We wanted to be first home buyers. We’d saved up a total of $6,000 over the course of 6 years of deciding our goal. Reading a newspaper one morning, the article jumped literally out at me. I excitedly picked up the phone and called the number. I set up an appointment with the excited real estate agent and that became the beginning of my empty pockets. This is where I learned about Velgenklere and read about the way through which I can effectively manage my loans and that really helped me with my finances. Although, it was too late when I came across this amazing source. Here’s how it went for me at that time.
The house was just what I had always wanted, bay windows, winding staircase, glass kitchen cabinet fronts, brand new windows, and a patio to just absolutely make you want to relax with a book. The children love it the paint of all the rooms are already just how they’d want it. I am approved for the loan and a week into the process I have boxes lining the whole house. I even packed to how the new house would be set up and took things to donations that wouldn’t go with the new decor that I had selected for the new house.
A month later, a phone call shattered this wall of boxes. The loan fell through. Why? Because the basement wasn’t cement flooring toward the back of the basement. I complained that it wasn’t my fault that they were digging up the basement to make the ceiling taller! That was a future improvement. Would we be given a certain amount of time to remedy the problem?
No had been the answer. Now that Guarantee No Money Down, wasn’t a Guarantee, they wanted money down now! What next were our questions?
Throughout the week we spent thinking it over, we learned of a scam that some real estate agents were performing. The No Money Down! was a trick to get you to look at that specific house, and when people like a specific house, they will buy, buy, buy. So then the buyer will give the money down. Then the situation really is a No Money Down loan, no lie there, just to you the buyer. The real estate agent pockets half the money and the mortgage lender pocket the other half.
There also was a fee now that I wasn’t told about before, this fee was the processing fee of the new loan. They needed our bank account number and for our savings to be placed in the bank.
The next day we stopped at the bank to cash our paychecks to be met with an overdraft fee. How?!?! The bank told us it was from the loan company that they withdrew the loan process, the loan company wasn’t our bank themselves, I might add. We paid the overdraft fee wanting to keep our credit immaculate condition.
Going home, we called the loan company to be told that there were insufficient funds in our account and the loan was no longer an option.
We’d already given our notice to the landlord and it was now time to find a place to live, quick
Finally, we found a house that was for rent and option to buy. It basically was a rent to own termed agreement. We signed the papers and handed over again a sum of $2,000 we’d saved up in the time frame from the last imbessling house hunt. The contract, after moving in a month later, we found the contract was now nonexistent we were simply renters. A rental agreement was handed to us. The option to buy was still there, however.
Of course, to top the icing on the cake, we discovered that the real estate agent was none other than imbessler himself. We acquired a new mortgage company. A purchase agreement was drawn up and the buyer denied it. We wanted to borrow extra money with the loan to fix up the house, people do this all the time, trust me! She didn’t want us to have that extra money and complained that she just wanted another one drawn up for the purchase amount.
Again another purchase agreement was drawn up, and naturally, we lost the percentage rate as we had before, it went up a few marks. It was still within reason and we went ahead and did another purchase agreement. This time it again was denied as she had decided that the new light fixture we’d installed for outside improved the value of the house. She wanted more money the asking price was now $5,000 more than she was asking before as other repairs we had made to continue to live there, we were buying it anyway, we thought.
It took a year of battling the buyer to buy our dream home and our payments a month now were in the price range of a brand new home, not a home that required work. Our credit was dinged every time she denied and requested a new purchase agreement. There also was the expense of home inspectors, bug inspectors, and others.
The basement flooded and the sewer drain backed up, a price to pay the plumber as the seller said, we were buying it anyway, and oh that purchase agreement was on her desk at home she had all but turn it into her lawyer and we’d be set.
Finally, we decided we needed a lawyer ourselves. Obtaining one, to find that they were friends with the owner’s lawyer. She laughed and scoffed and giggled in her office one day as I walked into the door to turn in some papers. I overheard her giggling like crazy on the phone that she agreed that we just wouldn’t be dumb enough to take that kind of offer. A shocked lawyer came out of her office to grab my papers and I smiled at her as I handed her my paycheck stub for the week. Eyebrows raised she copied the papers.
It finally came to the day that we’d sit around the big table to sign for the house. A battle finally won? No! The lawyer didn’t show up like she was supposed to. No lawyer no deal, they’d reschedule the meeting.
The next day the wonderful homeowner decided she had a new buyer and since we were just renters, she’d played our buyer game long enough. We were told that we needed to be evicted and she wanted us out of the house immediately. Making mention of our lawyer’s name she commented on how her lawyer and she were engrossed with the discussion of the bills we needed to pay.
First home buyers, watch out, don’t be too trusting of the mortgage company you select, the real estate agent, the lawyer, or even the seller. All of these terms are far worse than a leaking basement and a backed-up sewer. I guarantee you, that the real estate agent, the lawyer and the seller, as well as the mortgage company if wrongly selected, will cost you more money in the long run than selecting the correct ones.
How do I find the correct ones you ask? Simple research should tell you a lot about who you are inquiring about a service. Some states allow you to access public records on the individual and Better Business Beaurau will help you tremendously as well. If they aren’t members? You shouldn’t be customers.
Rumors can pack quite a punch more than what you think, listen and inquire about the company you think you are selecting.
As far as real estate agents do not go for the double agent. This agent is more worried about the house being sold not disclosing information to you that can help you as the buyer save any forms of money. Find an agent that isn’t representing the house you wish to buy.
When you get to the house of your choice be as nosy as you can possibly think of being. Open their cupboards, swing the doors, slide the doors if they do slide, turn on the water full force, flush the toilets. Turn on all of the lights, feel the temperature of the house and check the thermostat. If its winter some sellers will make sure they cranked up the heat in airy houses to make it appear cozily warm. They’ll try to sell you on the good insulation, that doesn’t exist with your thermostat settings.
Watch your steps with every action you take as this is the largest investment of your life. Don’t let your hard-earned money saved as a first home buyer, be hard lost money as it was for myself and husband.