Home Sweet Home
The journey ends or there are more memories to make
Home Ownership or Bust
The real estate and mortgages problems get solved and the property closes. Or there are problems that make it so the property does not close. First, if it closes, the first time owner is born. They make a property sale into a new home. Fantastic, the American dream is realized. Another happy home owner enjoys the journey of home ownership.
But if it fails to close, it is not the end of the journey if the first time homeowner buyer can keep going. If the deal fails because the borrower cannot get a real estate loan at this time, the journey can take a substantial time lapse so that the borrower can make the changes to get qualified to get a mortgage loan.
But if the property part of the transaction failed, then it is on with the search for a new property. The first time home buyer has difficulty with not taking it personal. Not every real estate transaction closes. That is a fact of life. It is wise for the first time home buyer not to put their heart into the property until they get the keys. Because if they do put their heart into a property before it is closed, they will lose heart if the deal goes bad. Then it is difficult to keep going.
When a deal goes bad, take 3 steps. Don’t take it personally. Keep focused on the dream. And take the next step of starting the search immediately.