Cody and Erin were referred to me by some dear past clients of mine. Cody was her bother! There was some serious skin in the game 🙂 We first connected at the end of February. They were in a lease that was up at the beginning of April. Instead of renting again, they were ready to buy.
Since their moveout date was coming in hot, we needed to jump on the ball ASAP! So that’s exactly what we did. Literally got on the phone and called my amazing lender Shelby to fill her in. They rocked out their pre-approval in a weekend. Once we got the word that we were ready to go, that’s precisely what we did.
Entering the market and looking for your home in the springtime is not easy. As we talked about the expectations and market conditions, they knew and understood what it took to win. We got them fully underwritten, which means that we could close in as little as 2.5 weeks, making our offer dance toe-to-toe with cash. Being fully underwritten in this market is mandatory!
We set out on a Saturday morning with eight properties to see. Yes, you heard my right, eight. I told them to bring orange smiles and Gatorade because we were on a marathon day. A few properties checked all the boxes, so it was time to write some offers. These two were serious, with no time to lose.
After 5 offers, and we are talking about bringing out all the stops, we finally had ourselves a winner. The house was BY FAR the best home we saw. The listing agent was terrific and so communitive. We were able to come in heavy and won the battle against several other offers, including one that was all cash. Heck YEAH!
Since the property was recently flipped, the inspection process was pretty dang simple. The renovators did a fantastic job with the work and even fixed the outstanding issues.
Now, the real fun was about to begin. We had to come in $102,000 over asking…yep. But, 2 great homes were recently sold in the area that had the same floorplan and closed for even more. I felt comfortable knowing how much over we went. The appraisal came in a full value. Yep, you heard right, FULL VALUE!!!
Then the lender calls and explains that we need to get another appraisal done since the value jumped so much in such a short period. The second appraisal came in $52,000 lower than the first. It was bad, like really bad…so with some major problem-solving skills, Shelby and her amazing team at Fairway figured out how to work through a really sticky and crappy situation.
The appraisal process is always so interesting to me. It comes down to one person’s opinion of value. We can provide all the comps we want, but truly it’s their sole decision on the value of the home. Don’t even get me started on this…
At the end of this wild ride, these two and their family scored a fantastic home. The listing agent was beyond amazing, and we couldn’t have made it through without the teamwork of everyone. It truly pays to work with the best!
So cheers to these two and all the magical memories they will make in their stunning new home! I couldn’t be more excited for them!