I’m always learning how to be a better Realtor.
Updated Spanish-style North Kona REO (MLS#233687) under $250,000.
A client recently told me he wanted to pay cash for a house. Since he owns his condo on the mainland, he thought he could ask his bank to lend him $250K to buy property, and then repay the bank when he sells his condo.
During our first conversation, the client didnâ€™t like that I told him he should first speak to a lender, and that what he was talking about was not, in fact, a cash transaction. Some buyers think they will borrow money on the mainland, come here and find a property, and purchase it with cash. They donâ€™t understand that itâ€™s not a cash purchase because the cash is subject to financing. In this case, the buyer would first have to qualify for a mortgage…so he hung up on me!
About four hours later, he called me again. This time, we had a different conversation. I saw the mistake I had made when I first spoke to him. Rather than be direct and say “this is the way it is,” I softened my tone and presented his options as questions. How would you feel if . . . ? Would you consider . . .? It was less confrontational, and he could hear me. And now, heâ€™s working on getting a loan!
Let me know if you too find financing options confusing.Â I’m always happy to help buyers understand the real estate buying process so they can make the best and strongest offer for their purchase in Hawaii.