This segment is part of a larger Virtual Live Event that we held in March 2021

The Gist:

When people think about mortgage, they tend to think of purchases. When it comes to sales, it’s also important to know where they should go, what they should do, and how they are going to do it.

• Oftentimes people identify themselves as buyers because that is what they are focused on— If they’re going to move, they are more concerned about where they are going to be living.

• When someone who is both selling their current home and buying a new home comes to Cheryl, she first evaluates the available options. Does the first property have to be sold to be qualified for a second one? Is the downpayment coming from the first and going into the second? Do you have some of your own cash? Is there a potential co-signer who can help out?

• If plan A, B, or C is for some reason not an option, what should plan L, M, N, O, and P be? All alternatives are mapped out and discussed with you beforehand so there are no surprises in the long run.

HACK&Co work with lenders who have a stellar reputation in the market. Cheryl was the Real Estate Investment Network Mortgage Broker of the Year with lots of relationships in real estate.

• When multiple offers come in, HACK&Co and our trusted partners are in it to win it!

• During the talk with our clients, the whole team comes into alignment and understand your expectations.

• After the market research and a thorough analysis as a team, we find the right property for you, but it often becomes challenging to close the deal for the highly competitive properties.

• We often find through market research that the property is undervalued. For example, if it was listed 4 months ago, the value may have gone up by 2% already in this fast-changing market.

This is where Cheryl does an excellent job, taking a look at the whole field and making a plan— Do you need to buy before selling? It may appear smart to not hold a property before buying one, but there are situations where it becomes wiser to opt for this option, and Cheryl will guide you through it.

• Being a RE/MAX team, we have a global brand with an outlook on the global real estate market. It’s valuable to have this sort of network to understand how other markets are behaving. In big cities like Toronto and Vancouver, the market is more static. Over-market offers are a constant thing in those places, but its new for a city like Edmonton. While markets in North America are seeing a boom, places like Delhi, India, and China are quiet.

When you come see Cheryl, she will evaluate your present situation and makes an ideal plan (Plan A) based on the information provided. When she understands the selling price of your current home, she matches it up and makes a plan for the future.

• 99% of people don’t want to be “homeless”— selling off their home before purchasing a new one, even for a few days, which was intensified during the pandemic. Most people would prefer buying their next home before selling their current one.

• The lenders landscape has changed over the years, but lenders are still looking at lending based on risk mitigation. There is little flexibility right now due to COVID-19.

• In terms of liquid assets, cash, etc., these are the variable we are seeing shifting. Previously we were able to be more flexible, but lenders really want to make sure that if something happens to your income — something that has been happening frequently over the past year and a half — that you have a safety net.

• Cheryl suggests that buyers do not go all out and empty your bank accounts, because you never know what is coming your way. This is why it’s important for Cheryl to make numbers accurate for buyers, so you know that this investment is not going to obstruct your day-to-day expenses.

• If you have your documents ready, the pre-approval can be arranged same-day. Cheryl takes care of all the difficult parts and technicalities, so this is the quickest and least painful way to get ready.

Bottom Line: When it comes to real estate, we always like to be in the know. We need to know what’s happening in mortgages and appraisals, which is why we surround ourselves with so many high-performing experts.

Ready to Get Started? 🏡

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