Occupying Vacant Homes For Veterans – Kristi Roberts

On this episode of The Closing Table, we sat down with Kristi Roberts!

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 Kristi Roberts…

The conversation began with a this or that icebreaker on networking, marketing, closing skills, and more. Kristi then introduces herself as a licensed realtor since 2010 and the founder of a boutique brokerage that opened its doors in 2017. Her group of agents, established in 2018, is based in Howell, Michigan. Despite being a busy mother of 5, Kristi is also a top-producing realtor who is heavily involved in her work.

Located in the center of Ann Arbor and Lansing, Howell serves as the hub of Kristi’s business operations. Her brokerage works predominantly with veterans, as evidenced by the fact that 60% of their business over the last 5 years has been veteran-based. Although they have a broad reach and can be found anywhere, the office culture is family-oriented, which means that they prefer to focus on clients within a closer radius. This approach allows them to maintain the family vibe that is so important to them.

When it comes to making an offer as a first-time homebuyer, there are a few things that can make your offer stand out among those of repeat buyers. Kristi shares her experience and insights on this topic, explaining that the key to success is educating the client upfront and preparing them for what they need to do once they’ve found the house they love. This includes creating a roadmap with the client to structure a plan of action and balance the negatives with the positives to ensure a smooth process.

During the discussion, Kevin asks about the difference between an earnest money deposit and a downpayment. Kristi explains that the earnest money deposit is like a good faith deposit, which is typically held by the buyer’s agent or title company until closing. This deposit shows the seller that the buyer is committed to the purchase, and the more money put down, the stronger the offer looks. In contrast, the downpayment is not paid until the closing. If the buyer defaults on the contract, the seller may have the right to keep the earnest money deposit as compensation for taking the house off the market.

Next, Kristi debunks some myths and misconceptions about homebuying. One of the most common misconceptions is the belief that 20% down is required or common. When asked about the penalty or fee associated with not putting 20% down, Kristi explains that it will affect the private mortgage insurance (PMI) that is required by most loans. The amount of PMI will vary based on the downpayment amount and credit score. Another topic discussed is the average closing costs and ways a buyer can offset these costs. Kristi suggests some strategies that can be helpful in a seller’s market and emphasizes the importance of having a game plan with finances.

Following that, Kristi addresses the question of when is the time NOT to buy a home. She emphasizes that buyers need to understand their financial position and the additional costs involved in buying a home, such as closing costs and home maintenance. It’s important to have a game plan with finances and to avoid buying a home if you’re not in a position to pay for it. Ultimately, it’s not always better to buy than to rent, and buyers need to consider all factors before making a decision.

Kristi also discusses how KNE Realty puts a priority on veterans and their ranking in the top 1% of VA agencies. She explains how veterans are a priority for her agency because they have earned their down payment with their service and sacrifices, and often get pushed aside in the buying process due to lack of large down payments. Kristi sees it as a personal mission to thank them. When asked about what makes their agency rank in the top 1% of VA agencies, Kristi explains that the key is a simple rinse-and-repeat approach, focusing on turning houses into homes and clients into friends.

The conversation wraps up with Kristi sharing that while finished basements are desirable to buyers, they don’t add as much to the home’s appraised value as they do to the market value. Appraisers don’t consider finished basements as livable spaces, unlike buyers who want them. And lastly, Kevin asked Kristi of drive trumps talent, to which she answered, all day everyday.

Check out Kristi Roberts:

https://www.facebook.com/kristi.crowe

https://www.facebook.com/homesbykristiroberts

https://www.instagram.com/kristicroweroberts/

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