First Time Buyer Snags a Gem

--- by Osman Parvez

There's something special about your first home buying experience. 

Yesterday morning, I attended a closing with one of our buyers. The house was easily in the top 10% of homes I see on the market. It started out like any other mid 90's, mass produced two-story but the seller had transformed it completely. Not only were kitchens and baths upgraded with custom cabinetry, fixtures, and higher-end appliances, but the seller had installed custom lighting throughout, gorgeous finishes, and even built a spectacular office space loft surrounded by large windows. This was no flip. Every design choice was clearly well considered and the seller even included key pieces of furniture that tied it all together. 

I walk through hundreds of homes in a year. Sadly, most sellers in Boulder and surrounding areas don't do much to prepare their homes for sale. Many have years of neglected maintenance and worn-out, builder-grade finishes and fixtures from the original construction. It makes homes like this one stand out. 

As our buyer and the sellers worked their way through the documents at the closing table, I asked a few questions about the house. It turns out the seller owned a commercial construction company and the improvements were done for his family, not to maximize resale. It was no surprise that the listing attracted multiple offers but even so, our buyer was able to snag it for slightly over the asking price. The included furniture was an unexpected bonus. 

Our client was so nervous she said she didn't sleep the night before and at the closing table, she carefully read through every document. It reminded me of my first home purchase, when I read each and every word of the mortgage agreement. By the end, with a patient closer and sellers who were happy to answer all of her questions, the nervousness had melted away. When the last signatures were completed and the pens put away, there were smiles all around at the closing table. The sellers even provided their contact information to our buyer, just in case she has questions about maintenance or how things work.   

I wish every purchase and sale was like the one yesterday. When issues arise, which they often do in a home transaction, they are often solvable. Clear communication, trust, and integrity, always creates a smooth experience for both buyers and sellers. 

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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

image: Cytonn Photography

Please Note

This document contains forward-looking statements. You are strongly cautioned that investment results are subject to business, economic and other uncertainties. There are no guarantees associated with any forecast and the opinions stated here are subject to change at any time. Always consult your financial advisor before making an investment decision.