I will discuss your wants and needs for your ideal home. I will research all available homes which match your requirements and will continue to update you of any new properties that become available through our multi-list system, new home areas or homes that are for sale by owner. If you see a sign, read an ad, surf the web or hear about a property for sale, let me know and I’ll do the research for you. If you’d like, I will preview homes of interest prior to your visit to make sure the selected homes meet your criteria.

If you like, I will help you select a lender to determine your financial qualifications for purchasing a home. Financially qualified buyers are received more favorably by Sellers, so I recommend you to immediately start the loan process with a lender by filling out a loan application to begin the qualifying process. Then, after finding the right home, your lender will appraise the property, and closing and possession of your new home can take place sooner.

Allow plenty of time to inspect each home. Anyone directly involved in the purchase decision should be present. While visiting each home, share your comments (good or bad) with me. Your feedback will provide the necessary clues to finding just the right home. A return visit to the most desirable two or three properties is extremely beneficial for a more thorough inspection of each one. When you have logically narrowed the search, relax and let your emotions make the choice for you.

After finding the right home, I will write a purchase agreement on your behalf. This agreement outlines the price, details of financing, inspections, closing and possession dates, and other conditions of the sale. An earnest money deposit will be required with the purchase agreement and represents your intent to purchase the property. When the purchase agreement is accepted by the Seller, the earnest money deposit will be held in escrow until closing. If your offer is not accepted, the earnest money will be returned to you. Depending on the price of the property, you should anticipate a minimum of 2-3% of the purchase price for the earnest money deposit. I will give you a “Under Contract” booklet to help you with the necessary action items as well as a chronological list of contract dates to follow.

Once the contract is signed, formal loan application must be made (if not already done). Detailed information about your income, employment and credit history will be required and an application fee will be collected. Your lender will then begin the process of verifying your employment and income status, checking your credit history, etc. Your lender will also order an appraisal of the home’s value and a survey of the property. Your lender may require that you provide copies of well and water test results and septic inspections (if applicable). Once all the information is gathered by your lender, this “loan package” will be sent to the lender’s underwriters for review and, ultimately, loan approval. This entire process takes approximately 3-4 weeks for a conventional loan, longer for government loans. I will be in contact with your lender throughout the entire process.

If you are purchasing a resale home, you may want to have various inspections done. Inspections include, but are not limited to: general home inspections, radon gas inspection, well production and water potability and septic inspection. Home warranty plans are available that protect against repairs or replacement of certain appliances, heating, plumbing or electrical items. I will help you contact inspectors and will provide any required copies of inspections to your lender.

When property is being sold, the lender and the buyer require a preliminary title commitment that indicates exactly what recorded liens and encumbrances and recorded easements are currently in effect on the property. The title commitment will also indicate any restrictions on the use of the property. Title insurance is required on all property in Colorado and is a seller’s cost. However, the buyer is required also to furnish the lender with a lender’s title insurance policy showing the lender as lien holder on that property. When the sale is final, the title company records the necessary documents and issues a title insurance policy to the new buyer and the lender showing clear title on the property. As with other aspects of the transaction, I will help you with this phase of the process.

When all conditions of the contract have been met, i.e., final loan approval, inspections, title commitment review, etc., the closing or signing of documents can take place. This is to be done by the title company with all parties present. Prior to the closing, your lender will provide the title company with all the necessary documents for your new loan. Then the title company will prepare the final settlement sheet with all the closing figures and costs. At closing, the documents are signed, moneys exchanged and the sale is complete! Possession of your new home will take place after the closing on the date agreed in the contract with 3-5 days after closing being a customary time.