"SORRY, WE CAN'T HELP YOU. GOOD LUCK."

"SORRY, WE CAN'T HELP YOU.  GOOD LUCK."

SOMETIMES YOU JUST CAN'T HELP.  Those were the last words of a conversation I had with a "prospective home buyer" last evening.  I received a telephone call from a lady at about 6:00 p.m. Sunday.  That's not the way I usually end a conversation with a consumer.  Telephone calls from consumers are welcomed and usually generate conversations about the area, homes for sale, price ranges, financing, transportation, and more, whatever comes up in the conversation relating to home buying and the consumer needs or questions.

LOOKING FOR "PROGRAMS".  The conversation with this particular consumer started out with her questions about "down payment and closing cost assistance programs" in an area in my market.  This consumer had compiled a list of potential "programs" that would subsidize her purchase.  Not a problem for me because I spend a lot of time staying on top of local home buyer assistance programs.  I went through the programs for which she might qualify with a general description of the criteria. 

After about 15 minutes, the conversation turned to actual listings of homes for sale.  This consumer wanted to keep her mortgage payments to the same amount or less of her present rent payments.  That would qualify her for a price range of about $175,000.  "There are several homes in that price range in the area you inquired about".  

"Wait" she said.  "I don't want to pay that much.  What about the homes listed on your web site for $50,000 or $60,000??  I'm looking for a real deal. "

IS SHE LOOKING FOR A HOME OR A DEAL?  I explained to her that homes in the price range of $50,000-$60,000 were generally only suitable for rehabilitation or cash investor buyers.  She then said in an accusatory tone, "Well you have them on your web site."  To which I explained that ALL homes listed for sale are in the search database of homes for sale on my web site.  I also explained that many homes listed for sale are suitable only for cash or investment buyers because they need extensive repairs and financing under the various programs is difficult if not impossible. 

I get calls from many consumers who wrongly believe that they can get a "steal" on a property these days, get it financed through a "program" and have a lovely home with no repairs at a very low price and no buying competition.  WRONG!!!  Usually, once we examine a listing or two or go through the criteria for the first time home buyer programs, they understand that they don't qualify.  I have a lot of patience with consumer callers because I know that they truly do not understand the real estate market. 

"WELL, WHAT ABOUT THIS ONE?"  She gave me an MLS# which showed a listing of a $59,900 home for sale that clearly stated in the BROKER/AGENT REMARKS "Cash or 203(k) only".  Once I explained that these properties could not be financed under simple financing models, she then said.  "Well, what if I wanted to purchase a home listed for $80,000 and put down $40,000?"

To which I replied, "If you have that kind of cash, I don't know whether or not you'd qualify for the 'first time home buyer program about which you inquired."  Truth is, I don't know, since the question has never been presented. 

HER TONE BECAME MORE ARGUMENTATIVE, giving me a clue that this telephone conversation had turned into a debate replete with hypotheticals.  Since I work in the real world and don't deal with hypotheticals, I decided to bring the telephone conversation to an end. 

"I DIDN'T SAY I HAD $40,000.  I SAID WHAT IF I COULD PUT $40,000 DOWN?", she said with more than enough antagonism.  It appeared that this caller was simply going to challenge every explanation that I gave her for why homes in extremely low prices are not candidates for subsidized financing, first time home buyer programs where property condition dictates "cash only or rehab loans". 

It also appeared that the conversation had turned from the difficult to the impossible.  So, I just replied,

"SORRY, WE CAN'T HELP YOU.  GOOD LUCK." 

Later, there was a message from the same caller advising that I should "get out of the business" since I have a bad attitude. 

As Kenny Rogers said, you just have to know "when to hold them and when to fold them".