Houses are selling in San Carlos, CA 94070!!
This morning was a happy day for my buyers--finally, loan documents were in and the signing we hoped to accomplish last Friday took place.
Early last December these first-time buyers entered into contract to purchase this sweet home, a home they're looking forward to enjoying with their young son. Sometimes serendipity comes into play in real estate. The sellers wanted a long close or a rent back; they were remodeling their replacement home and weren't ready to move in December. My buyers had a lease on their rental that continues into March, 2011.
The solution: close of escrow about 7 weeks out, January 28 to be exact; a rent-back to the seller for 30 days at the buyers' PITI (principal, interest, taxes and insurance). A sweet deal that worked well for all.
After a couple of anxiety-ridden days with the underwriters asking for more and more documentation at the last minute, loan documents arrived and were signed; my buyers presented a cashier's check to the escrow company for the balance of their down payment; the loan should fund tomorrow, and the deed recorded on Friday, per schedule.
This time next month will be even more exciting for them, and for me: that's the day we'll hand over the keys and they will feel like homeowners for the first time.
I love finding solutions that work well for all involved!