Colorado Buyer's Guide
Pre-Approval sets you up for success by
- Quickly Targeting your Buying Range
Knowing this criteria alone saves you hours of time & energy by focusing on the right homes from the start.
- Significantly Increasing your Negotiating Strength
Make Incredibly Strong Offers by touching on 2 Hot Buttons of every Seller, a CASH OFFER and QUICK CLOSING.
Buyer 1
(Pre-Approved)
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Buyer 2
(Contingent upon financing)
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| $150,000 |
$150,000 |
| CASH OFFER |
Conditional Upon Financing |
| QUICK CLOSING (14-21 Days) |
Standard Closing (30+ Days) |
Which offer would YOU accept?
Required Financial Information
- Completed Application
- Last (2) years tax returns & W2's
- Most recent pay stubs representing 30 days of pay
- Most recent 3 months bank statements for checking & savings (all pages)
- Most recent account statement for investment/retirement accounts
- If Self-employed: Last 2 years tax returns w/1099's and current P&L
Depending on your situation, more information may be required
Questions to ask:
- What monthly payment can I comfortably afford?
- What kind of loan program is best for me?
- Is a No Down Payment program a good option?
- What kind of interest rate will I have?
- How can you set me up for long-term financial success?
Buyer Profile System - You're Always in Control
- Tell us your Home Buying Criteria
- We Set Up your Profile in our State-of-the-Art computer program
- Each night Our Program Searches the entire MLS for homes that match your criteria
- We Send you Every Match on a weekly basis
- Read through the listings, pick the homes you like & Drive by Them
- Tell us which homes you want to tour & We'll Arrange a Showing
- You're in Control of the process the entire time
The Multiple Listing Service (MLS) literally has thousands of homes for sale. You don't have to worry about looking at hundreds of homes that may or may not meet your criteria or risk missing out on The erfect One. We'll save you hours of time by doing the search for you...all according to your exact home buying criteria.
While You're Shopping...
Take the time to look around. See what's available and what looks good to you. Often, you can get a very good idea about a home by driving by it, talking with the neighbors and getting a quick feel for the area. When you find a home you like, simply let us know and we'll take care of the rest!
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Things to consider:
- First impressions (the feelings you get from a home right away)
- Neighborhood appearance
- School District
- Distance to local amenities (Groceries, etc.)
- Home Owner's Association Dues and Requirements
Questions to ask:
- Can this home grow with us?
- What are the average utility bills?
- Talk to the neighbors: "How do you like this area?"
- Will there be any major updates coming due? (roof, heating, etc.)
When You've Found the Right Home... We'll write up an offer
- We sit down together and discuss your thoughts and concerns
- Then we'll translate those ideas into financial and legal terms
- We put them to paper by writing up the offer
- The offer is sent to the Seller with a deadline for an answer
- The Seller will then Accept, Reject or make a Conteroffer
- Accepted - Congratulations! Move on to Step 4
- Rejected - The Seller said "No"...we can continue dialog with the Seller or move on to another home
- Counteroffer - The Seller is interested but not enough to Accept the offer outright...they give you their idea of a fair offer
The Contract to Buy can be a little overwhelming at first. If that's the case, then don't worry...we'll take the time to go over it with you step by step. If you have any questions at all, just ask. We're here to help!
The Art of Negotiation
Many times the first offer is not accepted. It may take several rounds of offers and counteroffers before an agreement can be reached. This process is called Negotiation. It's important to tell your agent what issues matter most to you before you make an offer. Then, when the process begins, we can work to make sure you get those priorities in the end.
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Things to consider:
- Price
- Repairs
- Concessions (asking the Seller to give you something...usually money in return)
- Closing/Move-in Date
- Closing costs
- The Seller's needs...satisfy them and you have a deal
Questions to ask:
- What's my absolute limit for the items above?
- What do I NEED to be happy with a deal?
- What do I WANT that would be nice, but not necessarily a deal-breaker?
- What issues matter most to the Seller?
- Am I emotionally tied to the outcome?
- This can make your negotiating position difficult
- If so, DO NOT let the Seller or their Agent become aware of it
- Do I have a time line or can I afford to wait through a longer negotiation?
You Got an Accepted Offer... Now We Take Care of the Details
- Time to checkout the home and take care of the loan
- We learn all the nuances of the Home and the Property
- What do we look at?
- Home Inspection -A Professional Detailed Analysis of Every aspect of the Home (structure, roof, heating, plumbing, etc...)
- Title Report - A list of people or companies that make a legal claim on the property (liens, deeds, etc...)
- Appraisal - Value of the property, as determined by a professional (based on similar properties, condition of the home, etc...)
- Your lender readies the loan for closing
- Calculates exact payment amounts
- Prepares the loan documents
- Helps set up your Home Owner's Insurance
Things to consider:
- This is a busy time...Your TC will need your input
- Communication is the key...try to be available...and ask questions freely
- You can renegotiate issues that arise from the Home Inspection
- Meet with us to discuss Inspection issues and future considerations
- If we need to renegotiate, we'll go through Step 3 again
- Choose a Home Owner's Insurance Policy
- Closing costs
Questions to ask:
- What does my loan look like now that we've settled the contract?
- Are there immediate repairs needed on the home?
- What are upcoming home expenses? (roof, water heater, etc.)
- What sort of Insurance Policy do I need?
Last Step...Paperwork and Your New Keys!
- Contract settled, details handled...what's left?
- We'll meet you at the Title Company for the Closing
- We look through all the Documentation
- HUD-1 - A statement detailing every financial aspect of the deal
- Deed - The official record of new ownership
- Loan - Agreement, terms & schedule to pay back your lender
- Sign the documents to complete the transaction
- Get your new keys!
The closing process usually takes anywhere from 30 minutes to an hour from start to finish. There's a lot of documentation that goes with the purchase of a new home. We'll walk you through it, and as always answer any questions you might have.
A New Beginning...
Now that you've found your new home, it's time to enjoy the fruits of your labor! Some Realtors might see this as the end of the line, but we see it as just the beginning. You're part of our happy family now and we're always here for you. And When Home Buying or Selling needs pop up, We'd love to help Your Friends and Family, too!
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