Today may be the biggest single day that hundreds of people find out at the same time that they will be living in St. Louis for the next 3-6 years. Almost like the military giving orders or the NFL draft, new MD’s pick their favorite residency programs and locations, and likewise, the residency programs at SLU, WASH U, St. Lukes, MERCY and St. Mary’s pick their favorites. The matching service does the rest.
This organized chaos is something we’ve helped medical residents and fellows with for several years.
Truly, a home buying process for a medical resident is nothing like the traditional home buying process. Without a buyer’s agent that has a unique understanding of the needs fo an incoming resident, there could be problems.
Last week I showed a home in West County. I was told by the agent that the owner was a physician that had to sell because he had purchased too far away from the hospital. Another physician we assisted in the selling process had a buyer’s agent that put him in a community he never liked at a price he would never be able to resell in. Lots of problems can arise if the process isn’t handled correctly. Knowing the unique criteria and timelines that residents have, along with their special financing requirements is crucial.
We started a section on our website especially for medical residents to help them avoid the pitfalls of home buying that can take place due to their difficult and fast paced process of relocation. Visit it or pass it on to a medical resident!