By
Linda Walters
posted
July 25, 2019
July 25, 2019

Here I am, your Main Line Philadelphia Realtor®, up with the birds to catch my hard-working clients on their way to work to discuss the offer they have in on a great house. I got them in the car—always seems a bit dangerous to me to talk about something as stressful as buying a house with someone who is driving. But it is better than a text, for sure. Like many of my younger buyers, these busy, tech-savvy young adults connect in short messages with lots of abbreviations. Not always the best way to go over the fine points of all those Main Line homes for sale, IMHO. Ha ha.

The topic of the day is the timing on the purchase. The sellers want a very delayed closing so they can finish the renovations on their new home. My buyers are concerned about the mortgage rates going up (as well they should be). They have done a good job of contacting 2 lenders to see what their loan options are but neither one will guarantee a rate for more than 60 days. Is there a lender out there that will? We do not know. The lender you know is better than the devil you don’t, I always say. Nothing derails more transactions than lenders who over promise and then cannot deliver the money at the closing. This aspect of a residential real estate transaction requires careful attention and monitoring by experienced agents.

So we decide to change the offer to allow for the delayed closing with the rate risk in trade for what we have determined is a slightly-below-market price. It is always a trick to get a seller to take their bottom line price the first few days they have the house on the market. And this house just came on the market. We wanted to be the first appointment. We have to make the offer palatable. I know this is the house for my buyers, after seeing them discuss and evaluate many Main Line homes for sale over the last few months. And they know it is the right house for them. But so did another set of buyers. So now we are in the dreaded “multiple offer” situation. What’s a Main Line Realtor® to do? In the car, we make an important decision but based on what we believe to be all the facts we need. Will they get the house? I have a feeling they will.

Meanwhile, my email is screaming “IMPORTANT” message received. This is from a client who bought a house 3 years ago and is having an issue with the builder. After-market service is an important part of being a real estate agent, so I will need to help this client solve his problem. Hand-holding and personal connection is top priority. But first I have to locate the file and download all the emails from storage. A Main Line Realtor® also needs to be a tech whiz—electronic signature apps, professional photos and video apps, mapping software, spreadsheets with financial options displayed, etc.  

Off to leap tall buildings with a single bound.

Read next

Sage Updates

How Is Remote Work Changing Homebuyer Needs?

With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs. Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family? All of these questions are on the table for many Americans as we ride the wave of the current health crisis and consider evolving home ownership needs.

Read More
Sage Updates

Not All Agents Are Created Equal

In today’s fast-paced world where answers are just a Google search away, there are some who may question the benefits of hiring a real estate professional when selling a house. The reality is, the addition of more information can lead to more confusion. A real estate agent can be your essential guide, but truth be told, not all agents are created equal. Finding the right agent for you and your family should be your top priority when you’re ready to sell your house

Read More
Sage Updates

Three Reasons Homebuyers Are Ready to Purchase This Year

A recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of all homebuyers are more likely to buy a home in the next year, even amid the current health crisis. The survey further revealed why, naming several reasons buyers are more likely to move this year.

Read More

Connect with a Sage

Start a conversation with the Main Line's luxury home experts.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Connect with us
Sage Realty LLC
37 West Ave, Suite #202,
Wayne, PA 19087
PA license # RB065378
Linda Walters
Broker of record:
PA license # RM419313