- Three Clients this week who want to buy.
- Each Has a House, that they'd have to bring money to close on if they decided to close;
- All 3 Clients have the money to bring and all have perfect credit.
Three Different Decisions are the Same as the Story of the Three Little Bears.
ALL TRUE STORIES!!!
1) THE FIRST BEAR WAS TOO BIG - is selling his house for a loss. He doesn't want to buy a new home. 
He's between relationships and has a lot of money to burn. However, He is also mobile and between jobs. He has made the conscious decision to call the mortgage company and give them a deed in lieu of foreclosure. He has perfect credit and he's perfectly ok wiht ruining the credit just so that he doesn't have to bring money to closing. Don't ask....I've already had the conversation with this intellectual client, but he's determined.
2) THE SECOND BEAR WAS TOO SMALL - Has enough money to sell the home for a bit of a loss, and has the money to buy a new home, but, at the end of the day, have decided to reject the offer on their home that's for sale. They have their eye on a home, but, in laymen's terms have said uh, uh......
3) THE LAST BEAR WAS JUST RIGHT!!!!!! This borrower was like the first two. Selling a house for a loss and wanting to buy a new one. However, unlike Bears number 1 and 2, She wanted to proceed because
SHE GOT IT!!!!!!
She is willing to bring say $30,000 to closing to sell her home.
BUT HE
RE'S THE GOLDMINE FOR HER!!!!
The loss that she suffers in selilng her home, allows her to realize an even great gain on her new home purchase.
For Example,
She could sell her $300,000 home and have to bring in $30,000 to sell. She then will go buy the home that was listed for $650,000 in Fall of 2010 for just over $500,000 now. The has picked up about $150,000 on the new home. Take away the loss of $30,000, she's still up $120,000. Plus she gets write off for selling her home at a loss....off of her basis.
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