Saving Diana Thousands, And Removing Debt From Her Life

Renovation Of An Old, Tired Real Estate Mindset..

Diana’s husband had recently lost his job and now was the time to make their move. There was a lot on her mind that day. She and her husband were facing the harsh reality of losing a lot of money selling their home on the market. The humidity had recently been cast aside to make way for the genuine Canadian warmth we all look forward to. I sat there over my coffee with a serene feeling enveloping me. But, I could tell that Diana didn’t share the same comfort as I.Diana had recently called me after being referred to us by a colleague of hers. She and her husband had been toying with the idea of moving from Ontario out to Alberta for some time now. However, at this moment in time, her life was different. Diana is a go getter type of person who likes to research her options in every aspect of life. She and her husband had been living in their home for about eight years by this time. A couple years past, they had refinanced their home to have a little cash to put a new roof on the house and pay for a few upgrades. At the time, she didn’t feel she was doing anything financially irresponsible, and could still afford their monthly mortgage payments, along with still having a little bit of equity in their house should they need to sell in the future. A couple weeks prior to our lunch she had done the responsible thing and called up her banker and asked her what was entailed in the process of selling their home, and closing out their mortgage. She, like many others I have met in Canada, was silenced for several moments as she processed what was being said on the other end of the telephone. Our sandwiches came, as Diana was explaining to me an upside in their lives. Her husband had received a great job offer to work on the oil fields in Alberta. Moving, was now their final decision, and she would find work out there. Being a nurse, it wouldn’t be that hard to be relocated. The reason for our lunch that day was a result of what her banker had told her on the phone. Diana had been led to believe that they would have to come up with three months of interest as a penalty to sell their home earlier than their maturity on their mortgage. In that conversation, her banker delivered the devastating news that they would be responsible for a $23,000 payout penalty. This, as expected, didn’t leave her and her husband much room to sell their house, pay for the closing costs and have enough money to load up the truck with their belongings and move out to Alberta. Being an astute individual, she was also well aware that paying for a realtor to sell their home was out of the question. Using a realtor would definitely put them in the negative after paying out the principle on their mortgage with the bank, and the resultant penalty. It was clear they didn’t have money to pay to sell their home and wouldn’t be able to afford to move at all. To keep it simple, they planned on taking a reprieve from home ownership and renting for a couple of years in Alberta in order to build up enough of a down payment and afford a home of their own comfortably. The reason I had agreed to meet with Diana that day was because of the nature of her problem. In the course of investing in real estate, it became obvious to me that Canadians like Diana, are battling with being over financed in their home and falling victim to the bank’s ridiculous payout penalty philosophy. In Diana’s case, the bank was simply unwilling to negotiate any kind of deal or compromise. Consequently, she was left unable to afford a realtor or even sell her home. This endemic problem in Canada was one that was not new to me, and one that I had helped other sellers like Diana overcome in the past. I don’t particularly agree with homeowners being taken advantage of, and I also knew for certain that there are better ways to sell your home in these situations. Unfortunately for most, they have little idea what these options are. I was sure I had more to offer using my knowledge gained than just simply recommending she list with a realtor, sell on the market and take a huge loss. I promised that day to listen to her and do my best to help her and her husband through their tough situation. Diana had been a bit skeptical of meeting with me, as her friend told her we were investors. The thought permeated her mind as something to be avoided. I could tell by now, that she was becoming more comfortable with the concept as she finished her sandwich and set aside her plate. It was becoming clear to her that, using our different approach of purchasing houses may be of value to her in her situation. She would be able to get around her mortgage payout penalty, and part with the money she needed to move. I didn’t promise Diana that day we would absolutely buy her home and she would live happily ever after. I did promise that, if we could come to an agreement, that satisfies both of us, that I’ll use all my investment knowhow to satisfy both my needs and hers to proceed with purchasing her home. Luckily for the both of us, Diana was a well educated and reasonable individual who had done some research to better understand her situation before coming to me. She knew by now that selling her home and walking away with all the money she had expected was out of the question. She like many others, had been mislead that homeownership is all great, and the value of it will always rise. This simply didn’t happen in her case. As the waiter came to take our empty plates away, we were able to come to a fair agreement between us that would put enough money in Diana’s pocket for them to load up the truck and have some money for the first few months of rent in Alberta. She would also receive another cheque in a little over two years from now with the maturity of her mortgage. This was sort of a forced savings program for her and her husband as she stated, and would be a welcomed addition towards their down payment they were planning on saving for their future home. From my side as an Investor, I had the perfect buyer in mind that day that had recently come to us. They would simply love this home, and was suitable for their needs. I was happy and so was Diana, who was now on the phone with her husband discussing the details of what had been said during our conversation. The cheque came, we paid, I thanked her for lunch and told her I’d be in touch in the next few days. Less than two months later, on closing day, we fulfilled what we had discussed that fine summer day. I had found a buyer for her home to suit my needs as an investor. Although it wasn’t the original buyer I had in mind, this couple was enamored by Diana’s home, which was perfect for them. That same day, Diana and her husband packed up the moving van, and set about their journey to Alberta. I wished them luck. I was glad to have helped them the same as they helped me. It was a great deal for everybody. Diana and her husband didn’t get rich by selling their home. She did gain invaluable insight however, into homeownership. She was now acutely aware that it’s not always as easy as it’s purported to be. They were thankful to get her mortgage payments off their back and have peace of mind to move on with their new life. I’m certain that Diana was glad that she chose to maintain an open mind that day to a different approach, as opposed to the old ideas advertised by professionals in the field of real estate. As she learned, they are not always there to help the common folk sell their home. In her case, they proved to be self serving, non-empathetic or willing to proactively help her in her unique situation. As a result of trying something new, she was able to get much more out of selling her home. As Diana stated, had she not tried, she and her husband most likely would have chosen to sell the conventional route as the professionals indicated was necessary. She did, in the end, manage to save herself thousands of dollars and afford the ability to move. So why is this story important to you? We are real estate investors primarily focusing on the Toronto and surrounding regions in Ontario. We are not realtors. We focus on helping home owners that can’t afford to sell given their gigantic payout penalty. We can come up with solutions, and offers that can save you thousands when selling your home. I welcome you to browse around our website. You can also find out more about what your options are. If you discover that this situation applies to you, contact us and we’ll see how we can help you.