfully negotiated, we're moving through the home inspection process and looking forward to closing. Keep your fingers crossed for us, folks.
It's a wild roller-coaster, this career I have in Real Estate, and I love it. Do you love your career, too?
