When one set of our first time home buying clients started their home search with us, they immediately referred us to a colleague who was also thinking about buying. So we met with this first time home buyer to find out what he was thinking. He actually thought he couldn’t buy so was reluctant to met up. We hear this a lot. With affordability at its highest level in history we informed him that even though he wanted a large 3 bedroom single family home for under $250,000 that it was indeed possible! We walked him through the process, educated him about lending, explained what short sales and REOs were and he was convinced!
The tours began in his desired cities of Bothell and Edmonds. After several tours we found his perfect house and when his girlfriend gave him the thumbs up, it was a green light to move forward. This short sale house met all his needs and had a price that worked too. Negotiations got him an even better price and the closing cost concessions he needed to make this happen. With an FHA loan putting the down payment in reach, he was set to close and he did in only 2 months, which for a short sale is quite speedy.
Congrats on buying your first home, we told you it was possible!