#22 Unexpected Changes




The best way is to plan for change, but we all can point to examples in our lives when we had to cope with unexpected changes!

In the complex process of starting from ground zero, then moving all the way to home ownership, it’s probably a good idea to accept the simple fact that there will be changes you can plan through, as well as some that seem to develop unexpectedly --out of the clear blue sky...

Even with the careful and conscientious guidance of your Lender, your residential Realtor, your Title Company (and a dozen other professionals working with you in acquiring your home) unexpected changes still manage to happen.   They come in all contexts – and in various degrees of urgency.  

Some unexpected changes may originate on very personal levels, while others may involve circumstances you could not have influenced or controlled anyway – even though everyone on your team is striving for a trouble-free process.

While the process of buying a home can be exciting, generally a happy occasion and having more positives than negatives, it can also be extremely stressful.   Relationships can get testy, the developing responsibilities can begin to feel overwhelming and issues may arise that you just didn’t figure on.   

If this is your first experience buying a home, you may also be somewhat influenced by the experiences (positive or negative) of friends and relatives.  Sometimes, stories of the experiences of others can cause unnecessary stress by anticipating situations that probably will not take place.  So, try to remain focused on your own developing process, the guidance of your professional resources and the facts of your specific prospective purchase!

Maintaining a level head in the midst of managing important changes is key, and can be made easier when you lean on the capable professionals on your team.   You may discover that the necessary projected Insurance premiums are penciling out to much more than you were expecting, and higher than you believe you can manage.   There could even be changes in the “perceived value” of the property you are considering.

Unexpected changes in your Employment status, that affect your Income, are serious changes that relate directly to the basis on which your Loan was granted.   Your Loan Officer needs to know immediately in order to investigate the impacts and look into solutions.   When your status as a Borrower shifts it changes many factors.

Sometimes your purchase can stall in the Title search phase when problems involving the condition of the property are revealed.  There may be drainage, grading, property line and other questions that must be addressed, and that are frustrating to deal with.

Relationships may also change.   In the beginning of your process to buy a home, differing opinions and choices may put a wedge between partners, spouses and friends who are closely involved.  The dreaming and wishing aspect of the adventure can prove very different from the stark realities of cost and responsibility.    Changes in relationships may also change some of the basic considerations of your Loan,  and might change what’s possible.

These are just a few situations.   Another very real possibility could be simply a change of heart, for very specific (or very unexplainable...) reasons.   Whatever transpires – stark pragmatic circumstances, or emotionally based feelings and shifts – communicate with your Loan Officer with whom you have been working toward your original goal. 

Changes have ripple effects.  Some change everything, while others are quite manageable, requiring patience and skill.  Your integrated team is there for you and probably has answers for most problems that typically arise!

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