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Shopping for a Home in 2021 – With out Money

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

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

2021 has been a loopy 12 months of shortages. There’s a scarcity of houses, 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 realize precisely what I’m speaking about in case your lease is expiring quickly, and also you’re fearful that your landlord could resolve to promote the house. 

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

We moved to Florida final 12 months proper because the pandemic was shutting all the things down. We determined to hire for a 12 months or so earlier than shopping for a house. We needed to deal with an enormous 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 realm in order that we may study 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 suggests numerous 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 brief, Rocket Mortgage saved the day. We have been capable of purchase the right home for us inside our finances (a finances 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 have been we capable of scoop up this house earlier than anybody else had an opportunity to even see it?

I turned mates on Fb with just a few Realtors in our native market. Generally, God simply gives precisely what you want if you want it. 

One among my Realtor mates despatched me a message on Fb letting me know that she had a list 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 considered the property half-hour after the itemizing went dwell within the MLS!

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

We have been improper. 

I used to be devastated when our house appraised for $20,000 lower than we had provided! Yikes! However the sellers agreed to cut back the value by $17,500, and we have been capable of 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

After we first utilized for a mortgage via Navy Federal (as new members who’re non-military), we have been capable of take part in a consumers’ rebate program. 

While you make the most of one in every 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 should finance your house via Navy Federal! So after closing, we obtained $1,750 again. 

Now, as a former Realtor, I’ve to let you know that this cash comes straight out of the consumers’ agent’s fee, however it is best to NOT really feel dangerous 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 pleased to do it. 

You may study extra concerning the RealtyPlus program right here

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




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