From Landlord To Homeowner

Being a landlord isn’t for everyone. For years, the title fit Ms. Washburn like a glove. She owned a home she rented out in the Sumner area to various tenants over the years, and for a while, it worked out great. But soon, two mortgages, two bills, plus the responsibility of being an owner and landlord of two properties took their toll on Ms. Washburn. She was burnt out, and wanted to focus on a single piece of property – her own.

It was time to sell the rental. To do this, Ms. Washburn knew just where to turn. The Toril Sells Houses Team. She knew they would get the job done.

Ms. Washburn’s goal was pretty simple. Since the house was vacant, she didn’t want to focus on finding a new tenant. She just wanted to sell it to someone who would take good care of it.

The Toril Sells Houses Team sprang into action. The house was staged, photos were taken, and the For Sale sign went up in the front yard. The home was certainly the catch Ms. Washburn saw so many years ago, because within days, an offer was made. Everything seemed to fall exactly into place. The offer was signed around, the inspection was done, and the appraisal was in, signing was scheduled. The house would sell quickly, everyone felt it.

But, just when things seem to be working out perfectly, life likes to toss one of its curve balls. In this case, life decided to toss more than a few at both Ms. Washburn and the Toril Sells Houses Team.

First, came the call from the lender. The buyer no longer qualified for their loan. This was terrible news all around. The buyers and their children had fallen absolutely in love with what was to be their new home, and Ms. Washburn was looking forward not only to blessing this new family with a new forever home, but also not having to pay for two mortgages.

But the Toril Sells Houses Team would not be deterred. In their many years in real estate, they’d experienced their fair share of these curve balls, and then some. They went straight to work, figuring out a solution for this unique situation.

In most case, if a buyer fell through, a seller would simply put their home back on the market and search for a new one. But not every seller is typical. Ms. Washburn certainly wasn’t. She decided to rent the home to the buyers for six months in order for them to be able to qualify for their loan. Six months should be enough time to work out any bugs. Six months later, however, the potential buyers, and now tenants, still didn’t qualify.

A new solution had to be worked out by Ms. Washburn, the Toril Sells Houses Team, and the buyers/tenants. It was a painful decision, but they all agreed to put the home back on the market, and look for a new buyer.

In spite of these difficult, and often painful curve balls, the property retained its popularity and value. Within a month, a new buyer was found, and the home sold.

Now, Ms. Washburn is the proud owner of one property, one home, one mortgage, one property tax, and one set of utility bills. Now, after many years of providing a home to others, she could relax and enjoy her own.