Congratulations to Chris and Anna on the successful purchase of their new home in Milwaukie! It has been a pleasure working with these two first-time homebuyers. I am so proud of their cool, calm, collected approach to what can be a frazzling market. Below are a few takeaways from our transaction that all buyers can benefit from:
- TEAM: Chris and Anna did their homework. They talked to friends and family and knew they’d need to build a strong team to help guide them through the process. They had extensive conversations with both me and their lender prior to actively looking at homes. Once it was game time, all team members were on the same page and chomping at the bit. Their lender’s availability over the weekend and communication with the listing agent played a huge role in helping their offer get accepted.
- TERMS: Chris and Anna beat out 4 other buyers, even though their offer was not the highest in price. They included creative verbiage around repairs and appraisal (but didn’t have to fully waive either). Additionally, Chris and Anna offered the Sellers flexibility in the form of a free rent-back period. To show seriousness and round out the offer, Chris and Anna agreed to order the appraisal right away. It is typically not one term, but a collection of terms, that makes a buyer’s offer stand out above the rest.
- TRUST: Chris and Anna understood that they were up against stiff competition in this market, and experienced two heartbreaks before having their offer accepted. They were eager to reflect upon and learn from their experiences, and trusted me to give them honest feedback and perspective. This foundation of trust carried us all the way through the transaction and helped make the inevitable bumpy parts less jarring.
- TRY: The inspections turned up some significant repairs and deferred maintenance. Rather than throw the towel in, Anna and Chris trusted the process. We worked diligently to get multiple bids for each item and outlined our ask using logic, reason, and numbers. Though there was a backup offer, our due diligence paid off. The Sellers agreed to a concession totaling, roughly $20K in concessions!
- TEXTS: I often use the roller coaster analogy to describe the home-buying process. Through the ups and downs, it was our hilarious text thread – filled with Chris’ dad jokes and ridiculous GIFs – that kept us grounded and allowed us to check in on the daily. I can’t stress enough how much having a sense of humor can make the home-buying process a bit less nerve-wracking.
Keys will come in a month or so, but we can certainly drink to Chris and Anna’s success now. CHEERS to the new homeowners!