Buying a house can be one of the most stressful experiences that anyone will ever go through. For many this stressful experience is even more stressful, because they are First Time Homebuyers, and have no idea of what to expect. Buyers will stress over:
- Whether their offer will be accepted or not.
- Obtaining a loan.
- Downpayment & Closing Costs.
- New monthly payment.
- Home Inspection.
- Where to obtaining Homeowners Insurance.
Selling a house is no piece of cake either, especially these days with all of the inventory out there, Sellers have lots to stress about. Sellers stress about:
- Whether they will get an offer on the house.
- Will the offer be near what they need to be able to purchase their new house.
- Will the house sell in time for them to have the money to buy the new house.
- Will the house pass the Home Inspections.
- Will the house appraise.
- Will they be able to get a mortgage on the new house.
- Will the Buyers be able to get a mortgage.
- Coordinating the move between houses.
They stress about stress and then stress some more. I see this stress every day, and it doesn’t matter what stage of the process they are in, they stress.
That is why it is so important for us to try to take away some of that stress, by holding their hand through every step of the process. We have to constantly reassure them, answer all their question, no matter how silly they might be, because to them it isn’t silly. I even attend my closings, not because I serve any useful purpose but it serves as a security blanket for them.
I said I would keep it simple and I have already gone on longer then I planned. If needed I will write another blog to go indeeper into my opinion about DPA's, but for now I thought that at least another view point should be put out there as to why DPA's might not be such a good thing.
I would expect that many of the comments on this post will be in defense of theDPA Programs, and while I recognize why some may support them, I do not share their opinion, and in the end that is what it all comes down to opposing opinions.
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
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