About
two weeks ago, I got a
call from a potential client that wanted to buy their first
home in Beaverton,
Oregon.
They were willing to meet at my office, or in their
home, with me
and one of my mortgage brokers (Of their choice), which is one of my
requirements prior to going and looking at homes. (You need to be able
to
qualify so we know what you can afford so you are not disappointed that
you
can’t afford a certain property.)
After the hour or so
meeting everything was looking good, their credit
was
good, job history was good, the only thing missing was a down payment.
We
thought maybe if they were willing to look in certain areas where there
are
still 100% loans available, we could get them in a home. or they would
just
have to save and call me when they had the down payment in hand.
Well, yesterday evening,
they called and said they were ready to start
looking,
they had a down payment.
“HUH? How did you get
your down payment? You thought it was going to
take you
six months of hard savings and you got it in less than 2 weeks? How? Or
do I
want to know?”
He
laughed and said, “We
thought long and hard about it and with prices and interest rates what
they are,
we didn’t want to lose out on this opportunity to buy a house and
still
get the
$8,000
tax credit, so we figured out how to get the money” I then
said, “Well, do
tell”
He said, “We looked at
all the stuff we had. If we bought a house,
would we
really want to move all this stuff? So we decided since it
was supposed
to be
70 degrees out last weekend, that we would have a garage sale and see
what it
would get us on our way to start saving for our down payment. Well,
that one
weekend put $12,000 in our pocket! Who knew our crap that we didn’t
want to
move was worth so much?”
I was really impressed
and happy for them and I warned him that I was
going to
be posting about their story as a very creative way to come up with the
money.
He just laughed and said, “You do that. It was someone else’s story
that you
wrote about that got us to call you, so hopefully our story will help
someone
else.”
So congratulations! Here
is the post that I told you I would write. I
can’t
wait to write the story of the day you unlock the door for the first
time after
closing. If you are looking to buy a home and don’t have a down
payment, be
creative like this couple was, and the dream of owning that first
home maybe closer than you realize.
Todd Clark - Broker / Sales Coach
Palazzo Realty Group
Phone: (503)524-9494
Fax: (503)622-8739
©2009 Todd Clark - How one client went from no down payment to 5% down payment in a little less than 2 weeks and you can too!
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)746-9573
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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Wise, very wise. I moved to Sequim in 2005 with only 3 dining tables, two couches, one baby grand piano, and five large bookcases. And the usual bedrooms furnishings. And my kayak plus all the gear that goes with. I left behind two couches, tons of yard care equipment, patio furniture, a very nice stack of bricks, and my son who leased the house from me. If I had sold it all, I probably could have netted, oh, let's say $500. I don't miss any of it. And neither will your buyers. Good-hearted, smart thinkers, and willing, ready, and NOW ABLE. Congrats!
Where there's a will, there's a way. I know you'll find them a fantastic home!
Hi Todd
That is a great story. Thanks for the idea
Kieran and Cecelia
Well, it is a great idea. However, I am dying to know: what on earth did they sell that netted $12.000?
Man, you are so lucky to land clients like that. . some of mine have been looking for a down payment for the last 6 months! I will share this post with them.
Todd, The most I ever got at a garage sale was $300. What on earth did they sell to make 12K? Those are some very motivated buyers.
Todd, great story. I think I'll do a garage sale next weekend!
There is so many ways if the will is there to come up with some money to buy a home. This customer is determined. I hope you find them that dream deal and dream home.
Hi Todd: That's a great story - thanks for sharing - I may have to raid my own garage - LOL
:)
Hi Todd, Thanks for sharing. Keep posting best.
Best - Sash
Todd --- what a great story ---- I love it --- I will share this with my agent/owners --- as a matter of fact, I'm going to re-blog it, so that my agent/owners will have a better chance of seeing it. Thanks for sharing.
Good stuff....out with the old and in with the cash...ingenuity at its best.
Todd, congratulations to your customers on being creative to get what they wanted. I love that it came from reading your blog! That is incredible. I look forward to reading your post about them closing and moving into their new home.
TC,
The heck with selling them a home, I want them over at my place to run a garage sale...!!! :) Thanks, Fran
Todd - I had a client who did that too. He didn't net 12k but he did make a few thousand and it was a nice little supplement to amount in his savings acct. I guess I should also mention that he used Craigslist to sell some big ticket items. Where there's a will there's a way. Great story.
Hey Todd.....That must of been some Garage Sale of Interesting Stuff to get $12,000, If I thought I could raise that amount from a garage sale, I'd do it every weekend, just so I could come down to Beaverton to Buy some great homes...
Cheers, thanks for sharing this story, certainly a great way to Get ride of your excess stuff before moving :O)
This is such a great story. I certainly never heard of anyone making $12k at a garage sale. Farm equipment?
Anyway, I will be forwarding your story to a first time buyer friend of mine. Who wants to move into a new home with a bunch of old junk.
Thanks for the post.
Just proves that the motivation of the buyer is so important they can do most anything if they want to. Nice Story.
Yep... I had one set of clients when moving, always sold all he furniture each time - they said it gave them a chance to give someone else a furnished home, and it gave them a chance to shop for something different. I guess it sognificantly cut down on their moving expenses. Brilliant post! Best of luck to your clients! Cheers,
What a great idea!!! Thanks for pointing out a way that could help some home buyers reach their goal.
Sherry - By law you had to downsize your stuff to go to Sequim, if you hadn't they would have had to double the size of their public storage from one unit to two. (ROFL)
Jesse - Today, I did and we are waiting to here back if the offer was accepted by the bank. It was an REO property that was everything they wanted, just needed a little TLC.
Kieran and Cecelia - I hope it helps some of your clients get closer to that dream of home ownership.
Margaret - A very nice oak entertainment center, pool table, motorcycle and a big screen TV. (I wondered the same thing)
Fernando - Also check to see if they have friends or family that maybe in a giving mood.
Barb - Some great stuff... Read my comment to Margaret.
Gabe - I'm actually working on one myself after hearing this. I got so much crap, that I spend $650 a month on storage units... I don't need that!
Laura - I think we have found it, now if we can just get the price to where they need it to be, we will be set!
Matt - Sometimes it is the little things that make the biggest impact on our lives.
Sasha - As soon as we close on this, I promise to update everyone!
Liz - Feel free and I hope it gets even one more sale for any of your agents, then it will be worth it.
Larry - I figure by the time we close the money will have been seasoned as well. So even better!
Kelly - How funny, me too! (LOL)
Fran - If you have the items, I know they could sell! But, you got to have the good stuff.
Donne - I never thought about Craigslist, but that makes sense also.
Fred - I am going to be holding a big garage sale of my own soon, my record collection if I sell some of it off could put that in my pocket and free up some space in my house... Not sure I'm ready to give up the records yet.
Brinette - I've started to come to the conclusion if I haven't touched in three years, then I don't need it.
Terry - This person was certainly more motivated than even I thought when I first met them.
Amy - I can't see doing that everytime, but I guess if you really like new furniture then great. I like the one with the pillows just like I like them.
Bruce - I know most won't try this, but those who will deserve to be home owners!