"I've heard there are good deals around, how do you buy a house?"

Services for Real Estate Pros with Longmont Real Estate

Buying this house seems like a good idea but how do I do it?

Having a successful and fun experience on your first purchase is what we strive for.....

To help ensure a great transaction, here are a few steps that will help you along your way, or simply help you understand the process.

1)      Find Your Realtor! I use the term Realtor and not Real Estate Agent because as few know, they are not the same thing. Realtors, in order to use this designation must meet a certain level of criteria and are held to a higher code of ethics. More on What is a Realtor?  When choosing a broker I would look at two things, referrals from those you trust (friends/family) and of course the most common way is to hit the internet. Nowadays you can find a wealth of information on companies and people like never before. We have Blogs, web pages, reviews, information on companies, valuable tools, etc. You will be able to quickly determine who is a professional in your area. Remember that WE are people too! We like to be involved in activities, have certain beliefs, specialize in certain areas of Real Estate that others do not and so on......basically, look for someone that you see yourself trusting through market knowledge and resources as well as able to share a laugh or similar interests with.....it makes the relationship that much better!

1)/2) I use the 1 or 2 here because you may also start with this, your mortgage broker. This is vital for both you the buyer as well as us the Realtors so that we know exactly what is within your reach from the start. It allows us to help set realistic expectations as well as helps you stay within a budget when comparing property. They will also provide you with a "Pre Qualification Letter" to use when you find the home you wish to put an offer on. Finding your mortgage broker or lender should start once again with those you know, referrals from friends/family and then the Internet. If you chose to find your Realtor before finding your Mortgage Broker, ask your Realtor who they recommend as they will have great local referrals of those they trust as well. Commonly this option may work the best as your Realtor will want to recommend a broker that they can be assured can get the job done with great results.

3)    Now you have your Realtor, what do you do? Well this will depend on how you and your Realtor have agreed to work. Basically you are ready to view properties. More than likely your Realtor has given you some options as well as a way to search for listings yourself.

4)   Offer and Negotiations Stage. Once you have found your property, your Realtor will work with you on coming to an agreement on what to offer on the property and at what terms. After submission you will either get your offer Accepted, Countered or Rejected. Rejected is fairly self explanatory. Accepted is also in that you are now "under contract" and on your way to home ownership. If the offer gets "countered" this is when negotiations come into play. The seller has looked at your offer and said "Hmm, well how about this instead?" You're Realtor and you will review counters to decide what is appropriate for your situation.

5)    Now that you are under contract there are several things to do, I will mention a few of them here.

-Get your Home inspected

-Review the title on the home

-Apply for homeowners insurance

-Optional Inspections for Radon Gas, Sewer pipes, etc

-Review and leases on the property if applicable

-Review the HOA documents and fees and ensure home is in good standing

-Finalize your loan application and/or continue in the loan process to finalize the loan.

There are several other dates and or deadlines that "could" relate to your transaction.

6)  Pre Closing will happen when your broker and you deem appropriate. A good Realtor will review what to expect at closing, what you need to bring and answer any other questions that you may have to make sure you are comfortable and understand the process. Dates and times will also be verified.

7)  CLOSING! This is a very exciting day for you. If your contract allows, you are able to make one more visual inspection of the property and off to the title company you go! After a series of signatures and explanations or answers to any questions that come up, the sale will be closed and you will be issued keys! (That is of course that your contract states possession at time of closing)


This was not meant to be a full "Step By Step" of the home buying process, rather after several requests I decided to briefly outline what a new buyer should do to "get out and buy a home!"

If you have any questions about the buying or selling process, or need a Realtor, please do not hesitate to call or email me!

Don't forget if you are a first time buyer that your may be entitled to up to $8000.00 credited on your taxes! 

Visit us online at http://www.hunterhomescolorado.com

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