"Hello, my name is "Jack" and I was referred to you by "Jill" who is so excited about her first house that she recently purchased from you. She said you and your husband could offer me the kind of guidance I would appreciate now that I am ready to buy my first home."
"Oh wonderful....we just closed on Jill's house two weeks ago and we are just going over to see her decorating...she was supposed to finish her painting and move in today. We're on our way over there now to bring her moving crew some lunch and Welcome to Your New Home Brownies...How can we help you ?"
The conversation continued...he had done his homework and talked with a lender, gotten pre-approved and knew how much of a mortgage payment he was qualified for and more than that he also knew what kind of payment he was comfortable making for his first home.
I complimented him on how well he was prepared and told him it would be a pleasure to work with him...a dream buyer...bright, a down payment, good credit score...pre-approved...a referral...how lucky are we ! Then he described the house he wanted to buy...the beds, baths, fireplace, size of garage, lot size, communities...and it was OK if it needed a new roof, furnace, etc,....and he would appreciate built ins...bookcases, china cabinets,....desks....his family had some carpenters in it and he had a fine appreciation for woodwork. Oh great...my grandfather had been a cabinet maker, my husband and my Dad had stained and finished the woodwork in our home...we were kindred souls...
Then the dollar figure..."I know I can get everything I want for a not a penny more than $X." I agreed to send him listings...he and his wife would review them immediately and let me know which ones they would like to see. Off the listings went....and minutes later the phone rang..."My wife doesn't like any of the homes you sent... She wants one like our friends have..."
"Did your friends just buy their home recently....do you have an idea how much they spent...? I questioned.
"Yes, they bought just a month ago but they spent about 30 per cent more than we want to spend....but I heard on TV......"
Next week we enter the world of reality in real estate...not as easy as the one you hear about on TV...but one they can afford...one that does not require repairs that the lender will demand be made or they willnot finance...bye bye foreclosures with needed repairs....We will find a house that works for them, for now ...it may not be the one on TV but one we know they will love calling home.
Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS
Sally and David, You have your work cut out for you. With your patience and tenacity, there is no doubt you will find a home they can appreciate and afford. And soon they will be sending you another buyer or seller to help.
Thank you Margaret...Now I will be able to save enough for a lower lip replacement from having bitten thru it.....good thing that pouty look is "in."
Sally and David - Sounds like an "adventure"! Bet you'll get him straightened out quick!
You bet...first time home buyers are the best of times and the worst of times...the worst is when they know more than you do...
Sally, Focus on the positive..pre-approved...employed...ready to buy...Good luck!
U Bet Barb...no pre-approval...no listings, no tour, no buyer....no time...
I know how you feel. The same thing happened to me with a cousing of mine, which makes it worsed. I think. But people tend to believe more on what they see and hear on TV, announcements, and on the Web than what we tell them. Just show them like I did throught the MLS. I usually send them the same listings they have seen elsewhere.
Good luck!!!!
Relatives are more difficult i agree...sme people have to learn by experience.