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HeloCaptain

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Written about Moe Archambault on 01/30/2012
Bought a Condo home in 2009 for approximately $400K in Manchester, NH.

In 2009, while visiting a friend near Manchester, NH, my wife and I decided to look at real estate. We were residents of California at the time, recently retired and looking to flee California.

We looked at several condos (we travel a lot now and did not want to worry about yard care, nor did we have any interest in learning to shovel or plow snow).

While surfing real estate sites on the internet, we stumbled across a condo that was near our hotel.

Subsequently, we made arrangements through Moe's office to have a viewing of the condo.

We were extremely impressed with the condo! It was built by LaMontagne Builders, completed in late 2007, and had been leased for about ten months. We did not want to rush into such a major life change, so we decided to give ourselves time to consider all aspects of the move.

The more we talked about the home, the more inclined we were to move forward with the purchase.

We had great appreciation for NH as a state that is retiree friendly, has a low total tax burden and is very interesting historically and geographically.

The condo itself was very impressive, It was extremely well built, had many desirable energy efficiency features and was, simply, beautiful.

Two months after our first viewing of the home, we phoned Moe from California and made arrangements to travel to NH for a more intense viewing of the home and a commitment to ourselves make a decision.

After our detailed viewing of the home on our re-visit, we decided that we wanted the home. We were so impressed by the quality construction of the home, the thoughtfulness that was apparent in so many details of construction, it was simply a must have. We loved the "open" floor plan, the oversize master suite, the large garage, and - to make sure this three story condo could be a life home - the builder included a private elevator with each unit.

Even though Moe represented the builder, we decided that we were very comfortable with him. We did discuss with Moe the potential for conflicts and we were pleased with his responses, so we wanted to stick with Moe as our agent as well. [A wise move as it turns out!]

Before we left NH on this visit, through Moe, we concluded our negotiations which resulted in what (we still) consider a very fair price.

I called Bank of America, where I have done business for years, started the loan process and started making plans to move to NH. Because of our ability to pay 25% down and excellent credit, BofA assured us that it would only take 30 days or less to complete the mortgage process.

Almost three months later, BofA informed us that they would not issue a loan on the home due to internal policies that had existed long before we even applied for a loan. In other words, BofA wasted our time and the resources of numerous BofA employees, only to issue a rejection based solely on bureaucratic internal policies. [The issue: BofA would not issue a loan if the builder owned more than 10% of a condo development. Our unit was one of nine, so if the builder owns one, he owns more than 10% of the units. Gee, I wonder why my BofA stock is so depressed.]

Moe referred us to Wells Fargo's Jason Sculos, the local branch manager. I explained the issues to Jason, and he was confident that Wells Fargo would be able to complete our mortgage transaction.

They did.

The process (beginning to end) was not trouble free, but Moe was able to respond to issues quickly and resolve them quickly. These included the fact that FEMA initially reported the home was in a flood zone. Through Moe's efforts, the builder, working with his engineers and the city was able to get FEMA to acknowledge that they were wrong, it is NOT in a flood zone. The appraisal was a challenge, since, even by the admission of the appraiser, there were simply no valid comps.

Moe made all these problems go away. I was in CA, so I didn't get to monitor his activity directly, but I did see the quick results from his intervention.

We have been in our new (condo) home for more than two years now. We only love it more! LaMontagne Builder's build a very high quality home. We have even greater appreciation for the construction quality after living here for more than two years.

Moe was a true professional. He made the process as pleasant as it could be and was a great problem solver.

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