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Shopping for a Home in 2021 – With out Money

This submit could 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 robust to compete if you don’t have a money provide (for effectively above checklist value generally). 

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

Overlook 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 could determine to promote the house. 

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

We moved to Florida final 12 months proper because the pandemic was shutting the whole lot down. We determined to hire for a 12 months or so earlier than shopping for a house. We wished to maintain a large quantity of debt we’d collected earlier than we jumped into residence possession.

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

The actual property market exploded in my small city, very similar to the remainder of the US, however the distinction was we have now some huge cash coming into this seaside city, which implies a lot of competitors for residence 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 had been in a position to purchase the proper home for us inside our funds (a funds about $50k increased 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 had been we in a position to scoop up this residence earlier than anybody else had an opportunity to even see it?

I turned buddies on Fb with just a few Realtors in our native market. Typically, God simply supplies precisely what you want if you want it. 

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

It will 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 suggestion that morning, and it was a robust provide (over asking value), assured the home would appraise for extra.

We had been flawed. 

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

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

Navy Federal Credit score Union’s RealtyPlus Program

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

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

The very best half?! You don’t should finance your property via Navy Federal! So after closing, we acquired $1,750 again. 

Now, as a former Realtor, I’ve to let you know 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 prepared 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, in order that they’re blissful to do it. 

You possibly can study 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 just a little religion and a whole lot of persistence. Don’t make a hasty resolution that you just’ll remorse! 




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