One of my Repeat Clients from Out of State purchases Investment Properties in San Antonio TX to use as Rental Homes until he moves here and retires in approximately 5 years. His goal is to purchase Two Properties per year.
On Black Friday, I toured New Home Builder Subdivisions and found an awesome deal on a Brand new home in Bulverde Village that was a SPEC Home. This floorplan typically sells for $169,900 was being offered for $149,652 if Closed & Funded by December 31st, 2010. It had nice upgrades in it as well. Ceramic Tile floors in all wet areas, Neutral Colored Carpet, Downstairs Master Bedroom and Seperate Tub/Shower in Master Bath. If you use their Mortgage Company, they also would add an additional $2,000 Incentive towards closing cost to the Buyer. They even offered a nice Realtor Bonus on Top of it.
My client was already Pre-Approved with their Credit Union and was told they could close us by January 15th, 2011. My Buyer really wanted the additional $2,000, and I even offered a portion of my bonus to give him the additional $1,000 towards his closing cost if he would close by the end of the year. He was definitely motivated to go through the hassle of resubmitting all of his Financials, etc to the Builders Mortgage Company, and was offered a better rate and we just received the notification that his Loan is Approved and ready to close!
His Urgency to get his $3,000 Incentive also gave me a nice finish to 2010! We are both Mutually excited and he just found out that a potential Tenant is ready to occupy the property after closing. Win-Win or No Deal!