CASE STUDY: Ian & Angela Buy Their First Home in Federal Way

Ian and Angela were first-time homebuyers who were referred to me from a retired broker.

I scheduled a Zoom call with them so I could learn their criteria for a home and explain the home-buying process. I referred them to a trusted lender, and they were pre-approved within a couple of days.

I set up a search based on their criteria and started sending listings. They identified the ones they wanted to tour, and I made appointments for the tours.

On our fourth tour of three to four houses each tour, they identified one that they loved. We toured the home, and Ian and Angela were planning to submit an offer. Then the sellers revealed that they already had 12 offers which had escalated the price to more than 20% above list price. Unfortunately, this was outside of their price range.

We had one more house to tour that evening, which was right around the corner. That house listed with a limited-service broker, which only lists it on the MLS. All negotiations are done directly with the seller, and it was the home’s first day on the market. The house was a flip, but it was very well done, and Ian and Angela loved it better than the previous one. The seller was reviewing offers upon receipt, so I knew it would go fast.

I contacted the seller while we were still in the home. He said that he didn’t have any offers yet, so I told him that we would be submitting an offer that night. I hurried back to my home office and started to work on their offer. I got it written, signed, reviewed, and submitted that night. The next morning the seller accepted their offer at list price.

I then scheduled an inspection and sewer scope. Both turned out very clean. There were several small items that they decided to ask the seller to fix, and he agreed to do everything they asked for. The appraisal was scheduled and completed about a week later and the report came in at value with no work orders.

About four days before closing, we did a final walk through. The seller went above and beyond on the repairs that they asked for. Ian and Angela closed on time, and I was able to enjoy my favorite part of the transaction, delivering the keys. They are now happily making a home in their new house.

Congratulations, you two!