A dear friend of mine recently put in an offer on her first home. This could be the most emotional I have ever seen her and I was at her wedding. She was nervous, excited, and on edge waiting for the phone to ring with news from her real estate agent. She was buying her first home on the South Shore of Boston, an area beyond my expertise, so my role was that of a friend, a friend who happens to be a Realtor.
The friend in me wanted to say something to help her feel better but the Realtor in me knew her situation was not traditional and somewhat intimidating for a first home purchase. The listing went on the market not long before she and her husband saw it. Because they were not pre-approved, the another offer was accepted before they could get their finances in order. Fortunately for them the offer fell through and they were able to put in their offer right away but so did another couple.
The house was listed using the uncommon method of value price range, meaning the owner would entertain offers between x and y. After they put in their offer, they learned the owner would not provoke a bidding war; he would look at each parties’ best and final offer before choosing the one he liked most. Talk about nerve racking! Of course the listing agent could not disclose what the other offer was so they had to blindly decide what the other couple’s best offer could be and make theirs a little better.
All I could say, as her hand was glued to her phone, was, “Worst case scenario, you don’t get the house. Best case scenario, you bought your first home. But either way, once you know, you will know what to do next.”
Buying a home can be stressful, emotional, and overwhelming whether it’s your first home or your fifth home. One source of comfort through this experience should be your Realtor. This was my friend’s first home buying experience and she was grateful to have an agent that she was completely comfortable with, felt confident in, and knew was in their corner.
We at Matthew and Alisa Group Real Estate understand the emotions that can go into buying a home. We are available to discuss the process of buying property and specialize in assisting first-time homebuyers.