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Shopping for a Home in 2021 – With out Money

This submit might comprise affiliate hyperlinks. Click on right here to learn my full disclosure.

In case you’re shopping for a home in 2021, you could be feeling discouraged. Money patrons and lack of stock are driving up the costs of houses, and it’s so powerful to compete while you don’t have a money provide (for nicely above checklist worth usually). 

2021 has been a loopy yr of shortages. There’s a scarcity of houses, a scarcity of automobiles, a scarcity of froth to make sofas and recliners…

Neglect the bathroom paper scarcity of 2020! That is critical enterprise! You understand precisely what I’m speaking about in case your lease is expiring quickly, and also you’re anxious that your landlord might resolve to promote the house. 

Leases will not be available both, so what are you able to do? 

We moved to Florida final yr proper because the pandemic was shutting the whole lot down. We determined to lease for a yr or so earlier than shopping for a house. We needed to deal with a large quantity of debt we’d accrued earlier than we jumped into dwelling possession.

I additionally thought it was a good suggestion to get to know the realm in order that we might be taught which neighborhoods flood throughout heavy rains and hurricanes and that are safer for youths.

The true property market exploded in my small city, very like the remainder of the US, however the distinction was we’ve got some huge cash coming into this seaside city, which suggests plenty of competitors for dwelling purchases with money.

I shared awhile again why we selected to not use Navy Federal Credit score Union for our mortgage and what the method was like previous to closing with Quicken Loans aka Rocket Mortgage. 

Lengthy story brief, Rocket Mortgage saved the day. We have been in a position to purchase the right home for us inside our funds (a funds about $50k greater than Navy Fed was prepared to lend us). 

We closed Might 26, 2021, and we’ve been engaged on the home ever since. However how have been we in a position to scoop up this dwelling earlier than anybody else had an opportunity to even see it?

I grew to become mates on Fb with a couple of Realtors in our native market. Typically, God simply gives precisely what you want while you want it. 

Considered one of my Realtor mates despatched me a message on Fb letting me know that she had an inventory coming in the marketplace in every week. 

It will have been unlawful for her to indicate us the house previous to itemizing it, so she waited till she listed the home, and we considered the property half-hour after the itemizing went dwell within the MLS!

We submitted a proposal that morning, and it was a robust provide (over asking worth), assured the home would appraise for extra.

We have been fallacious. 

I used to be devastated when our dwelling appraised for $20,000 lower than we had provided! Yikes! However the sellers agreed to cut back the worth by $17,500, and we have been in a position to shut on time! 

Right here’s one other cool incontrovertible fact that I need to share with you.

Navy Federal Credit score Union’s RealtyPlus Program

Once we first utilized for a mortgage by way of Navy Federal (as new members who’re non-military), we have been in a position to take part in a patrons’ rebate program. 

Whenever you make the most of certainly one of Navy Fed’s RealtyPlus companions, you obtain a rebate deposited into your Navy Federal financial savings account 10-14 days after closing. 

The most effective half?! You don’t should finance your private home by way of Navy Federal! So after closing, we acquired $1,750 again. 

Now, as a former Realtor, I’ve to inform you that this cash comes straight out of the patrons’ agent’s fee, however it’s best to NOT really feel unhealthy about that. 

These brokers who take part in referral applications are prepared to pay the payment to obtain purchaser leads. This can be a purchaser and fee that they’d not have in any other case procured, so that they’re joyful to do it. 

You may be taught extra in regards to the RealtyPlus program right here

Shopping for a home in 2021 with out money is feasible. You’ve simply gotta have a bit religion and lots of endurance. Don’t make a hasty resolution that you simply’ll remorse! 




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