Dream Home Secured In 1 Offer Beating 11 Parties

Success with California’s Dream For All Program in a competitive offer situation

TLDR: “We placed ONE bid in our entire house hunt and were under contract. ONE! The home had 11 other bidders.”

Meeting on a Friday and in contract on Tuesday

The buyer and I met on Friday afternoon. After interviewing several agents, he chose to work with us.

He was already pre-approved and expressed eagerness to take advantage of California’s Dream For All loan program. For those who may not be familiar, this program was a state initiative that provided down payment funds in exchange for a share in the home’s value when it is sold, refinanced, or transferred. The state allocated $300m for the program. We were not sure when the state would run out of funds so we had to act fast.

Swift action and expertise

We wasted no time. We met with our buyer on Friday and the loan program opened its doors that next Monday. The very same weekend he and I toured six prospective homes together. By quickly understanding the buyer’s budget and needs, we narrowed down the options and provided valuable insights on what neighborhoods to focus on. The buyer was receptive to our knowledge and trusted that guidance, which further strengthened our collaboration.

Navigating a competitive market

He narrowed in on a property that was taking offers that Tuesday. The stakes were high – 11 offers were submitted. However, armed with our in-depth knowledge of where the market was trending that week, we used our unique and proven negotiation tactics to stay ahead. Constant communication with the listing agent ensured our presence in the conversation, ultimately leading to victory.

A sweet victory

The buyer secured a SFH for his family of four (using Dream for All funds!). Within 11 days of the loan program opening, the $300m in funds ran out. Had we not succeeded in this highly competitive offer situation, the prospects for buying a home under this program would have been uncertain.

From our buyer

Lauren Neuschel is simply the best buyer’s agent around.  She counseled us through a spring move from the East Bay into a single family home in San Francisco without breaking a sweat. Lauren used a data-driven approach to get my wife and me on the same page from the outset. She then listened very thoughtfully to our needs and crafted a roster of single family homes that were in our ballpark, followed by some great exercises for narrowing that search to a reasonable shortlist.

Lauren’s market intelligence and personability were immediately obvious, but I quickly learned the full extent of her work ethic. Lauren is a go-getter. It was evident that she and her team work frequently with the biggest names in the city, giving us an edge in a market that can seem large and impersonal. We also had updates and insights that likely could not be gleaned from other agents.

When it came time to placing bids, Lauren was thoughtful with her suggestions. She didn’t push us to make decisions, but her expertise was invaluable. The best kind of agent. As a result, we placed ONE bid in our entire house hunt and were under contract. One! The home had eleven other bidders, and ours was not even the highest, but Lauren worked her magic with the seller’s agent to make it happen.

Finally, Lauren was integral through the closing process and helped us through a handful of hoops with our lenders. Truly the whole package. But she didn’t stop there–she sent us pizza on our move-in night! What a delight. If you want to second-guess your Realtor®, always wondering if you had the best team in the business, then take a pass on Lauren. Otherwise it’s a non-decision.”

-D.B., Buyer

A shining example

This successful sale is a testament to our ability to work at speed, our knowledge of the market, and negotiation strategies. We believe that every opportunity holds immense potential, and this case exemplifies our ability to turn dreams into reality.

These are the transactions that make me truly grateful to be working in this business. If you’re considering buying a home we would LOVE to help. Contact us to start a conversation.

May 23, 2023
Buying a Home , Success Stories
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