Home Advantage Case Studies
- DISTRESSED HOMEOWNER HELPED
- BUILDING CREDIT TO BUY A HOME
- A CONDO THAT WOULD NOT SELL
- TOLD TO GET A DIVORCE TO BUY A HOUSE
- PERMITTING THE HOUSE AND HOUSE RE-HAB
Distressed Homeowner Helped
The Home Advantage Program has a distressed homeowner assistance ADVOCACY PROGRAM as well as helping Veteran’s through THE VALOR PROGRAM.
A Boeing employee relocated from Graham, WA where they had a beautiful home with a fantastic view of Mt. Rainier. The problem, they were underwater on what the home would fetch in a sale and what they owed. Unfortunately with typical selling costs of 1.78% excise tax, title and escrow fees, etc. they were backwards about $30,000. As the Director of the Home Advantage Program, we were able to sell their home at $0 commission, saving this Boeing employee thousands in closing costs.
Once they got settled in Oregon and working at the Drone plant, we were able to help them buy a new house.
The economic downturn after 2007 affected many homeowners that became distressed for one of hundreds of different reasons, the HOME ADVANTAGE program was there to help hundreds of them during that time frame. We still have some situations where we are helping distressed homeowners.
Building Credit To Buy A Home
We assist Boeing employees all the time that dream of owning their own home, but need assistance in building their credit. In one case, we had a Boeing employee that was told they were 2 – 3 years away from buying a home because they had a foreclosure in 2007. They both worked for Boeing and had excellent income and low expenses. The problem was the nagging foreclosure on their credit reports.
Sitting down with them and helping them build a team of home buying experts did the trick. We found them a great lender that really understood their situation and were able to get them into a conforming home loan program. In the course of 3 months, they were ready to go and found a great home in Lynnwood.
A Condo That Would Not Sell
A Boeing client had their condo for sale with another agent for over a year and for the life of them couldn’t secure a buyer because buyer’s had to come up with a large down payment and this condo was located in Kent, WA where large down payments were not the norm.
We got our condo experts at Home Advantage involved and they sat down with the Seller. The home showed well, was in a good area, especially attractive for the Renton plant, and priced well for the market.
The missing ingredient to get their condo sold was obtaining HUD FHA Project Approval for their whole Condo Community. FHA Condo Experts, a division of HOME ADVANTAGE was able to come in and help. Usually a $1,000 or $2,000 cost to get a condo community approved by HUD, FHA Condo Experts did it for free.
Obtaining FHA Project Approval was the answer to get the condo sold quickly. At Home Advantage, we take a holistic approach to helping our Boeing clients. “It’s all about you, as we say.” How can we make your home buying or home selling experience an ADVENTURE, not a stressful chore.”
We strive to go above and beyond in serving our valued Boeing clients. Recently we had a situation in which we represented the Seller and they had no equity in their home. One of the conditions from the Buyer was that the Seller re-wire most of their moderate home as the electrical wiring was not grounded.
In representing the Seller, we sat down with them and our electrical contractor and figured out a plan to get their home rewired.
As part of our DISTRESSED HOMEOWNER ADVOCACY PROGRAM, we were able to secure funding at no cost to the Buyer or Seller to get the home re-wired and closed.
Buyer and Seller were both happy and another example of how we go above and beyond to serve our valued Boeing clients.
TOLD TO GET A DIVORCE TO BUY A HOUSE
A Boeing client came to us after working with another real estate agent and loan rep that told them that they need to get a divorce in order to buy a house because together they could not qualify to buy a house.
They were so disappointed and didn’t know who to turn to.
They reached out to the Home Advantage Program and we sat down with them over coffee and we discussed their situation and found out that “they didn’t have to get a divorce to buy a house.” We put them in touch with a great lender and we were able to utilize the state bond down payment assistance program for them. We found them a great house that could accommodate her ice cream truck business.
They were so excited when we handed them the keys to their own home and their dream of homeownership, “without getting a divorce,” was accomplished. They are so appreciative of us helping them out.
PERMITTING THE HOUSE & HOUSE RE-HAB
This fantastic mini-mansion of a house came on the market and our Boeing client really wanted it. It was bank owned and the bank was hard-nosed on a price.
At Home Advantage, we were able to get the price reduced through negotiation by $75,000!
Our next challenge was getting a large addition to the house permitted by the city after the fact. The city was ready to condemn the addition as it had not been originally permitted when it was built. Through our efforts, we were able to negotiate with the city after getting structural and electrical contractors in to certify that the addition met current code.
Another example of HOME ADVANTAGE going above the call of duty with our valued Boeing clients.