THE SCENARIOThis self employed borrower was successful by every measure. Thriving business, beautiful family, loving wife. When his family situation changed, he needed to buy a larger home—and quickly.
THE PROBLEMWhile his business had grown year after year, the most recent year told a different story. Profits dropped sharply, and he knew his upcoming tax returns would reflect a significant
THE SCENARIOA self employed borrower owned a successful wholesale food distribution business. He earned strong income, maintained solid credit, and had a sizable down payment. His plan was simple: purchase a new home first, then sell his existing one.
THE PROBLEMLike many borrowers, he started with “his bank.” After all, millions of dollars flowed through his accounts every year, and
Scenario:A buyer was purchasing a $1.9 million condominium in New York City and applying for a $750,000 mortgage. His income and credit were excellent, and he held substantial assets at ‘his bank.’ On the surface, obtaining a mortgage from ‘his bank’ seemed straightforward.
The Complication:Although the buyer intended to make the new condo his primary residence, he already owned a
THE SCENARIOA new home hit the market — and it was perfect.It checked every box, was priced correctly, and the buyers moved quickly. Their offer was accepted, and they hired an attorney to negotiate the contract of sale.
THE ISSUEThe seller was the estate of the longtime homeowner who had recently passed away. Her children, acting as Executors, were handling
THE SCENARIO:This client had been renting for many years and loved the home she lived in. When her landlord finally offered her the chance to buy the property, she jumped at the opportunity. Unfortunately, the bank where she had her checking account dismissed her application. That’s when her Financial Advisor introduced her to me.
THE ISSUE:Although she earned a good
Over the years, I’ve guided countless buyers through the landmines of purchasing a home — and helped them understand which risks are worth taking, and which ones are deal breakers.
I’ve advised buyers to walk away from homes they fell in love with because of major structural issues. And I’ve urged others not to jeopardize a great house over small
THE SCENARIOAn unmarried gentleman had been investing in real estate for years. Every year or two, he purchased a single family home in his neighborhood and rented it out. Even though he owned several investment properties, he himself still lived in a rented apartment. Now, he was ready to buy a home for his own use.
THE ISSUEBecause he owned
Your Agent Told You to Get Pre Approved… But Didn’t Tell You This!
If you’re thinking about buying a home this year, the first step your real estate agent will tell you is: “Get pre‑approved.”
And they’re right — except most buyers still go about it the wrong way.
Here’s what almost nobody explains…
In today’s market, not all pre‑approvals
THE SCENARIOJohn and Mary, a married couple and successful professionals – John a software developer, Mary a registered nurse—had been renting for years. With real estate prices climbing and their lease nearing expiration, they felt mounting pressure to buy a home. Their weekends were spent house-hunting with a real estate agent, driven in part by the fact that all their