These buyers are an adorable young couple who I just adore. This transaction was smooth in the beginning, but just crazy towards the end due to the endless paperwork that Wells Fargo required from them just picking their accounts to death. Wells Fargo required them to explain every single deposit over $100 for 3 months. These buyers were FHA buyers, minimum down payment of 3.5%, and the seller paid $12,000 towards their closing costs. They competed with 3 offers. The transaction itself went very smoothly, the stressful part for the buyers was the constant emails and phone calls for additional paperwork that Wells Fargo wanted and that just did not end until the day it closed escrow. The clincher was that the day the loan was supposed to fund, Wells Fargo out of the blue would not fund the loan until some peeling paint that was on the patio cover was scrapped and then painted. So, guess who was over at the house scrapping and painting the patio cover so that we could close the deal? It was the buyers, the listing agent, Wells Fargo lender, and myself. Fun, fun!
But, yet again, very happy first time buyers living the American Dream of owning a home.
