A Doctor in the House

A Doctor in the House

Season 4 - Episode 8
Jan 30, 2024
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Backed by a physician loan, a doctor and her husband are set on a newly built home for their young family. New construction is REALTOR® Naja’s niche. Easy peasy until closing talks run cold. Now, Naja must negotiate a solution before her clients walk.

Naja (00:07):

On this episode, we are touring brand new builds in some of Chicago's historically rich and revitalized enclaves. This is Bronzeville. This block is almost all new construction. I'm realtor Naja Morris, a member of the National Association of Realtors. There's another house that will check all of your boxes if you all are down for it. I'm finding busy parents, Kimmy and Kofi, a spacious refuge.

Kofi (00:31):

I see this as my sanctuary,

Naja (00:33):

Your sanctuary,

Kofi (00:34):

Our sanctuary,

Naja (00:36):

But getting to the closing table is never a sure thing.

Kemi (00:39):

If we don't hear back from them within a week, you're out.

Naja (00:42):

I'll do my best to give this doctor and her husband the best medicine, a new home. Look at this beautiful pergola that gives you kind of serenity in a big city.

(01:04):

I am Naja Morris. I've been in real estate for 11 years in the Chicagoland area. I was born and raised in Chicago. Now I currently live with my family in the Bronzeville neighborhood. My niche is new construction and development, and I'm able to help those that are looking for a brand new property find the place that they call home. I just got off the phone with the seller and he said the renovations were almost complete. I love working with first time buyers. It is often the largest purchase of their life. I want them to know every single step that they can read in a first time home. Buyer's guide online. I want them to be excited and ready at the closing table and not nervous because they're informed.

Kemi (01:45):

I'm Kemi. I'm a physician.

Kofi (01:47):

I'm Kofi. I'm a chemical engineer

Kemi (01:49):

And we're first time buyers. We met five years ago on a dating

Kofi (01:52):

App. We got engaged and subsequently married. Decided to move into our Hyde Park rental.

Kemi (01:57):

We are a family of four and we need space. I really want a nice space for our family.

Naja (02:04):

They're really looking to stay close to where they live now. They want new construction or a gut rehab,

Kemi (02:10):

At least a four bedroom, three and a half bath.

Kofi (02:13):

Also, we have to have a two car garage, especially with the way Chicago winters are because currently I'm parking on the street and

Kemi (02:20):

That's a deal breaker. Kimmy

Naja (02:22):

Would really like the family to be within 15 minutes of her work. Bronzeville, Hyde Park, Kenwood.

Kofi (02:27):

We love the Hyde Park Kenwood area. If I want to take this beautiful lady out, I can do it like 10, 15 minutes. It's

Kemi (02:34):

A vibrant neighborhood. It's very close to downtown Chicago.

Kofi (02:38):

It's a can't miss opportunity.

Naja (02:40):

Kimmy who's a doctor qualifies the family for the physician's loan,

Kemi (02:44):

Which is great because this particular loan allows us to put down a lower down payment

L3: NEW DOCTORS PAYING OFF MEDICAL SCHOOL DEBT CAN QUALIFY FOR PHYSICIAN LOANS WITH LOW OR NO DOWN PAYMENT AND NO PRIVATE MORTGAGE INSURANCE

Kofi (02:50):

And then with that lower down payment, we're not going to be incurring any extra financing fees or PMI. We're pre-approved for 800,000, but we really want to set our budget no more than 700,000.

Kemi (03:02):

I just hope she can work with our busy schedules.

Naja (03:05):

They each had one day every month where their schedules overlap. That allowed for us to do some home shopping. This property we are about to see. I think Kimmy and Kofi are going to love the location of this home. So excited to show you this town home. So this is a Kenwood neighborhood situated off of Drexel Boulevard, which is one of our historic boulevards that is treeline a half a block from the lake.

L3: DREXEL BOULEVARD IS PART OF CHICAGO’S BOULEVARD SYSTEM, COVERING 28 MILES AND CONTAINING AROUND 540 ACRES OF GREENSPACE

Kemi (03:30):

Wow,

Naja (03:31):

You are 10 minutes away from your job. Can't

Kemi (03:34):

Beat that.

Naja (03:34):

And the home is four bedroom, three and a half bath. Three story town

              L3: 4 BEDROOMS, 3.5 BATHROOMS

              L3: $672,000

Kofi (03:39):

Home now. What about garage?

Naja (03:41):

There's a two car garage. Oh, yay. The price is 6 72. And

Kemi (03:47):

Is this our yard? It's a nice cute

Naja (03:49):

Yard. Yes. So this is your front yard and you also have a rooftop deck.

Kofi (03:54):

Oh, that's awesome.

Naja (03:55):

Alright, so let's check it out.

Kemi (03:59):

Oh, this is beautiful.

Naja (04:01):

This is your primary living space. Nice open concept. Lots of natural light pouring in floor to ceiling windows overlooking Drexel Boulevard.

Kemi (04:11):

Oh, at the fireplace.

Naja (04:12):

And what's really nice about this fireplace is it's electric, so it's virtually maintenance free. This

Kemi (04:18):

Is great. I love it.

Naja (04:19):

Speaking of modern, look at your kitchen.

Kemi (04:23):

Look at the cabinets.

Naja (04:25):

They actually do have handles. They have a hidden groove.

Kemi (04:27):

I like it.

Kofi (04:28):

Great economy of space. You got your dishwasher here, you got your microwave.

Kemi (04:33):

I can already see us having family time and spending time together as we cook.

Naja (04:39):

Check out this

Kemi (04:40):

Balcony. This is really nice. I love this space

Naja (04:44):

And it's really peaceful out here. Yes it is. We have two more floors. Okay. Should we check out the lower level first? Yeah. You have one bedroom, one full bathroom and storage.

Kofi (04:56):

Wait a second. Where's the rest of it? This is

Naja (04:58):

It.

Kofi (04:59):

This is it.

Naja (05:00):

What's really nice about this lower level is it's 100% above grade. So you have so much natural light coming in because the entire floor is above

Kofi (05:08):

Ground. I see what you're saying. I was still expecting more space,

Naja (05:12):

More lower level space or an attached to car garage in Chicago.

Kofi (05:16):

You raised a valid point.

Naja (05:17):

I think Kofi loved the attached to car garage and as an added bonus, it is blind with this graffiti that is from a local artist. So every garage in the development has a unique kind of spin. Let's check out the third floor. On this floor you have three bedrooms, two bathrooms, and a washer dryer hookup. The

              L3: MURAL BY: KRASER

Kemi (05:38):

Listing did say that came with the washer and dryer included.

Naja (05:42):

No worries. It'll be there before you close. Okay.

Kemi (05:46):

It's a cute space, but it's small. It's nice for our toddler now. But can this room grow with her?

Naja (05:53):

It is on the smaller side. However, it can accommodate a queen bed. I

Kemi (05:58):

Do like that the three bedrooms are all on the same level.

Naja (06:01):

Why don't we check out the primary?

Kemi (06:04):

Oh wow. Wow. This is nice. So much space. And look at these floor to ceiling windows.

Naja (06:12):

And this home is perfectly situated to see the central garden of the

Kemi (06:16):

Boulevard. It's beautiful.

Naja (06:18):

The primary en suite.

Kemi (06:21):

This is too small.

Kofi (06:23):

I dunno about you babe. But I was expecting at the very least, the double vanity. Double vanity, double sink. And we really don't need a bathtub. We're not bathtub people.

Naja (06:31):

Maybe there's an opportunity to replace this bathtub with that step in shower. Okay. Okay. Let's go to the rooftop deck.

Kofi (06:38):

Oh my goodness.

Naja (06:40):

The rooftop deck.

Kofi (06:42):

Is there a natural gas line?

Naja (06:44):

Yes. So you are equipped with gas? No. Lugging up those gas tanks when you'd like to grill water and electricity. I feel we can work with this. You can work with this. I

Kemi (06:54):

Love this. And look at this view. It's just beautiful.

Naja (06:59):

Tell me what you all think.

Kofi (07:01):

I love the rooftop. I see this as my sanctuary.

Naja (07:03):

Your sanctuary.

Kofi (07:04):

Our sanctuary.

Kemi (07:07):

The primary bedroom. That's a really nice space. The floor to ceiling windows.

Naja (07:12):

And you really like the design aesthetic in general, right? The modern feel. Yeah. Close to

Kofi (07:16):

Work. We do have the two-bar garage and it is attached,

Kemi (07:20):

But there are a couple of issues. Some of the rooms are too small. That primary bathroom also,

Kofi (07:26):

I don't think we're quite a hundred percent sold. I would really like to see another property if possible today. Well,

Naja (07:33):

You all are in luck. There's another house that I truly believe will check all of your boxes if you all are down for it. Okay. Are you all down?

Kofi (07:40):

Yeah. Yeah, we have time. Yeah, we'd love

Kemi (07:41):

To look at them. Yeah,

Kofi (07:43):

I'm going to try to keep open mind, but I got to have my sink. You got to have UC. Yes, we

Naja (07:47):

Do.

Kemi (07:48):

And we don't really

Naja (07:49):

Need a

Kemi (07:50):

Bathtub.

Kofi (07:51):

We are not bathtub people.

Kemi (07:52):

No.

Kofi (07:54):

And who knows, we may like the next house.

Kemi (07:58):

So

Naja (07:58):

This single family home is in Bronzeville. It's one of the most desirable neighborhoods of Chicago. It's appreciating rapidly. If they purchase now, they will have equity almost instantaneously. So now this is Bronzeville right next door to Kenwood. As you can see, this block is almost all new construction.

L3: BRONZEVILLE IS A HISTORICAL HUB AND ONE OF VERY FEW U.S. NEIGHBORHOODS EXPERIENCING ECONOMIC GROWTH AND REVITALIZATION WITHOUT DISPLACING ITS COMMUNITY

Kofi (08:20):

The scenery here is not as aesthetically pleasing as the previous place. I mean, is that the CTA line right there?

Kemi (08:28):

Yes.

Naja (08:28):

It's the CTA, meaning you have a train walking distance directly to downtown. You have for 7 29, 5 bedrooms, three and a half baths. A two car garage. I know it's a little bit over budget, but you have 3,600 square feet.

              L3: $729,000

              L3: 5 BEDROOMS, 3.5 BATHROOMS

Kofi (08:44):

We'll keep open mind.

L3: THIS BRONZEVILLE HOUSE IS 1,000 SQUARE FEET LARGER THAN THE KENWOOD TOWNHOME

Naja (08:45):

Alright, well let's

Kofi (08:46):

Check it out. Yeah, let's do that.

Kemi (08:51):

Whoa. Oh my goodness. Wow. I mean this is beautiful already.

Naja (08:57):

So you have 10 foot ceilings, crown molding, and this is a modern wain scouting and chair rail.

Kemi (09:03):

This is gorgeous.

Naja (09:04):

So this is your dining area. What the builder did is he provided a light. Well, even when you're in the kitchen, you have natural light pouring in. Speaking of the kitchen,

Kemi (09:13):

Oh my goodness. This kitchen is huge.

Naja (09:17):

Extremely modern. Cabinets beautiful. So you have a double island and as an added bonus, you have storage on both sides of your island. What? So all of your cabinetry opens up.

Kemi (09:28):

No way.

Kofi (09:30):

This kitchen is awesome.

Naja (09:31):

Should we check out the lower level,

Kemi (09:32):

Please?

Kofi (09:35):

Oh my goodness.

Kemi (09:37):

Wow.

Kofi (09:37):

Now this is a basement.

Kemi (09:41):

Wow, this is nice. Come watch your football games upstairs. Then I can come down here and watch my TV shows.

Naja (09:49):

You're taking it.

Kofi (09:50):

We can talk about that later.

Kemi (09:52):

Okay. Okay.

Naja (09:54):

You have two bedrooms down here and a full bath

Kofi (09:57):

Down there. Is that how we access the garage?

Naja (10:00):

So this is a detached single family home. So your garage is actually detached from the home.

Kofi (10:05):

So I got to shovel my way from the garage back here.

Kemi (10:08):

It's a

Naja (10:09):

Trade off. But look at all the square footage that you have in your lower level. Let's check out the second floor.

Kofi (10:14):

Okay,

Naja (10:15):

So this is a single family home. So you have three bedrooms on this level and a washer and dryer already installed.

Kemi (10:22):

Good.

Kofi (10:23):

Nice.

Naja (10:24):

And this is your second bedroom. Wow.

Kemi (10:26):

This is big. I love the windows.

Kofi (10:29):

The ceiling is high.

Naja (10:30):

You have vaulted ceilings. This

Kemi (10:32):

Is a really nice size room.

Naja (10:34):

And we have an en suite bathroom

Kemi (10:37):

And it's a shared bathroom.

Kofi (10:38):

Yeah, you got a double sink.

Naja (10:40):

You have a custom wall to wall vanity. You have your shower and here. So both of your children can be getting ready at the same time. No excuse for being late for school.

Kemi (10:49):

That's right. Exactly.

Naja (10:52):

The third bedroom.

Kofi (10:53):

Let's take me back to the smaller bedrooms at the townhome.

Naja (10:56):

Could you all work with

Kemi (10:57):

This? I mean, one small bedroom is better than two small bedrooms.

Naja (11:01):

That's fair. Check out the primary.

Kemi (11:03):

Look at this bedroom. This is huge

Naja (11:07):

Faulted ceilings. Recessed light. You have a beautiful modern chandelier.

Kemi (11:11):

I prefer the floor to ceiling windows in the other house. It

Naja (11:16):

Is a little smaller, but you have nice sliding windows that won't obstruct your walkway when you open it. The en suite.

Kemi (11:23):

Oh my goodness. Look at this bathroom. An actual step in shower.

Kofi (11:30):

Nice

Naja (11:31):

Look. You both can fit in there.

Kemi (11:32):

This is huge. Double vanity. Love the black and white. I wish this bathroom was in the other house

Naja (11:41):

And there's more.

Kemi (11:42):

Oh my goodness. Naja.

Naja (11:44):

Let's check out the backyard. So you have two finished outdoor spaces and you have a yard.

Kofi (11:49):

I don't know how I feel about the deck being so close to other people's decks.

Naja (11:53):

Well, it's a standard Chicago lot, so you do have neighbors on both sides. But look at this beautiful pergola that gives you kind of serenity in a big city.

Kemi (12:02):

This is a beautiful home. Just so gorgeous. But the town home too was beautiful. We love both of them. We just need to decide what works best for us.

Naja (12:13):

So why don't I give you all some time to think about it?

Kemi (12:15):

Sounds good. Alright,

Naja (12:16):

Thank you. Awesome. Of course,

Kofi (12:18):

Both homes have their pros and they have their cons. We have a really difficult decision on our hands.

              L3: KENWOOD TOWNHOME

              L3: BRONZEVILLE SINGLE-FAMILY HOME

Kemi (12:23):

Honestly, I blame nausea for giving us two amazing homes. Okay, babe. The townhouse in North Kenwood had the beautiful views on the Boulevard. It was just amazing.

Kofi (12:36):

But you remember they got smaller bedrooms for our kids.

Kemi (12:40):

This one has one bigger bedroom and one small bedroom. So really not that much of a difference. That's

Kofi (12:45):

True. That's true.

Kemi (12:46):

Now this Bronzeville house, the big basement, that is a huge selling point.

Kofi (12:51):

It was nice having a full floor, but we're going to miss out on having that attached to car garage.

Kemi (12:56):

We have to consider the price points, the townhouse 6 72 and this house 7 29.

              L3: $672,000    $729,000

Kofi (13:03):

Given all that we discussed, I think I know where I'm leaning towards.

Kemi (13:08):

Me too. I think I know which one. Okay, should we let Nara

Kofi (13:11):

Know? Yeah, let's do that.

Naja (13:13):

So

Kofi (13:14):

After much deliberation,

Kemi (13:16):

Yes, we are going with the North Kenwood town hall.

Speaker 4 (13:23):

I know.

Kemi (13:24):

We're so excited. Yes. I had

Naja (13:26):

A feeling they picked the town home. But of course they have a few modifications that they'd like to make. They'd like a partition installed on the rooftop so they have privacy. They'd like a washer dryer installed and most importantly, they would like that tub removed from the primary bathroom. So the listing price is 6 72. Where are you all thinking about coming in?

L3: OFFERS CAN INCLUDE “MUST-HAVE” CHANGES, REPAIRS OR OTHER CONTINGENCIES THAT CAN REQUIRE EXPERT NEGOTIATION

Kemi (13:51):

We're getting the physician's loan. So why don't we go with the asking price.

Naja (13:56):

Alright, so I'll give the listing agent a call and then I will get right back to you all.

Kemi (14:08):

So Naja just called We got the house. Yes.

                                                                                    L3: ONE HOUR LATER…

Naja (14:13):

Yes. I'm

Kemi (14:14):

So happy I cannot wait. The rooftop.

Kofi (14:17):

Oh yes. Oh my God. I'm going to start grilling. Yes, every single day.

Kemi (14:23):

Okay.

Naja (14:32):

There's been some drama. The seller's returnee is not being responsive. We have to iron out the few modifications that Kimmy and Kofi want and we're not getting a response.

              L3: ONE MONTH LATER…

Kemi (14:43):

It's been a month and we still haven't heard from the seller's attorney.

Kofi (14:47):

I mean, we don't know if we're going to get the modifications that we asked for in the offer letter. We don't know if that bathtub's going to be removed. We don't know if we're going to get the washer and

Naja (14:54):

Dryer. Everyone has their tipping point. Kimmy and Kofi are really frustrated.

L3: KOFI AND KEMI’S OFFER EXPLICITLY STATED THE MODIFICATIONS MUST BE MADE BEFORE CLOSING

Kemi (14:59):

If we don't hear back from them within a week, we are

Naja (15:01):

Out. I'm going into pool damage control. It's not a bluff. It's not a threat. Kimmy and Kofi will walk away.

Kofi (15:08):

I already sent out an email to our landlord to see if we can extend the rental. Another six months.

Naja (15:13):

I'm going to get the agent on the phone and we will have a resolution asap. Okay. I'm a really strong negotiator. I want to understand the motivation for that buyer or that seller on the other side of the deal so I can bring that to my client and so that we can package a deal that works for all. No seller ever wants to lose a buyer. We finally ended up on a conference call, the buyers, the sellers, and both the agents. We worked every point of contention out. Everyone's on the same page. And most importantly, my clients are happy at the final walkthrough. All the modifications are done. The washer and dryer was installed, that tub nowhere to be found and the home is ready for them to move in. As an added bonus, I got Kimmy and Kopi a $5,000 closing cost credit. Hey guys, your thoughtfulness and patience has paid off. Here are the keys. Oh

              L3: THREE DAYS LATER…

              L3: TWO WEEKS LATER…

Speaker 4 (16:17):

My goodness.

Naja (16:17):

Congratulations.

Kemi (16:18):

Thank you, Naja. I knew from the very first time I met you that you were the one who was going to get us into our dream house. So thank you. We're so grateful. Our family has a new home within months of meeting. Naja.

Kofi (16:31):

I think I could speak for the both of us. And I say that we're forever grateful. Yes,

Kemi (16:34):

We

Kofi (16:34):

Are. This experience has meant a lot for our young family. Working with Naja was truly a godsend. And right now I'm so ready to go on that rooftop and start drilling dinner.

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