Recently Closed Leasehold Purchase in Baltimore, MD

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Mortgage and Lending with Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, NMLS #138061 MMCD #1141
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Recently Closed - Leasehold Purchase in Baltimore, MD

 

 

Did you know you can use Restricted Stock Units as qualifying income on a mortgage?

 

 

Did you know you can get a property financed when ownership is via "leasehold" rather than traditional "fee simple"?

 

Leasehold Purchase in Baltimore, MD

Did you know it's possible to purchase a home under primary residence guidelines (great rates, minimal down payment requirements) using conventional loans to buy for parents or children or are financially unable to buy for themselves?

 

Did you know that for best results in Baltimore real estate transactions, it's smart to include Margaret Rome, Baltimore Maryland and the team she works with at RESE title?

 

 

     All of the above were on full display in a recently closed transaction in Baltimore, MD.  Our client, a local resident here in California, wanted to purchase a home for his parents in Baltimore, MD.  With the help of Margaret Rome, the buyer went under contract on Halloween and we closed before the end of November!

 

     This one wasn't a "cookie cutter" deal from the start - beyond the coast to coast transaction, the buyer had a unique income structure, was buying on leased land, and was flying into Baltimore for closing, so we had to ensure our closing date and time was set as quickly as we could.  Even on the morning of settlement, the world decided we hadn't had enough fun yet and threw some additional curveballs.  With the work of RESE title and our closing team, we were able to hit the curveball and the end result was an on time closing, a happy client, and a new home for his parents.

 

 

     The transaction was a picture perfect example of why working with a great professional team is SO important when buying or selling a home.  We had a real estate agent involved that knew how to negotiate, keep all parties apprised of progress and pointed out things we needed to know at the start of the process, instead of waiting to be surprised later.  We had a buyer who was quick to respond to document requests and returned nearly all requests same day or close to it.  We had a title company that was able to change location of closing last minute, and implemented a plan AND a backup plan with our closing team to ensure funds were wired on time and nothing would prevent settlement from happening when it was supposed to happen.

 

     When you're buying or selling real estate, the beginning typically involves a real estate agent or mortgage lender.  It's important to not only have a great professional helping you, but to find out what kind of team they have behind them.  Personally, I couldn't do what I do without a great team in my office.  Many of the real estate agents I know couldn't be as great at what they do if it weren't for a great TC and/or title partner that allows them to focus on what really matters - their clients.  As we wrap up November, I'll end the month by saying I am THANKFUL to have the team I do, to work with agents like Margaret and the others I've been fortunate enough to meet in and out of the rain, for clients like the ones involved in this purchase who make my job fun and are grateful to have a team working hard for them, and most of all, for this career that I am blessed to enjoy each and every day.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Margaret Rome, Baltimore Maryland 11/30/2018 06:12 PM
Topic:
Real Estate Industry
Location:
Maryland Baltimore
Groups:
Mortgages
The Lounge at Active Rain
Dedicated Bloggers
Maryland Real Estate and Mortgage Group
Bananatude
Tags:
leasehold
maryland mortgage
mortgagestories
restrictedstock

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Rainer
488,833
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear John,

What an amazing story! I love to hear how our profession helps people with all their tricky problems. In the long run, we make our clients' lives better.

Nov 30, 2018 08:15 PM #1
Rainmaker
3,174,633
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Love it cross counry and you can never go wrong with Margaret Rome, Baltimore Maryland  representing the buyers, Endre

Nov 30, 2018 11:27 PM #2
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

I first read this from Margaret's post, and am thrilled with the wonderful results for your clients. Great job to all! 

Dec 01, 2018 07:46 AM #3
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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

John Meussner 

What an awesome transaction with quite a few bumps that were smoothed with knowledge, persistence and great professionals, buyers, and sellers. Thanks for your kindness and expertise. Going to talk about this on the radio tomorrow and you are welcome to call in. 

Dec 01, 2018 06:32 PM #4
Rainmaker
1,648,677
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

It is SO important that you have both an agent and a lender who truly know the market and all of the financing strategies possible.  Good for you for thinking outside the box, John Meussner!  Even better for your client!

Dec 04, 2018 08:14 AM #5
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi John

What a great story. I'm not surprised that with you and Margaret working together, among others, that you were able to navigate all the issues and get this transaction closed!

Jeff

Dec 10, 2018 09:23 PM #6
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John Meussner

#MortgageMadeEasy Walnut Creek, CA 484-680-4852
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