By Living Room Realty, February 7, 2022
Together Again
It had been over 7 years since we last saw Khanh & Nhung and gave them their keys to their first home sweet home. Then low and beyond, we received an inquiry on our website – Khanh wanted to connect with us regarding buying their second home. It made our day to see this message! We loved reconnecting with Khanh & Nhung and meeting their two beautiful kiddos. There is something so special about seeing them grow more in love and have their two adorable little minions at their side.
We went over their home search and prepped them for the current market with low inventory. They were not deterred, so we created a game plan to set them up for success. We identified their top 3 homes at a time so that we could move swiftly if a home came up that they were interested in buying. There were very few homes that made that list. But one day a good contender came to the market. Of course we needed to move quickly due to another offer being on the table.
Special Circumstances
After identifying what it would take to get them into contract, along with excellent communication on all sides, we were able to beat out the other offer and get the home in contract. This transaction was very unique in that it was part of a 1031 exchange- the seller needed to sell 3 properties and identify their new property within 90 days. Protecting Khanh & Nhung was top priority for us while we navigated this unique transaction. With interest rates rising, we went over the benefits and risks of pursuing this home.
One thing that is important to us is meeting (and surpassing) the expectations of our clients. Khanh & Nhung were bold and took the leap of faith knowing that this home was not a secured deal until keys were in hand due to so many moving parts. It can be a very difficult journey being in contract for more than 30 days let alone 90 days and staying focused and relaxed. In a situation where it could be overwhelming and stressful for a buyer, Khanh & Nhung remained respectful, level headed and hopeful that this home would become theirs. We admire them so much.
Their BIG Wins!
We saw Nhung & Khanh succeed all throughout the transaction with one win after the other.
1. Beating out multiple offers.
2. Getting the home for fair market value.
3. Repairs were negotiated.
4. The seller was able to get all 3 properties in contract and the subject property for the 1031 exchange was identified and in contract.
5. We closed 30 days sooner than the worst case scenario date.
When we got the call that we had finally funded & recorded, we couldn’t have been happier for Khanh & Nhung! Not to mention, it was Lunar New Years! When we pulled up to hand over the keys to their new home and a gift, it filled our hearts to see them so excited. Being the incredibly kind and generous people they were, they even blessed our little girls with a generous gift of lucky money!
Khanh & Nhung, we are so excited to have seen you both succeed! Congratulations on your new home sweet home. You both deserve it!
