We love musicians at TAA! Bassist, Dwight Thompson and his wife Danielle came to us via referral from another musician client, drummer, Matt Amundson. Dwight & Danielle were ready to start their family and Dwight needed private teaching space for his students. A young couple with no "fix it" skills, they wanted a home that wouldn't need any work, centrally located to the DPS schools Dwight teaches in and to Danielle's job in the Tech Center with room to grow, a nice yard and a garage. It so happened that another TAA client had just completed a fantastic fix n' flip that was perfect. Danielle instantly fell in love with the 4 bed/3 bath tri-level in the Fitzsimmons Medical Center neighborhood and we began to move forward with the purchase. That's when we hit the first big snag.
Danielle is from Tobago, a US citizen by marriage, but she had no credit history here and that posed some problems with the mortgage approval process. So TAA negotiated a deal that allowed Dwight & Danielle to move into their new home and rent from the Seller for 4 months until her credit history got established. It was a win-win for everyone: Dwight and Danielle moved into their new home on time and the Seller received a profitable monthly rent equal to what would be the mortgage payment once financing came through.
The second snag came when the appraisal was done. Appraisals are the wildcard in real estate these days with new rules & regs that have appraisers making "CYA" conservative valuations. The appraisal came in considerably lower than the agreed upon purchase price. Why? This deal happened at a key juncture in the market. Fixed up homes had just begun coming on the market. So when the appraiser pulled comparable sold properties there were no fixed up comps to compare it to. The appraiser's hands were tied. So again TAA set to work negotiating - everyone gave a little and in the end Dwight & Danielle got their home.
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