I had been searching for a home in the ultra-competitive Bay Area housing market for a couple of years with no luck. I made greater than 30 offers over the course of 2 years with one finally being accepted.
One of my distinct hurdles was that I was attempting to utilize a VA home loan to fund my purchase. In most areas, a VA home loan is the gold standard. However, in the Bay Area, cash is king and people/real estate investors have a LOT of it. There were more times than I care to remember of being out-bid by another buyer who had a cash offer greater than 10% over asking price. It was demoralizing.
I began working with Paige about 6 months before having an offer finally accepted. I can honestly state that without her help, the contract on my home would have fallen through and I would likely still not be a home owner. The timeline we had to jump through all of the hurdles I ended up facing ended up being an extremely fast 1-month.
The first issue that we had to address was the fact that the property I had put an offer on was mis-classified in the MLS as a townhome. This sounds trivial but it is not. That classification impacts the loan rate and limit at which a home can be purchased. Paige took the initiative to push for a clear definition of what my property was classified as (condo in my case) and got that answer before my real estate agent could.
The next hurdle was getting the condo-HOA approved by the VA. The VA will not fund a loan on a given condo without first ensuring that the HOA is healthy from a financial perspective. Paige quickly and accurately filed the appropriate paperwork to ensure that the VA got the condo-HOA approved. Fortunately, the VA was able to quickly turn-around and approve the HOA associated with my condo.
The next hurdle that had to be overcome was the Section 1 pest inspection reports. California makes it a bit more challenging to gain a home loan with required pest inspections. Some might classify these inspections as a bit of a racket because the companies' performing these inspections oftentimes also provide remediation services associated with the report findings. This makes it in the companies' best interest to find pest issues that require costly remediation. These companies also understand that VA loan funding is contingent upon a clear section 1 pest report. In my case, the first pest inspection contained inspection elements that went above and beyond a typical inspection. The associated report contained numerous section 1 findings not appropriate to the scope of the inspection. I hired another inspection company as a second opinion on the original inspection. That report also came back with needed costly repairs but the content of that report was appropriate to the scope of the inspection. As a side note, my HOA also had an inspection company come in to perform an inspection as some of the remediation work fell under their scope of responsibility. To make a long story short, I waded through these 3 pest inspection reports with Paige and figured out what needed to be remediated and what did not. In the end I had to put a sizable amount of money into an escrow holdback to cover the repairs. I have since recouped those monies after the repair work has been completed with the help of Paige.
My final hurdle came in the form of an accurate estimate of total monies needed for closing. The closing costs ended up being more than first estimated (b/c of escrow holdback monies) which caused a last-minute re-negotiation to have to occur with the seller. The contract almost fell through at this point because I as a buyer had already missed the contract deadline. My realtor filed for an extension which was granted and Paige stepped in to ensure that the new terms were correct and that the deal could be financed. Needless to say it was a stressful situation but Paige really helped to ensure that it came to a successful end. She went above and beyond my expectations and took care of details that were the responsibility of both my real estate agent and the selling real estate agent. In short, she owned the deal and went 110% to ensure that the deal went through successfully.