Episode 4 - Down Payment Help!

Today we look at getting the money for your down payment! And we reveal incredible help for home buyers...that many buyers don't know about! Down Payment Assistance Programs! They are up and running in all 50 states, and they could possibly get you tens of thousands of dollars towards your down payment! Money that will help you get into a home of your own! Sometimes you have to pay it back - sometimes you don't! We'll explain on today's episode. Plus - think you make too much money to qualify? Think again! Real Estate this Week with Stephen Gasque: The best real estate strategies out there - just for you! 

 

 

 

Episode Transcript

(00:00):
Welcome to Real Estate This week! Hi again! I'm Stephen Gasque, and I am so glad you're here - as we talk about how to nail it! Every time! No matter what kind of real estate you want to do!Just you, me and the best real estate guests in the country! Today...great information is straight ahead - about getting money for your down payment! Thousands of dollars - and pssibly tens of thousands of dollars! Is it real? Yes it is. Is it legit? Yes! And its happening in all 50 states! It's called Down Payment Assistance - and its goal? Is to help you get into a home of your own! We'll tell you all about it - right now! Joining is is Rob Chrane, the CEO of Down Payment Resource in Atlanta....and their entire mission - is to connect eligible home buyers with down payment assistance programs, all across America.  Rob, welcome to Real Estate this Week!

(00:01):
Page 2. Rob Chrane - Interview
Page 3. Rob Chrane - TagRob Chrane, the CEO of Down Payment Resource in Atlanta....which connects eligible home buyers with down payment assistance programs, all across America.
(Guitar Segue)
Page 4. Beyond the Basics
And now it's time for beyond the basics. A special segment here on real estate this week in which we bring your real estate knowledge to the next level.
And now what to do if someone else gets the house you want.
We all know that it's a competitive market out there. And quite often a good house at a good price, generates multiple offers. And sometimes bidding wars. And if there are five different offers, the seller can only pick one. So what can you do if your offer is not the winning offer?
Well obviously you could just shrug, and move on. Start your search all over again. And hopefully find a house you get.
But there's another way! In which even though your offer was not accepted...you don't give up in that house! You stay with it! And register your offer....the one that lost....as a backup offer.
A backup offer waits in the wings, while the first offer, the one that was accepted, goes through the paces. The home inspection. The appraisal. And the buyer’s financing. You see even after the winning offer is accepted, there are still a lot of moving parts involved in a successful home sale.
And a backup offer is there, just in case the first offer falls apart.
It doesn't happen a lot, but it certainly does happen. Possibly, the buyer and the seller will disagree on how to handle the home inspection. Or the house won't appraise… and the buyer will not come up with extra cash, and the seller will not drop the price. Or, once the buyers mortgage application goes to underwriting, they'll find something there, that disqualifies that buyer from getting the mortgage.
Things happen. And sometimes those things can cause the initial offer to fail. And so if you're standing by with a backup offer, one that has been registered with the listing agent, chances are they will come to you and say the first offer fell apart, so if you're still interested, we will work with you.
Just in the past year, talking to real estate agents every week, I've heard about a half dozen stories about the backup offer, that becomes the full, ratified contract.
So if you bid on a home, and your offer is not accepted? Talk to your agent. And ask them whether a backup offer is a good idea in your market, and if so, go for it!
You never know!
(Closing Guitar)
Page 5. Tease to Next Week's Show & Show Close
Next time on Real Estate This Week? "Selling Your House!" A comprehensive look at how to sell your house fast, and for the best money possible! We'll share cutting edge strategies about how to make buyers fall in love with your house...so much love? They'll make a BIG offer! Selling your house is next, on Real Estate this week! I hope you can join us for that show and every show!  And until then, I'm Stephen Gasque....and thank you for listening!