Buying A House With No Down Payment and No Closing Costs

First Time Home Buyers With No Down Payment and the Monkey Tree


Watch this video to see how our clients were able to purchase a new house in Snohomish, WA on .5 acre with 0 down.

In this video Joe Kiser interviews Jason Fox to share the story of how the Gauthier family purchased a home in Snohomish, WA. And how a Monkey Tree plays a part in the story.

This couple had been looking to buy a house for a couple years.  They had hired a real estate agent last year and had went pending on a house that did not meet their expectations after the inspection.  After months of looking and having no success they decided to wait a year.

They were introduced to us by a fellow industry member.

If you are a first time home buyer or just want to brush up on the process consider reading our how to buy a home article:

There were many variables to this deal… like most. We want to share some of them with you and how we used our skills and knowledge to overcome any difficulties to make sure that our client got the house they wanted at the best possible price.


I'm gonna talk to you about our 00:00 most recent sale and tell you kind of 00:02 how the process went Jason took the lead 00:05 on it so I'm gonna go ahead and 00:06 interview him

Jason tell me 00:12 about this couple that you helped.

00:14 They were a referral from an industry 00:16 professional and so right off the bat 00:19 there's a little bit of pressure.


We 00:21 want to make sure you get them into a home 00:23 and a good deal.


They're a young 00:26 couple newly married first-time 00:30 home buyers currently living in a 00:33 Motorhome.

00:34 Oh wow were they looking for another 00:36 mobile home or are they looking for a 00:37 home, what were their needs?

They 00:39 wanted to buy their first home and they 00:42 have two dogs so they wanted a nice big 00:45 yard and they wanted to be out in 00:47 Snohomish, WA and and they wanted a couple 00:50 bedrooms.

That sounds like 00:52 it's pretty competitive out there what 00:54 was their price point that they were 00:55 looking at?

They were 00:57 pre-approved at $350,000 or less.

01:04 Were you finding a lot of properties 01:06 that meant that those needs?

No, there 01:09 were just a couple of properties that 01:11 would pop up and most of them 01:15 didn't even fit into what we were 01:16 looking for.

Did you find something 01:18 that fit all their needs?

We did, 01:21 we actually found two.


01:25 The first one we made an offer on had 01:28 been on the market for about three days 01:29 and we came in and offered a full price 01:33 and asked for some concessions and that 01:38 one, unfortunately didn't pass the home 01:40 inspection for us.

Bummer 01:42 Were these buyers 01:44 cash buyers, were they working with some 01:47 down payment?  I mean that's a really 01:48 competitive market to be in.

They 01:51 were FHA zero down 01:56 buyers and not only where they zero down 02:00 but they didn't have any money for 02:02 closing costs and they only had about a 02:07 thousand dollars for inspection and 02:10 earnest money.

You have a first-time 02:12 home buyer that's referred to you from an 02:13 industry professional, somebody 02:15 that actually has high standards of what 02:17 you're gonna do and they come to you 02:19 with no down in the most competitive 02:21 price range out there?


02:24 With some significant needs for their 02:26 family, their dogs 02:28 That must have seemed pretty challenging?

02:30 It did, honestly when we took them on, and 02:33 and I know you're interviewing me Joe 02:35 but we talk about everything we do 02:37 together, but when we when we took them 02:40 on we were kind of like oh wow 02:42 you know this is this one seemed a 02:44 little bit impossible.

Yeah 02:46

What did you do, how did you make that 02:48 happen?

The second 02:50 house we went to look at is actually the 02:53 very first house that we looked at.

Oh 02:55 that's funny.

Yeah, and what was kind of 02:57 cool about it is that this house was it 03:01 had a monkey tree. 03:04 The monkey tree was underneath 03:08 this giant cedar, it was very oddly placed, 03:11 you remember.


Ss soon as 03:13 they saw it they were like, oh we had 03:15 really hoped our first house would have 03:17 a Monkey Tree in it.  I 03:19 was thinking, first house, has this Monkey 03:22 Tree oddly placed,  it's 03:24 almost like you guys are destined for 03:26 this house. They decided not to go 03:28 for it that day and it had been on the 03:30 market quite a long time about 146 days 03:33 at that point. We came back to this 03:35 original one that had sold.


03:39 Right it went pending but it came back on 03:43 market and they said, hey maybe we should 03:45 go look at that one again.

Why did 03:48 it come back to market?

That buyer was 03:50 a VA buyer and 03:53 it did not pass their appraisal. We 03:56 put an offer in contingent on a brand 04:00 new roof being put on, a 30-year roof, the 04:03 siding being completed, the crawlspace being redone and 04:10 other things that popped up. We also 04:12 asked for all of our closing costs.

You 04:16 mean they were able to get in with a 04:18 thousand dollars earnest money, 04:20 on a house that was getting pulled off 04:22 the market, 04:23 that had all those problems and we were 04:26 able to cross all those things off and 04:27 still get the buyers in the home?

Yeah. 04:29

That's pretty amazing!! 04:31 If you're thinking I have no 04:33 money I need to buy a house but I'm 04:35 getting out priced there's no deals left 04:38 that's just not the case. Jason and I are 04:40 both here to tell you if home ownership 04:42 is a dream of yours we will work hard to 04:44 make that happen for you.

Thanks for 04:47 watching.

Thanks for watching

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About the Author

Jason Fox

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"The best way to find yourself is to lose yourself in the service of others." ~ Gandhi [ Recognized as a top 3.5% agent in the United States. ] [ Jason Fox was born in Everett, WA currently lives in the Meadowdale neighborhood in Lynnwood and has lived in different parts of the Puget Sound area in between. He has been in the real estate industry for 20 years in many different capacities. From General Manager of a real estate CRM engagement business, Founder of 2 real estate marketing agencies, nationally recognized blogger with the Jason Fox Real Estate Marketing Blog, Marketing Manager for a top title and escrow service. ] [ Jason is now an award winning residential real estate sales agent, Co-Founder of The Madrona Group, Co-Owner of John L. Scott Ballard and John L. Scott Westwood. ] [ Active in the community, Jason is a proud part of the Autism Speaks effort to raise awareness for autism. This project is very dear to him as he has an 8 year old son, Hudson, diagnosed ASD. Jason is also involved with Neighbor's in Need, the Forgotten Children's Fund, WELD Seattle and the Union Gospel Mission assisting the homeless population in the greater Seattle area. ] [ "My passion is being able to give back to the community that has given so much to me." ] [ When he is not assisting his friends and family with the services of home ownership he loves being a dad to his 4 children, Carter, Rowen, Tyler and Hudson and being a husband to his amazing wife Sarah. Hiking, working around the house, cheering for the Seahawk's, Mariners and Huskies and golfing. ]

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