On Monday, October 27th, 2014 I had a closing with a first time home buyer. Β The pressure was onΒ to close because not only was this a buyer’s first experience purchasing a home, but one of my best and closest friends. The home was real estate owned (a bank was the property owner). Β I had shown bank owned property in the past and was expecting the worst. Β Overall the home showed well. Β The carpet had been replaced, walls painted and the hot water heater was new. Β One feature that I will never forget was in the walk-in closets. Β The closets were lined with what I thought looked like wood chips. Β I had never seen this before and commented to the buyer how odd they were to me. Β The buyerΒ explained that this is considered an upgrade as they are cedar closets. Β I nodded like I understood, but knew I had to go home and Google that. Β To my surprise, cedar closets are America’s best kept home improvement secret. Β They are often found in expensive and older homes. The benefits includeΒ an elegant look, a wonderful scent and they help to repel pests and mildew.
Everything about the transaction process was untraditional. A mentor once told me, “banks are governed by their own government”. Β I had to keep the deal together by sticking to what I know and going with the flow. Β I walked the buyer through negotiations, introduced her to my network, kept up with her contract timeline and got her to the closing table. Β In the end, this was something to celebrate. Β I was proud of my girlfriend and myself!
I need toΒ give credit and appreciation to those who helped me along the way including the listing agent. Β The seller’s Realtor was informative and actually seemed like he enjoyed educating me on what could be expected. Β He has a lot of experience in real estate and REO sales. Β Β I appreciated his friendly approach and hope he appreciated mine. Β Real estate is viewed as a heavily competitive business. Β I enjoy working with others so I can observe their style, which helps me perfect mine. Β I prefer to work together so we can both get paid.
The girls at Fidelity National Title handled stressful last minute changes to the HUD with grace. Β Because of this, I was able to make the buyer feel more comfortable during the closing.
I had a running theme with the buyer, “expect change in real estate” and “I don’t have a crystal ball”. Β The overall experience was nothing to be nervous about. Β The bank followed the contract and held up their end of the deal. Β It was anΒ untraditional experience for me, and it felt great to get it closed!