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Drama abounds in the real estate game

Drama abounds in the real estate game

When you find yourself finding a house with financial ties to other family members, it can get dramatic.

Can you say DRAMA?

Because nothing says “DRAMA” better than the spring real estate market. Unless you want to bring up reality TV, which is somewhat less than real.

If you could tap into the experiences your friends are having as they try to buy or sell a house today, or God forbid, do both at the same time (Double Drama), you might wish these vignettes were videotaped. Or posted on YouTube. Where they’d immediately go viral.

What about the drama between you and your husband?

You want a four bedroom home for your family of five, which would be an upgrade from your cramped condo. Your slow-to-come-to-a-decision husband thinks you can hang on until the kids are grown and gone to college.

Which, for your youngest, is a mere 12 years away. Why pop for the big pad when the empty nest is so near?

Wow. Think that’s not a conversation fringed with drama, tension and even classic examples of raised voices and colorful language? You nailed it.

What about the drama between you and your relatives?

Modern families come in all formats. Stepparents, foster children, fathers-in-law, outlaw sisters, single parent with parent, and the list goes on.

So when you find yourself finding a house with financial ties to other family members, it can get dramatic. Compounded by scheduling logistics, shared and individual bank balances, and currently rising home prices.

When one family member is willing to go as high as it takes to get the house, others may be freaked out. And just when your offer gets accepted amid five other offers, a reluctant family member suddenly puts the whole shebang on the skids.

Bye-bye house. Hello to staying part of the family.

What about the drama between you and your lender?

Yes, Virginia, you have to tell your lender everything about your financial situation.

You must provide actual physical copies of your tax returns, pay stubs, bank statements, credit reports, and proof of employment. That means someone may actually call your company to verify that you work there.

The Orange County Register – News Headlines : Real Estate News