First Time Home Buyers - What Do You Mean My Job Is Done?
I am currently working with a wonderful couple who are first time home buyers. They were approved for an FHA mortgage and wanted to purchase a condo in the Ronkonkoma area of Long Island where they are more affordable. But, a 40 minute commute at minimum to both their jobs and that is just one way!
Then I got the bright idea of maybe they can afford a co-op since they are cheaper and there are a lot of co-op developments that are closer to their jobs. Their income is fine and their credit scores are high. Turns out I was right and they can get a conventional mortgage. Yeah!
The downside of co-ops is some co-op boards want 15 to 20% down even though the bank said they can put 10% down. I found one development in Islip, New York called Forest Green. They require 10% down and that is perfect! The co-op board there is easy to deal with and that helps tremendously.
So, my buyers went to an open house without me last weekend. They told the listing agent they are working with me so no problems there. They fell in love with one unit that is absolutely gorgeous! The owner updated the kitchen beautifully and the co-op throughout is so nice. The owner really took care of it.
Their offer of $123,000.00 was accepted, they are happy campers and now the real "fun" begins.
I was on the phone with my buyer after I told them their offer was accepted. He and his wife were so grateful for all the help I had given them especially for being able to see they could get a conventional mortgage which means they had more choices for housing. He then told me, "your job is done". Huh? You mean I get to sit back and wait for closing which is pay day for me? I don't think so scooter!
I said to him, "do you know what needs to be done next?" No was his answer. I told him that is the other part of my job, guiding them towards what needs to be done next. Resolving problems if they arise. Giving them suggestions for home inspectors and real estate attorneys. Faxing paperwork to the listing agent and their attorney. Letting them know when it's time to submit their application to the co-op board. Being there during the home inspection. Going to closing with them. "WOW you do all that?" It's my job and I'm happy to do it.
They are amazed at how much work Realtors truly do. It felt good to hear that for a change.
Jackie Connelly-Fornuff
NYS Licensed Real Estate Agent
Century 21 AA Realty
When You Want Your Home SOLD....Call Jackie!
Lindenhurst, NY 11757
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
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I had the pleasure meeting a newly married couple this past Thursday night for a little over two hours. Didn't feel like two hours though because it went fast! And it's probably because we connected right away and they were super nice to say the least! And they were so adorable together :)