Unpacking Unknown Detroit Mortgage Programs – Briyana Jordan

On this episode of The Closing Table, we sat down with Briyana Jordan!

To watch the full episode, check it out on YouTube below. In the meantime, here’s a summary of the conversation…

Here’s what you missed from Briyana Jordan…

The conversation starts with a this or that icebreaker on self-motivation, resourcefulness, and more. Serving the metro Detroit area, Briyana is helping shed a new light on living within the city limits of Detroit by educating people about the new programs that are available. Detroit is a beautiful city with new developments, and many programs and incentives are being offered by the city to encourage people to purchase homes within the city.

Briyana shared some example including the newest program gives first time homebuyers $25,000, which covers both the closing costs and the downpayment, making home buying easier and more accessible. There are only a few requirements needed in terms of credit score and income limit. Briyana also discussed the Bank of America affordable solution loan program, which offers 100% financing and covers the 3.5% downpayment and all closing costs, leaving the buyer responsible only for taxes and insurance. The income limit for this program is 100k. Additionally, some homes are already pre-qualified for 100% financing and paid closing costs, thanks to their connection to the Bank of America loan program.

When it comes to the challenges facing both buyers and sellers in the Metro Detroit area, there are a few key issues to consider. For sellers, some common obstacles include ensuring their home is market-ready, getting the price they want, and finding the right agent to work with. Briyana helps sellers overcome these challenges by offering expert advice on staging and marketing their homes, setting realistic prices, and connecting them with trusted real estate professionals. For buyers, the market is currently very competitive, with multiple offers and bidding wars becoming increasingly common. Some buyers also experience cold feet, hesitant to let go of low-interest rates. When it comes to the types of properties in high demand among buyers, Briyana notes that every client is different, but open floor plans are always a popular feature.

One important piece of advice Briyana offers to all clients is to get a Sewer Scope during their private inspection. This is a specialized inspection that can identify potential issues with a property’s sewer system, which can be very costly to repair. If a client likes a home but the Sewer Scope is insufficient, Briyana guides them on how to handle the situation, whether it’s negotiating with the seller or deciding to move on. Ultimately, she helps her clients navigate the complex world of real estate with expert advice and support every step of the way.

When it comes to buying or selling a property, there are many potential challenges that can arise. One key element of the process is the title search, which is a search of who owns the property. Briyana ensures that she conducts a thorough title search before even beginning to assist her clients, to make sure there aren’t any liens or outstanding mortgage payments that could delay the process. However, sometimes a lien or other issue can be discovered later in the process. In this situation, Briyana shares how to manage the transaction to ensure a smooth outcome for all parties involved.

Another potential challenge for buyers is the risk of losing a deposit if a purchase falls through. Briyana shares a story of a failed purchase and how she helped her client (the seller) secure the deposit. To avoid this situation, buyers need to work with a skilled and experienced agent who can negotiate effectively and ensure that all details are taken care of. Briyana advises clients to be open and honest with their agent, no matter how small the issue may seem, so that they can receive the best possible support and guidance throughout the buying or selling process.

The conversation concluded with the two talking about how Briyana stays informed about new developments in the Detroit area that could be beneficial to homeowners or potential homebuyers. She mentions several ongoing projects, including the Riverside subdivision and the Jefferson project, which is one of the biggest. She also notes that there is talk of a new mall coming up.

Check out Briyana Jordan:

https://www.facebook.com/briyana.jordan

https://www.facebook.com/BriyanaJordanRealty

https://www.instagram.com/briyanajordan_/

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