First Time Buyer Programs are coming back…
How many times have you heard that, “We have a First time buyer program”.
“First time buyers, come one come all”. or “Special incentives offered to First Time Santa Clarita buyers”. Of course you can fill in any city reference to those touting First Time buyers programs for real estate sales.
The Paris911 Verification Rule
Make sure what they are promising and what they are advertising is put in writing and you can hold them to it!
Sometimes, most of the time, this is an attempt to get you to work with the person stating that they offer special First Time Buyer programs and incentives when utilizing their services.
If they really do, such as have access to real estate grant programs that will lessen a First time buyers closing costs, that’s great.
Get it in writing and get it signed!
Just make sure, they are putting that into writing before you sign on the dotted line.
Not so long ago, I remember there was a real estate lending company that was located in Los Angeles. They had someone that had access to the LAPD bulletin boards at every station.
I happen to think it may have been one of the Los Angeles Police League Delegates, but I am not sure.
“Were going to need more flyers…”
Anyway, they had these flyers that were contained in a manilla folder, stapled to every bulletin board across the city. That was no small feat either, at that time the LAPD had 18 police stations with 4 traffic divisions amongst other specialized units. Put them all together and that’s a lot of bulletin boards, flyers and manilla folders…
The Flyer said something like, “First Time Buyer Program – Los Angeles City Home Assistance program – City of LA sponsored First time buyer program…” I mean, with advertising like that, sounding so official and what not, who would pass that up when wanting to get a home loan and buy their first home? It had the city seal of Los Angeles and a picture of the LAPD badge on the cover – very official looking.
Smoke and Mirrors approach
This program was a pipe dream. It was a way of getting the lapd buyers in the door. This carries over online and in the local real estate publications too.
We have many a civilian client that utilize the services, with regard to Real Estate Consultation and Representation, of the Paris911 Team. This topic, First Time Buyer programs, are discussed in our offices during our crash course on real estate.
They will ask us and we will let them in on the secret. Some are Real – Currently, as of the date I’m writing this, I know of none that are “official”.
Call us if you hear about a “REAL” First Time buyer program that would assist our real estate buyers with their down payment, payment of all or a portion of their closing costs, anything at all and we will be glad to verify and then let The Paris911 Team at REMAX of Valencia CA Realtors know!