We are very excited to announce that we just have teamed up as a group of Realtors that deal directly with Banks and list REO properties!!!.
We also represent buyers interested in that type of opportunities. We make it easy for the asset managers, agents and our own buyers.
We have several listings (active and coming soon) on Santa Clara and Monterey counties.
For more information you can check our website:
http://www.reoangelsteam.com/
Friday, April 25, 2008
Friday, April 18, 2008
Mr. "Is it really possible to become homeowner?"
Mr. JM sent me an e-mail inquiring about 1st time buyer programs. He never owned a home before and had very little for down payment.
We met and talked about his plans and situation. We also determined which programs could fit into his situation.
He was skeptical but still wanted to try. We met with the bank and He was really surprised when they determined an estimate on his maximum loan amount and payments. He said: "Wow, this is more than what I needed!, what is the next step?". He went back home with a big smile.
Once He was pre-approved I showed him properties according to his requirements.
I included a property from a builder in a great location, close to everything including his job. He liked this particular property, He knew it was a good one and someone could just get it before He did, so He asked them to hold it for him by putting down a deposit.
The next day we went on our 2nd tour and at the end of it He said: "I need to see no more homes, let's go back to submit an offer with the builder". The next day we submitted our offer based on a CMA that I prepared for him.
A couple of days later the builder called us with the good news: our offer was accepted!, so we went to sign the contract.
The only thing we had to do now was waiting for loan docs from the bank. Mr. JM also was getting additional assistance for 1st time buyers. Mr. JM was even more excited!
Everything was going perfect but now California was declared as a declining market area and the bank requested an additional 8% of the purchase price!. Basically that was impossible and we had to find a solution.
After some research, I found that another bank was willing to do it with only 3% down. I met with Mr. JM and explained the situation and the alternatives: we need to switch banks but the good news is that your interest rate will be lower, are you willing to put 3% down? Mr. JM replied with a lot of excitement: Let's do it!, thank you for finding such a great solution!. Everything happens for a reason.
I negotiated an extension with the builder for our close of escrow, we started the process with the 2nd bank and they put the processing in a rush. Now we were back on track!
After a few weeks the bank called: documents are ready. It was time to call Mr. JM: what is the best time for doing your signoff tomorrow?. He could not believe it! He said: any time, this is very important!We still had some more news for him: your interest rate is even lower than we expected, I’m getting extra assistance and an extra incentive for you!. He could not believe it! Once again He said:"Everything happens for a reason, thank you!"
Mr. JM signed off and the next day the bank did funding. I called him: “you just became homeowner!, what time do you want to pick up your keys?, He answered: Let’s do it at 2 pm, I just want to thank you all your help to make this possible. Thank you!
This really made my day, a big satisfaction of helping somebody who believed for 20 years that becoming homeowner was only a dream!
We met and talked about his plans and situation. We also determined which programs could fit into his situation.
He was skeptical but still wanted to try. We met with the bank and He was really surprised when they determined an estimate on his maximum loan amount and payments. He said: "Wow, this is more than what I needed!, what is the next step?". He went back home with a big smile.
Once He was pre-approved I showed him properties according to his requirements.
I included a property from a builder in a great location, close to everything including his job. He liked this particular property, He knew it was a good one and someone could just get it before He did, so He asked them to hold it for him by putting down a deposit.
The next day we went on our 2nd tour and at the end of it He said: "I need to see no more homes, let's go back to submit an offer with the builder". The next day we submitted our offer based on a CMA that I prepared for him.
A couple of days later the builder called us with the good news: our offer was accepted!, so we went to sign the contract.
The only thing we had to do now was waiting for loan docs from the bank. Mr. JM also was getting additional assistance for 1st time buyers. Mr. JM was even more excited!
Everything was going perfect but now California was declared as a declining market area and the bank requested an additional 8% of the purchase price!. Basically that was impossible and we had to find a solution.
After some research, I found that another bank was willing to do it with only 3% down. I met with Mr. JM and explained the situation and the alternatives: we need to switch banks but the good news is that your interest rate will be lower, are you willing to put 3% down? Mr. JM replied with a lot of excitement: Let's do it!, thank you for finding such a great solution!. Everything happens for a reason.
I negotiated an extension with the builder for our close of escrow, we started the process with the 2nd bank and they put the processing in a rush. Now we were back on track!
After a few weeks the bank called: documents are ready. It was time to call Mr. JM: what is the best time for doing your signoff tomorrow?. He could not believe it! He said: any time, this is very important!We still had some more news for him: your interest rate is even lower than we expected, I’m getting extra assistance and an extra incentive for you!. He could not believe it! Once again He said:"Everything happens for a reason, thank you!"
Mr. JM signed off and the next day the bank did funding. I called him: “you just became homeowner!, what time do you want to pick up your keys?, He answered: Let’s do it at 2 pm, I just want to thank you all your help to make this possible. Thank you!
This really made my day, a big satisfaction of helping somebody who believed for 20 years that becoming homeowner was only a dream!
Subscribe to:
Posts (Atom)
