My client was an Edmonds school teacher, Iraq War veteran, and happy tenant living in lower Queen Anne for 14 years on a steady rent of $1400/month. When her lease was not renewed, she quickly learned that Seattle rents were at an all time high. With little money in the bank for a down payment, she thought she was out of options – until she called me. I suggested looking into a VA loan for affordable financing. She qualified!
Next, we looked at Queen Anne and the surrounding neighborhoods. Many offers in the area were bidding up to 40% above asking price. I suggested looking outside city limits to neighborhoods with quick commutes to Edmonds. We found a townhome in Lynnwood, 8-minutes away from her school. Up against 17 offers, we focused our proposal on her story instead of her bid. The seller, a loan officer, appreciated the complexity of a VA loan and the many hurdles we overcame to secure it.
The Result: We won! We bought the home for $0 down and I personally managed the VA loan officer’s rigid appraisal and inspection process. With these challenges, the sale still closed in an unheard of 35 days. My client, her partner and their cat love their new home, their new neighborhood and the freedom to never again worry about rising rent or eviction.