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Shopping for a Home in 2021 – With out Money

This publish could comprise affiliate hyperlinks. Click on right here to learn my full disclosure.

For those who’re shopping for a home in 2021, you could be feeling discouraged. Money patrons and lack of stock are driving up the costs of properties, and it’s so robust to compete whenever you don’t have a money provide (for properly above checklist value most often). 

2021 has been a loopy 12 months of shortages. There’s a scarcity of properties, a scarcity of automobiles, a scarcity of froth to make sofas and recliners…

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

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

We moved to Florida final 12 months proper because the pandemic was shutting every little thing down. We determined to lease for a 12 months or so earlier than shopping for a house. We wished to handle a large quantity of debt we’d gathered earlier than we jumped into house possession.

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

The actual property market exploded in my small city, very like the remainder of the US, however the distinction was we have now some huge cash coming into this seashore city, which implies plenty of competitors for house 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 quick, Rocket Mortgage saved the day. We had been capable of purchase the right home for us inside our finances (a finances about $50k larger than Navy Fed was keen to lend us). 

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

I grew to become buddies on Fb with a number of Realtors in our native market. Generally, God simply supplies precisely what you want whenever you want it. 

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

It could have been unlawful for her to point out us the house previous to itemizing it, so she waited till she listed the home, and we seen the property half-hour after the itemizing went stay within the MLS!

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

We had been fallacious. 

I used to be devastated when our house appraised for $20,000 lower than we had supplied! Yikes! However the sellers agreed to scale back the worth by $17,500, and we had been capable of shut on time! 

Right here’s one other cool indisputable fact that I have 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 had been capable of take part in a patrons’ rebate program. 

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

One of the best half?! You don’t must finance your house by way of Navy Federal! So after closing, we obtained $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 you must NOT really feel dangerous about that. 

These brokers who take part in referral packages are keen to pay the charge 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 blissful 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 somewhat religion and loads of endurance. Don’t make a hasty choice that you simply’ll remorse! 




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