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Real Estate 101: Buying a Home

August 23, 2019 By Laura Stewart

You’re thinking about buying a home in Colorado?

Buying a Home in Colorado - find a quality real estate agentAre you wondering how to start the buying process?

It is an exciting and foreign process-here is a simple outline:

1. Interview quality Realtors

a) A qualified agent has years of successful experience
b) Is happy to provide you with testimonials from satisfied customers
c) Has a track record of successful sales & purchases.

Your Ideal Realtor can thoroughly explain the process. Ask them as many questions as needed to understand the journey. A quality Realtor helps walk with you through the opportunities for you to perform due diligence on the new home, the opportunities for negotiations, objections, resolutions or terminations all while protecting your earnest money.

 

2. Interview quality Lender

a) Qualified lenders have years of experience and are happy to provide you with testimonials from satisfied customers as well as a great track record of successful transactions.
b) Complete the loan application.  This helps ensure you are truly fully qualified and ready to submit an offer once you find the “right” home.

NOTE; Remember that these two professionals are the most important members of your home buying team and You are Hiring Them!! The caliber of your selected professionals will be directly reflected in your real estate experience.

 

3. Enjoy shopping for houses with your Realtor

While working with your Realtor, your home preferences get dialed in as you become familiar with features that you would like in your home. For example: could be as simple as a kitchen island, walk in closets, upgraded appliances or systems or even the direction the home faces-to avoid the icy driveways from the north facing homes.

 

4. Draft a strong offer with the guidance of your Realtor.

The market analysis allows your professional realtor to help you understand the value of the home relevant to the value of other homes in the neighborhood. Professional guidance for drafting a strong offer besides purchase price includes:

  • dates and deadlines of due diligence actions,
  • rent back periods and more
  • to determine where you get the most value.

 

5. Once your offer for the home is accepted, plan to move swiftly:

  • Through the earnest money delivery
  • Inspection process
  • Title &/or HOA document review
  • Home insurance shopping
  • Appraisal and finally the loan objection.

Your Realtor’s negotiation skills and communication will offer you solid guidance through all these important contract deadlines.

 

6. Prior to closing provide your lender with the most recent pay stubs and statements.

The lender will review your credit and account information close to closing.

You must not make any large purchases prior to closing!

This can cause you to loose your pre-approval status if your debt ratio increases drastically.

 

7. Preparation for closing should include:

  • Arrange utility services
  • Pick up a cashiers check or order a wire for the funds needed for closing
  • Schedule the closing day and time and
  • Bring your license to closing and allow at least an hour for the actual closing.

 

NOTE: Typically at closing everyone will be at the closing appointment together; the listing agent, the sellers, the buyers agent, the buyers and the title representative.

 

8. Moving day arrives and now you are ready to settle in and enjoy your new home!

Here’s to a future of stability, predictability and equity gain from home ownership! Time to Celebrate!
If you are interviewing agents I would be happy to connect;
Laura Stewart, HomeSmart Realty Group, 720-937-2846.

Filed Under: Home Buyers Tagged With: buying a home

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Testimonials

Best Realtor in Colorado!

We just bought a town home in the Highlands Ranch area. Laura was an absolute pleasure to work with and very responsive to our questions and concerns. She was the best real estate agent we have ever had; we have bought 7 homes over the years. Laura went above and beyond what a regular agent would do, anticipating and researching issues before they occurred. We would recommend Laura wholeheartedly to anyone buying or selling a property.

Jean & Curt

Highlands Ranch Realtor

My wife and I bought a house in Highlands Ranch about 16 months ago. Laura Stewart was great to work with – very knowledgeable about real estate and housing in general, always a call or email away and more than willing to show us whatever house we wanted to see. Would strongly recommend!

Chelsea & Andy, First Time Home Owners

Real Estate Professional!

Laura has guided me through two home purchases and one successful home sale. She is extremely knowledgeable, customer service oriented, skilled and ethical. I am recommending her to my family members and friends! She has never let me down and goes above and beyond to make your home dreams come true! 

Beth & Warren

Incredible Agent

Laura is absolutely incredible. She is literally the best agent in Colorado. Laura will NEVER steer you in the wrong direction. When looking at houses, she points out stuff that’s bad, give you her open and honest feedback, is ALWAYS willing to meet you to view a property, and NEVER makes you feel pressured when thinking about buying a property. Laura helped me and my girlfriend purchase our first house. We were the first ones to view it (thanks to Laura) and first ones to get the offer in on the house. Laura’s negotiation skills throughout the whole process were phenomenal. She also has a phone book/contact list of individuals who are top notch (from lenders to home inspectors to structural engineers). We literally went with all of her recommendations and couldn’t be happier. Even after we purchased our home Laura continues to help us with advice/service. If you want an incredible agent, look no further!

Paul & Dana, First Time Home Owners

She always made herself available

Laura opened my eyes to what a real estate agent really should be. She always made herself available during our house hunt and provided an abundance of needed information ranging from interior design to construction techniques. Laura is our real estate agent moving forward but we will share her with you.

Stephen

There is not a better realtor out there

We connected with Laura after moving from Arizona as she was highly recommended by family. With Laura’s help, we were able to sell our townhouse for more than asking price and move into our dream home in less than 30 days. I work in the mortgage industry and deal with Realtors on a daily basis. There is not a better realtor out there. I am impressed with Laura’s knowledge of the recent changes in the mortgage industry, and would not want to navigate the current market with anyone else. I am confident in sending friends and family to Laura as I know they’re in good hands.

Ben Harris

We love Laura and would not even consider using someone else

Laura helped us purchase our last home and we are currently working with her to sell it and purchase our next home. There is a reason why Laura is a top realtor in the area. She is incredibly knowledgeable with the Denver market. She is always prepared when we meet. She has great knowledge of what to look for and in helping us narrow down houses that won’t work. She seems to be available 24-7 (not sure how she does that?) We love Laura and would not even consider using someone else.

Sam and Lanier

She will work tirelessly

In my years of working with Laura on multiple transactions, I have admired her integrity, ability to accomplish and exceed her client’s needs and wants.

Additionally her knowledge of the market and her negotiating skills are top notch. She will work tirelessly to make things happen. She is truly a pleasure to work with.

Christine



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Recent Posts

  • Real Estate 101: Buying a Home
  • Colorado Real Estate Values Shifting
  • Buying a House is Cheaper than Renting in Denver!
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