Champagne Taste And Beer Pocketbook #amarillorealestate

Pamela Madore

MR. SELLER:  THIS IS WHY YOU NEED A STRONG AGENT THAT DOESN’T SHOW YOUR HOUSE TO AN UNQUALIFIED BUYER



Champagne Taste And Beer Pocketbook  #amarillorealestate

We have all heard this expression.  Very often this applies to real estate.  Here is a recent experience.



The buyer is a First Time Home Buyer.  They came in on our site and emailed us about a particular house.  The wife did the talking.  She said that they were very picky and this was the first house that she and her husband agreed on.  It was a beautiful house priced at $245,000.

She made an appointment to go and look at the house.  

In the meantime, we are emailing and encouraging her to get pre-qualified. It was the typical “we want to look at the house first” routine.  For those of you that know me, you know that I am a “take the bull by the horns sort of person”.  I am also not going to waste my time showing houses to unqualified buyers.  She didn’t want to budge off the pre-qualifing so I started asking some tough questions.


Me:  What are your credit scores?

Her:  Mine is 692 and my husband’s is 704.


Me Thinking:  So far so good.

Me:  How much cash do you have?

Her:  The most we have is $3000


Me Thinking:  Huh?

Me:  How much do you want your payment to be?

Her:  We would be comfortable with $900 a month

Me:  Ok.  On this price house you will need at $8575 for a down payment, $6000 in closing costs, and your payment will be $2000.

Her:  

Me:  Will that work?

Her:  

Me:  To get a $900 payment you will need to buy a $110,000 or so house

Her:  We want a rent-to-own


Me:  I don’t do rent-to-owns and here is why.


Her:   (much later)  We decided to rent for a while


Ugh.  So that is how it often goes.  First Time Home Buyers are sometimes unrealistic.  Not on purpose, of course.  It is just that they don’t have any experience and don’t really know how it works.



I have champagne taste and beer pocketbook going on in my life, too. I think we all do. (Or is it just me).  I guess with life experience you often get used to drinking beer.  LOL



Interested in buying?  Let me walk you through the steps.  

Text me today!  806-290-1920

Pamela Madore
The Pamela Madore Group
Keller Williams Realty
7304 SW 34th
Amarillo, TX 79121
806-290-1920
http://myamarillohomes.com


 

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