The Third Time is a Charm... Lessons learned about home buying

By
Real Estate Agent with Charlesgate. Realty Group 9049889/s

“The 3rd time is a charm…” 3 lessons learned about home buying

http://2zjpip1cak1ojz9o45yvrmblv.wpengine.netdna-cdn.com/wp-content/uploads/2012/02/lucky-horse-shoe.jpgLast year I had the pleasure of working with two of the nicest buyers. They were first time home buyers and highly motivated to get into a home in Boston.

 

We met for an initial consult, came up with a game plan and started viewing homes. Not too long into the search, we came across a home they really liked and put an offer in. The sellers were heading to Europe for 2 weeks and asked that we wait until they returned to negotiate. We did not stop our search while they were away but had no choice but to agree. Nothing else hit the market at that time so when they returned we resubmitted our offer.

After 48 hours the sellers came back to us and stated that they did not want to sell at that time (not sure what happened in Europe, but alas!). Strike 1!

My buyers were disappointed but I let them know there was another house out there, possibly even a better house with their name on it!

Next I got an excited call that they had seen another home during an open house that was in really great shape and would I come view the house. I set up an appointment and we headed to the home that night. The house looked great and was a good value so we put in an offer, it was accepted and we ordered the home inspection.  So much for good value!  Unfortunately, this home had some structural issues that were not obvious at first sight.  I always urge my home buyers to have realistic expectations during a home inspection – after all most homes in Boston are older and every home is going to have something that comes up – most is easily fixable or negotiable to be taken care of.  But this house had serious structural flaws.

The structural issues were a deal breaker. Strike 2!

I have to admit there was some hugging and a pep talk at this point.

Then came a home they had viewed at an open house that they loved but it was a little out of their price range. But a while later there was a price drop and another open house scheduled for the following Sunday. I called the agent and got us in to look at the home prior to the open house. It was by far the best house yet. We made an offer and negotiated prior to the open house that Sunday.  My buyers are now happily living in this house!

I have the pleasure of being Facebook friends with this couple and we’ve continued to keep in touch. They sent me a Christmas Card of the two of them sitting on their front stairs holding a SOLD sign!  I have watched the joy as they saw the deer in their back yard, and renovated their bedroom to discovered vaulted ceilings…among other happy home owner tales.

So yes, sometimes the third time is a charm! :)

Lessons Learned:

1. Don’t get discouraged by the home buying process. There will be bumps in the road from bad inspections to losing out in a multiple offer situation. Stick to your goals that you set out in your initial buyer consultation.

2. Have a thorough home inspection done. I recommend that every home buyer have an expert home inspection. It is money well spent! Most homes don’t have major issues like this example but some do. It pays to cover yourself.

3. Work with a good buyer agent who can help you prioritize your goals, keep your home search on track, and help you through and emotional process of buying a home. It’s a little self-serving of course, but it is valuable advice and can really help you through the home buying process.

 

 

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Posted by
Best Regards, Susan Doig Realtor Charlesgate Realty Group www.Susan.LiveCharlesgate.com Cell 617-504-4381 Sdoig@charlesgaterealty.com

Comments (2)

David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

Good for you getting your buyers in before an open house, especially with this busy spring market.

Jul 07, 2014 10:21 PM
Susan Doig
Charlesgate. Realty Group - Winthrop, MA

David,

As you know you can't always get in before the open. So glad it was not the case with this house!

Jul 07, 2014 11:10 PM