This couple almost gave up before we even met in person...
Yesterday, two first-time homebuyers received the keys to their adorable home in Parker, CO. However, only a few short months ago Jessie almost canceled our very first meeting because she thought they could never afford it.
Back in March, Jessie posted in a local Facebook group saying she and her husband were hoping to buy a home. We booked a buyer consultation (our sit-down, two-way, let's get on the same page session that happens with every one of our buyer clients before any house hunting starts).
Then, before we even got to the meeting, she messaged me - feeling discouraged. A couple of local lenders told her they would probably only be approved for $300-$375k. If you know the Colorado market, you know that's not exactly "plenty of options for a family of four" territory. She didn't want to waste our time, which I appreciate - but I knew better.
I told her that's not how we work. We are not here for transactions - we are here for the long-haul. Whether it's next month or two years from now, the earlier we enter the conversation, the better. When people express interest in buying a home, we commit to supporting their journey - no matter the distance.
Turns out, she had never actually done a full pre-approval. She simply answered a few questions, the lenders plugged them into their calculators, and gave her "ballpark" numbers. I connected her with one of our top lender partners, Robin McGlone, Regional Manager, NMLS# 657634 and surprise!! The real numbers looked a whole LOT better!
We kept their search below budget (because house poor is not their vibe or one we recommend) - and eventually, widened it enough to include single-family homes with yards. About a month ago, we toured "the one" - a perfect little home in a Parker neighborhood they didn't think they could afford. Robin ran scenario after scenario, we wrote a creative, aggressive offer, and even with another offer in play (one we could not beat), we went under contract.
The inspection returned a number of routine faults, and the sellers were generous in resolving all the necessary items.
The appraisal is where things got a little dicey.
It came in $9k low. The sellers would not make up the gap (because they had another competitive offer in their back pocket), and our buyers weren't going to blow past their budgetary goals. Brad and I went to work, and he found a perfect comparable sale that had closed just after the appraisal. Robin challenged the value, and a miracle happened. The appraiser re-did it. Even better, he re-appraised at no cost to our buyers or the lender. - AND it came back at contract purchase price!! 
If you're not in real estate, trust me...overturning an appraisal is about as common as spotting Bigfoot in the Rocky Mountains.
If you're not in real estate, trust me...overturning an appraisal is about as common as spotting Bigfoot in the Rocky Mountains.Yesterday, Jessie and Greg closed on their 3-bedroom, 2-bathroom home in Parker for $511k - WITH $27,250 in seller concessions that covered their closing costs and a 3-2-1 buy down on their interest rate. Year one they will pay an interest rate in the 3s!!!!
There are two important lessons here.
1. Don't quit before you tart - the right team can help you get from "probably not" to "just closed"!
2. Who you hire matters - but your determination matters equally as much! These buyers did the work (over the course of several years), they didn't give up, and they trusted the right team to get them to the finish-line.
Cheers to your next chapter in YOUR home, Greg and Jessica! We could not be more excited for you or to watch your family flourish in our Parker community! 
Bring on all the bees and backyard BBQs!!
