The Ayala’s Family worked hand and hand with Loan Officer Luis Miguel Segrera, from American Financial Network, one of our preferred lender partners, to obtain a strong pre-approval that will allow them to secure the house of their dreams.
After getting the pre-approval, we reviewed the buying process again, discussed the terms of their pre-approval, stablished the criteria of the right house for them and started looking for it.
Several houses became available thru one of the toughest real estate markets in history for buyers. However, they did not quit. Instead, they kept looking for a great opportunity until it finally arrived.
A great rancher house in need of some repairs but with huge potential. With two separate car garages, one actually set up as a two-level mechanic shop, and a lot of more than half an acre, they have enough space for their family and for all the equipment of their contracting business.
The house was listed at the price of the latest appraisal report, which was provided. However, there was no mention of the date of the appraisal. After checking it out, we realized that it was dated about 4 earlier and with the kind of market we are in, the house would probably appraise for more.
We guided the Ayala’s Family to make an offer 15k above asking price and with terms that would make it impossible to the seller to reject it.
The efforts paid off. Not only the Ayalas got the contract. But the final appraisal value was actually $25,000 above the price that our buyer clients paid for the house, making them start with lots of equity in their hands.
The loan officer, Luis Miguel Segrera, and Angela DelRio from the Cardinal Title Group, put together their efforts to move the process quicker than expected and to close the transaction in a smooth fashion in less than 30 days. Thank you, Luis and Angela, for an outstanding job and for accommodating to make buyers and sellers happy with an earlier than expected closing.
Congratulations to the Ayala’s Family on the purchase of your their new Home. We hope you are very happy in it for years to come and thank you for allowing us to guide you thru this process!