While everyone is waiting for the right interest rate, this smart couple waited for the right house in their dream neighborhood. Let me tell you - that patience paid off for Kara and Brandon!
These two fell in love with Rainbow Ridge two years ago and decided they were willing to wait for the right property to come along. That right home finally came along and...this house, y'all! It's sooo cool!!
They competed for it, WON, and then...they won again.
Built in 1978 this home was being sold by its original owner, who had maintained it beautifully. However, nearly 50 years is a long time and inspections typically only happen when properties change hands.
A few things came up during the general inspection, but nothing terribly unusual. However, the home had stucco siding, and we knew it needed a closer look, so we recommended a Phase 2 stucco inspection.
Thank goodness we did. Water intrusion issues and a finish coat that needed to be completely redone. NOT a cheap fix.
Kara and Brandon still loved the home, so we got to negotiating...and there was a lot of negotiating.
The outcome was a huge win! Over $64,000 in negotiated concessions and inspection repairs. 😯
~ $21,000 price reduction for the stucco issues
~ $25,000 seller credit toward closing costs and a permanent interest rate buydown (HELLO!)
~ Additional inspection repairs addressed by the seller
~ The property appraised at $1,050,000
~ Final purchase price of $1,029,000, PLUS the $25,000 credit!!
That's $46,000 between the appraised value and the purchase price plus seller credit, AND several inspection items resolved by the seller. Did anyone see that happening a few short years ago when everyone and their dog was overpaying for a home, waiving inspections, and naming their first children after sellers...just to get into the market at low interest rates?
Here is something I really want buyers to understand. Not every agent would have recognized the need for that additional stucco inspection. Without it, Kara and Brandon could have inherited a VERY expensive problem.
Buyers don't know what they don't know. Know what...they shouldn't have to! That's the greatest value of having an experienced, knowledgeable REALTOR team by your side. We are in this business full-time. We live and breathe real estate, and that experience helps us recognize potential red flags, ask better questions, and recommend the right experts when a closer look is warranted.
The wins don't even stop there! Kara and Brandon were also able to KEEP their previous home as an investment property. That means they're not only moving into an incredible new home, they are building their real estate portfolio in the process.
This was also a great example of teamwork making the dream work! Our awesome lending partner, Chris Flanders helped secure a fantastic rate buydown, and the seller and listing agent were fair, communicative, and wonderful to work with throughout the negotiations. When you have good people working together toward a common goal, some pretty great things can happen!
Kara and Brandon, CONGRATULATIONS!!! Your patience paid off in a BIG way, and we could not be happier for your sweet family. We can't wait to see what you do with this amazing home!
Thank you to the seller for taking such wonderful care of this property for nearly 50 years. Wishing you all the best in your next chapter, too! ❤️
