Blog Beaverton From Backup Offers to Victory: Katie's Path to Homeownership

From Backup Offers to Victory: Katie’s Path to Homeownership

By Living Room Realty, June 6, 2024

Katie was a first-time homebuyer that my fellow Bridge to Portland Group team member, Genmae Rianelli and I had the pleasure to work with when she was ready to stop renting and start investing in herself. It was time for her to buy a house!

The search began and Katie was motivated to find the right place so we were quick to see homes as they came up. She had an open mind about what she was looking for, but a detached rancher was the dream. We found a handful of homes that fit the bill but quickly learned how competitive these homes were after we ended up in the back-up position on a few offers.

Many places we saw were quick to set offer deadlines, receiving at least one offer soon after going on the market. In these scenarios, Genmae and I would talk with the listing agent to get a sense of what we were up against in terms of number of offers, price, and other competitive terms.

The good news is that Katie was writing very strong offers and always kept her head up throughout the process.

Finally, we found a great home in a great location that was move-in ready! She didn’t need to do any big repairs to live in the home comfortably and safely. And, not only did we get the house, we didn’t have to compete, meaning Katie didn’t have to use a lot of highly competitive terms to get her offer accepted. (This often means that you’re taking on slightly more risk to give the seller some assurances.)

Once we had an accepted offer, we headed straight into inspections and negotiations. This one came back with a pretty clean inspection, but every house has a few needs and we worked through those with the seller to find a win-win for everyone.

After inspections, negotiations, and the appraisal, we were clear to close! Katie’s dad flew in for the signing to celebrate along with our amazing lender, Olivia Paulson at Guild Mortgage.

Then Katie just had to wait for the rent-back period to end because we gave the sellers time in their home after closing to move out.

Closing day came quickly and it was wonderful celebrating with Katie and her dad, Mark (the most fun duo out there)! Congratulations on your new home, Katie! Genmae and I are so proud of you for investing in yourself.