Whether you are a first-time homebuyer, or looking to find your "forever home," our local expertise can help you find the perfect fit. We listen to your needs, streamline your buying or selling process, and help you negotiate a winning deal. Click below to learn more about the communities we serve.
Don't see what you are looking for here?
Call or email us at 303-589-8418, email@example.com to start finding your next home.
Where Are the Best Schools?
Not all schools are created equal. View parent ratings, reviews and test scores and choose the right preschool, elementary, middle or high school. Click here for more information. Data provided by GreatSchools. org.
First-Time Homebuyers Checklist
1. Figure out how much you can afford
Ask a Realtor, friend, or family member for a referral to a possible Lender. Get your paperwork in order. Interview several Lenders to evaluate how much home you can afford and your financing options: first-time homebuyer loan packages (FHA, USDA etc), lender fees, interest rates and terms of a loan. Get a Pre-Approval Letter so you are ready to submit an offer when the right home comes along.
2. Select a Buyers Agent
There are multiple ways to engage a Realtor (see here). Having an Exclusive Buyer Agency agreement means the agent will be your sole representative in identifying and purchasing a property – at no cost to you, the Buyer. This type of agreement requires signing a contract with a Realtor for a negotiated period of time. In this scenario, the agent is more likely to really work for you, search the market, do the legwork and generally go the extra mile. Your Buyers Agent will:
3. Be realistic and clear about what you need and where you want to live.
The perfect property may not exist. Have your Realtor set up an automated internet search with broad but realistic criteria. Narrow the possibilities down to a few, then make a rationalized choice. Try not to be caught wondering what else you may have missed.
4. The Offer
Your agent will help you establish the estimated value of the property by drawing up a Comparative Market Analysis (CMA). She will then help you craft the terms, price and details of your offer. With the offer, a sum of money will be deposited in trust as "Earnest Money" to show good faith. These funds will be applied to the purchase or refunded to the Buyer in the event of a failed contract.
5. Contract to Purchase
Once both parties agree on the terms, copies of the signed contract will be sent to the Title Company and the Lender in preparation for the loan and transfer of title. Your Agent will steer you through all the steps in the process leading to closing, the main ones of which are listed below.
An inspection is the Buyer’s prerogative and is an important part of the buying process. The purpose of the inspection is to establish that you are not buying a property with hidden defects that may cost thousands down the road.
8. Mortgage Application
Your contract will specify a deadline by which time the Lender must furnish the Buyer with a loan commitment or declination. Without attention given to this date, your Earnest Money is at risk if the contract falls through. Your chosen Lender should begin processing the loan from the time of receipt of a signed contract.
9. Homeowner's Insurance
Once the loan commitment is secured, then you, the Buyer, you will need to purchase Homeowner’s Insurance before the loan can be finalized.
10. Closing and Title Transfer
A few days before Closing, a Settlement Statement will be made available for review. It lays out all charges, fees and adjustments associated with your purchase, and can be quite a complex document which your Agent can assist in explaining and checking. At the Closing itself a mountain of paperwork needs to be signed. These involve disclosures and transfer documents all required by law, before the keys can be handed over. As a Buyer you will need to bring two forms of identification and a certified or cashier's check for any additional funds, unless a prior wire transfer has been made.