Dear All,
Within the context of selling a property. Not all is as it seems. It is not always just about the numbers. Selling a home or investment property can be an emotional experience. Thus, beyond the numbers is Emotional Value. The following is my psychology perspective, snippet context below.
For a developer
· the total time to complete a project; from planning, funding, acquiring, design, approvals, building and after settlement support, may be measured in years. A feat achieved by highly dedicated teams
· a focus over thousands of hours over looking very detail
· passion over design, function, buyers profile, naming the project, brand loyalty
· work ethic; long days – endless nights considering solutions
· managing stakeholders including funders, whom appear to be primarily focused on the numbers
· significant in scale, the sum of it all, almost drives some to breaking point
· achievement, the result, the art, beautiful to look at and experience
· …such pride
For a property owner
· purchase of first property, surreal
· living in a family home for a generation or more, the stories
· safety
· family and friends’ gatherings
· children’s laughter
· grand parents’ wisdom, culture, transfer of understanding
· property equity gains over the years
· disagreements, unreasonable, irrational claim to share of the property
· a forced sale; i.e. mortgagee in possession (MIP) – generally speaking the sale happens at a price less than valuation – equity wasted
· the hardships, the breakthroughs, the tears, heart breaks, separations
· …experiences, memories for generations
No. Developers and property owners do not sell just based on the numbers. For varying reasons, instructions are given: do not want to sell to that buyer. And, yes, I want to sell to that buyer.
It may also be about tomorrow – the memories, the legacy. The property seller sense the buyer’s hope and that the buyer will appreciate the property. For some property sellers, it is also about extending COOPERATION; willing to help the next Owner and our social-fabric.
Our assumption
AffordAssist took a risk. It assumes property sellers care enough about the next generation, have enough equity or would be open to a Deferred Deposit Property Sale, i.e. the property vendor defer receipt of the balance of the deposit typically over a 60-months term, always without receiving any interest. i.e. Pay It Forward.
Actual experience, 8 years on in Australia:
Property sellers do care about the next generation, have enough equity and are open to at least consider an offer. Gain access to more qualified buyers and can contribute to the next generation, as their own children may in due course participate in a purchase. A pleasant surprise or is that who we are; people cooperating with people. Paying it foreword for the next generation. With respectful communications, education, education and more education – our experience is ‘1-in-?’ property offers are settling with an AffordAssist deferred deposit solution. The ‘?’ is effort. Working together with an approved Buyer’s Agent or Property Procurement Manager represents the best possible opportunity for offer acceptance.
Governance + Systems
For the mortgage adviser it is business as usual.
For the real estate agent it is also business as usual.
AffordAssist manages the deferred deposit.
Impact
Who would have known. It turned out that something radical, something audacious, something within our social-fabric, family spirit is exactly what is needed today. The AffordAssist interest-free Deferred Deposit Solution is helping increase home ownership. And, our next generation.
Regards
AA
B2B – AffordAssist facilitates and oversees the governance process. Are you a mortgage broker, lender, developer, real estate agent, affordable housing advocate, a community leader or housing minister? Pair your services with AffordAssist. Join us in our mission to expand access to home ownership. Together, we can make a lasting impact.
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