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Home Buying Process
Select your Realtor ..
Obtain Mortgage Pre-Approval
Determine Time Frame
MLS For Sale
By Owners TBG
Show You The Best Available
Choose Your Dream Home
Negotiate Your Offer & Acceptance
Complete Due Diligence
Negotiate & Resolve Contingencies
Obtain Loan Commitment
Home Buyers Warranty Insurance
Final Walk Through
Prepare Your Offer
Before We Begin Your Home Search Process, I Will
.meet with you to discuss the process of home buying. Even though you may have purchased a home before, the process is constantly changing and is practiced differently from state to state.
.assess and discuss your needs, such as neighborhoods, home styles, accessibility, schools, shopping, and other issues that are important to you. I know you are busy, and I want to minimize the time you spend finding the right home.
.explain the standard Colorado Contract Forms and Addendums so we are able to move quickly when it is time to create a contract proposal on the home you want to buy.
.provide you with information on properties currently for sale, and sold comparables to help you decide the best offering price.
.explain purchase and closing costs and estimate those costs for your purchase.
.refer you to a reputable lender so you may obtain a mortgage pre-approval. If you already have a lender you are doing business with, I will counsel with you, as necessary, to provide you with assurance that you are obtaining the best possible loan with the least associated costs.
Once youve evaluated your priorities, its time to hit the streets with your search criteria. If youve done the preparation to get to this point, the actual physical search for your home can be short and sweet. Heres the process I follow to find the homes that meet your guidelines: The first thing I will do is put the given specifics into the computer. Within a few minutes with the aide of MLS (Multiple Listings Service), I will be able to print out a list of the homes that match your desired profile. As you walk through the house, feel free to open the cabinets and closets. Most often the sellers will be absent, but should they be present, they will understand your need to examine everything carefully. When a house appeals to you, make notes. It is easy to forget details. Often, there will be a brochure available for you to take which helps you recall notable features, and, whenever possible, I will have given you a copy of the MLS information on the homes you are viewing. Dont be surprised if the first house you see is the perfect one for you, and dont be discouraged if none of those you visit the first day are what you want. I am committed to finding the one that you will want to call home and will work diligently until you find it. Usually, I will be able to find the house of your dreams rather quickly and will find 3-5 homes that best fit the desires you expressed.
5 Great Reasons to Be Pre-Approved
* You will know in advance what your payments will be. * You wont waste time considering homes priced above what you want to pay. * You can select the best loan package without being under pressure. There are many options to choose from in todays market. * Sellers will find your offer to purchase more favorable if they know in advance of your ability to secure financing. This may make your offer more competitive if other offers, are being considered. * Peace of mind. Borrowing money is never an easy or exciting thing. Finding your home will be easier and more enjoyable if the loan process is behind you.
During the Home Search ...
* Discuss the benefits and drawbacks of each house in relation to your specific needs. * Keep you informed on a regular basis. * Check the MLS data base and with other brokers daily for new listings that meet your criteria. * Prepare an itinerary and tour map on which homes meeting your criteria have been located. * Keep you up to date on changing financial conditions that may affect the housing market. * Be available to answer your questions or to offer assistance regarding your home purchase. * Discuss market trends and values relative to properties which may be of interest to you. * Assist you with homes offered For Sale By Owner. Many times a homeowner will work with an agent representing you, even though the seller is not being represented by an agent. If you should see a For Sale By Owner and want the advantages of our services, please let me contact the owner and set the appointment. * Show you new houses as well as pre-owned houses. * Introduce you to local builders to discuss building your next home. I can work with most builders and can get all the information you need to make any decision, but I will need to accompany you to the property on the initial visit. By letting me help you with builders, you get all the services offered in this presentation and those offered by the builder as well. Youll get more, but you wont pay more for it.
Let Me Help You!
Days or weeks may pass before you find the right house; however, dont become discouraged. During this time ,your senses will be in tune to all the houses for sale around you. Remember to always include us in your search. If you want information, call the office and I will get it for you. What you dont want to do is inadvertently become obligated to purchase a house though another broker who has not counseled with you and doesnt represent your best interests.
Hear about a property for sale? Give me a call, and I will search out the
details for you!
See a Sign? I can show you properties that are listed with us or any broker in the state. I
can also assist you in For Sale By Owner
Media Search? I can help you with any house you read about in the paper or see on the
internet, no matter what company or individual is marketing the home. In fact, let me know the
address, and Ill find out all of the details!
Want to visit an Open House? If I cannot accompany you, please be sure to inform the Host/Hostess that you are working with me. They will appreciate your up-front consideration of their time.
Want to tour a New Construction project? I will need to accompany you to the property on the initial visit. By hiring me to represent you, you will have the benefit of an advocate, rather than surrendering yourself to the builders representative, who, by law, works/represents the builder only. By letting me help you with builders, you get all the services offered in this presentation, as well as those offered by the builder ... without paying more for it!
In negotiating the purchase of your new home, the initial step will be to make an offer to purchase. This offer must be in writing and accompanied by an earnest money check to show good faith. The offer will include: 1. The amount you are willing to pay 2. Financing terms 3. Any personal property specifically included 4. Loan commitment date 5. Closing and occupancy date 6. Other contingencies, including inspections I will write your offer on a standard Colorado Real Estate Commission contact form. If you choose a new builder home I will advise you during the preparation of the contract. If your initial offer is not accepted by the seller, I will try to negotiate further to reach terms agreeable to both you and the seller. When you and the seller agree on terms, then you will complete your mortgage application and arrange for an inspection.
Earnest Money Deposit When we write an offer on a property, you will be required to tender a deposit in the form of a personal check or good funds. The amount deposited will be kept in the trust fund account of the listing company or title company. This money represents your sincerity in the attempt to purchase and is fully refundable if the offer is not accepted, if your loan is not approved, or if some other condition of the contract is not met by the seller. You should anticipate a minimum of $1,000 for homes under $100,000. In homes over this price range, expect to deposit one to five percent of the purchase price. The check will be made out to the listing or title company. The earnest money will be credited to you at closing as part of your down payment and/or closing costs.
Inspecting Your Home Its easy to make sure the house youve chosen is a smart buy. By having an inspection, the houses vital systems are checked. An inspection allows you to purchase your home with confidence. I will help you set one up after you have chosen the house you like and the contract has been accepted. I recommend the following minimum standards when choosing an inspector: 1. Membership in ASHI (American Society of Home Inspectors) and adherence to its Standards of Practice and Code of Ethics. 2 Written report at the time of inspection.
What is Title Insurance? Title insurance is the best way to protect yourself against title defects that have occurred in the past, which may not appear until after youve taken ownership of the property. Before a title insurance policy is issued, a title report is prepared based on a search of the public records. This report gives a descripti