COBUY SUCCESS STORE: Mom & Daughters Buy Home Together

I became a CoBuy certified agent so that I could help buyers that may have been priced out of our housing market.  As a CoBuy partner, I’m able to focus on my client’s home search and offer process, while leaving the very important details of co-ownership to the experts in that area.

Once I learned about this mom and her two daughters, I was eager to help them find a home. They all work in healthcare, which I have a ton of respect for, especially now.

I arranged a Zoom meeting to meet with them and learn about their criteria for a home. Once I knew what they were looking for, I set up a unique MLS search and began sending listings. They would also find interesting properties and let me know which ones they wanted to tour, so I set up several tours and we saw lots of homes.

In the end, they found four that they liked, and I submitted their offers.

Given that this is a super competitive market, three of those offers were not accepted. They were out-bid on two and lost one to a coin toss!

The fourth was an off-market property that we found. They were able to get their offer accepted on that one at list price, with an inspection contingency, and no competition. So I set up the inspection and sewer scope appointments for them, and after the inspectors completed their inspections and delivered their reports, we discussed what repairs the buyer group would be requesting.

I put the inspection response together and sent to the sellers. They agreed to repair all the items on the list. Meanwhile, I monitored the repairs to make sure they were all completed before closing.

Their lender scheduled the appraisal inspection and that was also completed. The report came back at value, so that was the last hurdle before closing. Or so we thought.

As we were approaching the closing date, I checked in with the lender, who informed me that due to some missing documentation required by the underwriter, we probably wouldn’t be able to close on the date outlined in the agreement.

I negotiated an extension with the seller, and after some back-and-forth with my group’s bank that–for some unexplained reason–initiated the wire transfer, removed the funds from their bank account and then several hours later cancelled the wire and returned the funds back (TWICE!), we decided it would be best to get a cashier’s check and deliver it to escrow.

They finally closed, and mom and her two adult daughters are now happy in their new home. Congratulations, all!

Go here to learn more about my adventures with CoBuy–an exciting new company with an online platform that makes it easier to buy a home with one or more other people–be it friends, family members, or both.