RealestateGuy helps couple buys Cottage Grove home with $1650

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Real Estate Agent with Powered by: eXp Realty 50781-90

$1650  Down?  To buy a home in Madison Wi?

Yes even now it can be done,  buying a home with little money down is possible. 

 

Here is a rundown on a textbook case of a couple buying a home.   Making a great choice of home in a very economical amount of time.  And getting great financing.  Let’s call the couple Holly and Evan.

 

Holly and Evan came to us as a referral from a very respected source. After a brief phone interview and being approved with our very own lender, they came to our office for step 1 of our 4 step process.

  

Step 1: We spent 1 and ½ hours going over, the home buying process and answering any questions about the process.  Then we discussed their requirements and went online to look for homes for sale in their community using our state of the art home search in Madison wi .


Our guidance is to look at all home on the market and to select 7-10 of the BEST looking homes for sale. The purpose of this Step, is one we have found thru experience as one that really helps any buyer to understand the home buying process and how to effectively buy a home.  With this preparation we find buyers understand the buying process and can make a better decision and buy with less stress.   We selected a time and date to tour the homes and then we enter Step 2 of the process. 

 

Step 2: is the actual home search.   RealEstateguy Team makes tour appointments and we view all the best homes on the market.    With Holly and Evan, we encouraged them to make a ranking of their top 3 homes and by the time we had finished the showings there was just 1 home which was interesting.  


Step 3: We are not one to exert undue pressure on our clients, Holly and Evan went home to think about it.   That evening we learnt that another offer had come in on that home, so with that news they decided to go to our Step 3, the paperwork of an offer.   With skill of 20 years, we were able to find the terms and offer price that beat out the other offer and we with the home under contract we started


Step 4:  Offer to close.   We coordinate our complete team of inspectors, financers, attorneys, warranty company  and closers to take the home to contract.   This process takes between 3 and 8 weeks. 


Finance details.

Our lender, Joe Long is fantastic.  He is with Waterstone Mortgage who make available an extensice choice of mortgages.   In this case Joe helped Holly and Evan chose a Rural housing loan.  This is a zero down loan insured by the government.      This program is available in Dane County in smaller communities, so Madison and Sun Prairie are excluded..(there are other programs for these areas).


On a purchase price of $238,000, buyers wrote an earnest money check for $2,000 once the offer was accepted, And they negotiated a credit of $2,000 for financing.   So at closing they walked away with a check for $350.

 

That is an out of pocket cost of $1650, and one very happy couple.  Congrats again Holly and Evan.  And a shout out to our partner lender, Joe Long at Waterstone Mortgage

 

Search all area homes for sale Madison Wi  Why not take advangtage of low-low interest rates?




first posted http://wi-realestateguy.blogspot.com/2011/09/realestateguy-helps-couple-buys-cottage.html

Posted by

Guy Lofts CRS,  is a long-term area resident who has been helping people make sound housing decisions since 1993.  Guy is a past president of the Wisconsin Chapter of CRS, the Certified Residential Specialists.  A leader in technology, having had his first personalized web page in 1995.  With a first Blog in 2006,  Guy has provided training with in his office and is to present a training at past Wisconsin Realtor conventions.

His passion is helping people improbe their quality of life through Real Estate.  That means whether you are in real estate of ust want to invest of buy a home, we can help you.

Real Estate Guy @ eXp Realty Madison 

Helping Buyers and Sellers in Madison WI  Search all homes for sale, Madison WI

 

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