My most recent Richmond Virginia area real estate transaction happened to be with an all-cash buyer. He also happened to be a first-time home buyer fortunate to have sufficient cash set aside to make a particular purchase on a condo in Henrico County Virginia, a county adjacent to the City of Richmond.
One of the first things to do when working with a local first-time buyer is to try to focus on one or two or maybe three neighborhoods, if possible. Initially, I showed my client several properties in various neighborhoods within the City of Richmond. His initial strategy was to purchase a property as a good investment that he eventually could rent out, if needed. I loved helping this first-time home buyer move along in the process, and it also helped us both become more aware of available properties in the local housing market!
We started out looking at single family homes and then a couple condos. All these properties were within his price range. Already I had shown him more than a half dozen properties, and he mentioned being at least slightly unhappy with all those locations. At this point, there still was one important topic that I needed to share with him.
As a resident of Henrico County, he already had easy access to view and assess various neighborhoods on his own. To be certain to abide Fair Housing regulations, I suggested that he drive through some neighborhoods on his own before asking me to set up further showing appointments for properties in neighborhoods where he knew he likely wouldn't feel as comfortable or safe.
As realtors®, we know how important it is to offer to show properties anywhere the specific criteria of the property fits. Unless our clients mention more detailed criteria like specific neighborhoods on their own, we show any property that fits the criteria. To be on the safe side, we often let our clients make their own suggestions regarding which neighborhoods they would prefer to see properties. Also, we allow and encourage our clients to do any online research on their own about school districts where they may like to send their children, if applicable.
Despite many scenic areas located in the City of Richmond, my all-cash client choose to buy a condo in Henrico County.
To make a long story a little shorter, my client ended up choosing a condo at Shannon Green in Henrico County Virginia, just a few miles away from his mother's home, and got an excellent deal on it! The price was such that he could afford to pay cash without having to use financing. Even though his closing attorney had to resolve some last minute disputes with the seller on the day of closing, we still managed to close later that afternoon. The lesson for me in this situation: To be on the safe side, just be sure (if possible) to request a settlement time in the morning!
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Are you looking to buy or sell a home, townhouse or condo in the Richmond Virginia area? Call me today, and let me help you seal the deal!
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