Third Time’s The Charm for First-Time Condo Buyers

By November 9, 2016Blog, Resources

Adam and Jackie’s first-time home buying story had a lot of twists and

turns. After relocating to Boston and getting engaged, they set their sights on purchasing a piece of real estate.

It wasn’t long after we started the search, when we found “the one” — an adorable condo in Winthrop, a tight-knit ocean community right outside the city. The property was unique and checked off all of the boxes in terms of price, style, parking, and even roof deck potential! They could not have been more excited about the unit.

The offer we sent over was verbally accepted. However, the next day, we learned the sad news that the elderly seller passed away overnight. “It was a shock for everyone and very unsettling. There was no path forward on the purchase,” recalled Jackie.

We allowed some time to pass and continued the search in Winthrop, looking at condos, single families and duplexes. After several weeks, a very small and unique house with beach access and incredible ocean views hit the market. Immediately, we all fell in the love with the seaside cottage. “Knowing it would be a competitive situation, we put together a strategy, and ultimately established a max purchase price that we felt the property was worth,” said Adam. In multiple offer situations, it can be easy to get carried away by emotions and the desire to win the bidding war. Having a top price in mind can keep you grounded when competitive situations arise.

The listing agent received four other offers, and the property went way over asking price, selling for a price point that Adam and Jackie could not justify. During the negotiation, they did not let emotion guide their decision, and stayed firm on their max bid amount. According to Adam, “It was not worth winning a bidding war just to lose our shirts on the purchase.”
You know what they say: third time’s the charm.

It was Marathon Monday when their future home came on the market. Having rented for over a year in East Boston, a rapidly changing neighborhood and arguably Boston’s next big thing, the couple decided to double down on an investment in their own backyard.

On paper, all the specs made sense for a strong ROI on a two-bedroom condo on Lexington Street in Eastie. At the time, condos in their price range were going under agreement within days and time was of the essence. Since Adam couldn’t get out of work to see the property, he put all of his trust in Jackie to make a decision based on the tour. “Both Dana and I saw past the rental grade finishes and décor. Plus, given the affordable price tag, it had a lot to offer. The condo made perfect sense,” summarized Jackie. So, we geared up for another competitive situation. “Since the listing agent had expressed concerns about Adam’s absence from the showing, Dana crafted the perfect cover letter, which provided a background about who we are as buyers and reaffirmed our excitement in the property…It worked!”

It was another multiple bid situation, but fortunately, this one had a happy ending for my buyers!

Adam and Jackie recently moved into their new home and have already made some impressive changes! Take a look at their DIY built-in window seat and freshly exposed brick in the pictures below.

Cheers to Adam and Jackie on their trendy new digs and thank you for the great testimonial!

“As first-time homebuyers and new to the Boston market, Dana was instrumental in helping us find our very first piece of real estate! Dana’s knowledge and first-hand experience with buying and selling helped us feel very confident while her transparency and patience helped us feel comfortable. She understood our goals, was first to every showing and recommended other great professionals to painlessly wrap up the process. We plan to buy again and we hope Dana is by our side for it!”

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