I was working with a First Time Homebuyer searching for a home in Melbourne, Florida. They were a young couple who had made great financial decisions along the way were were ready to pull the trigger on a home. After an initial Needs Assessment meeting we determined that they were a fit for the First Time Home Buyers program.
Here in Brevard County, there are a number of programs available. The City of Melbourne, the City of Palm Bay, the City of Titusville and Brevard County each have their version of downpayment assistance for First Time Home Buyers. In addition to these programs, we also have the $7500 or $5000 bond that is available through designated lenders.
We set up a personalized MLS website for them that automatically populated itself with listings matching their criteria. We had a solid pre-approval letter from a local lender who was experienced in working with our First Time Home Buyer Programs and got them signed up for the mandatory class with Community Housing Initiative. I happened to be teaching the class that month so everything was going perfectly.
We looked at about 20 homes before the found “the home”. They loved it and then the wife looks at me and says, “My dad, would like to see it before we sign anything.” The husband gives me this look that says he is NOT down with dad coming but apparently he has no choice in the matter. I welcomed the opportunity to show it, under one condition. They go through my parent training course. Been down this road before - it’s better when kids are prepared.
- Parents want to feel like they are protecting you. (They point out flaws)
- Parents want to show you their “wisdom” and “knowledge” (They tell you horror stories)
- They may simply not like the home.
When this happens, discretely look at me and wink. Your parents are just being parents. Hug your dad and thank them for his input. Keep your focus. You’re making an offer on this home because:
- The location is right.
- The layout is right.
- The price is right and the risk is manageable.
Remember, you’ll be living here (not your parents).
The parents performed beautifully and it was all my buyers could do not to openly laugh a few times. Her father caught a significant feature I missed and actually helped seal the deal. All in all, I ended up with a very happy First Time Homebuyer who purchased a beautiful home in Melbourne, Florida.