The “Home” Team Buyer’s Guide
Whether you’re a first time home buyer or a real estate veteran, purchasing a new home is a big financial decision. There are many important things to consider as you start your Colorado home search. From finding accurate information about homes for sale to connecting with an experienced REALTOR®, we will advise you on the right steps to take to simplify the home buying process. That’s why each of our buyer clients get a copy of The “Home” Team Buyer’s Guide, a 244 page manual that explains the entire buying process piece by piece.
We have designed The Home Buyer’s Guide to assist you with the purchase of your new home. We understand the many questions and concerns of home buyers and we hope you find this information to be helpful throughout our transaction. We assure you that it is our goal to provide you with the most professional and informative service available within our industry. Here are some of the areas covered within the package:
Agency/ Selecting a Realtor
Mortgage Choices/ Loan Application
Good Faith Estimate/ Purchaser’s Expenses
Contract/ Earnest Money
Structural Inspections/ Warranty Service
What to Look for When Buying a Home
Tax Impact of Home Ownership
Glossary of Terms
Additional Buyer Considerations
Location, Location, Location
Locations above or below average should be compensated by price. Use sold data to determine if an appropriate price adjustment was made when the property was listed.
Same as location. Sellers will often make obvious repairs if asked for within the offer to buy or condition can be sited as reason for lower price offer. The inspection provision will protect you from latent defects. Consult your Realtor to strategize the purchase offer relative to concerns about the property’s condition.
Different styles command different prices per square foot. Some have greater overall demand than others or appeal to different types of buyers. Some styles are more expensive to build than others or require larger land resources thereby discouraging developers. These supply and demand factors have significant impact on prices.
Beware of Functional Obsolescence. A home which lacks in characteristics which are basic or widely expected, i.e. a 4 bedroom home with only 1 bath, should be priced lower by at least the cost of adding (a bathroom) without diminishing the utility of the rest of the living space. Other such elements are garages, basements, dining rooms, yards, etc.. These factors are much more significant in the mid-to-upper price range homes.
After your initial interview, we will have a fairly complete idea of your wants, needs, price range and location and will enter your requirements in the Multiple Listing (MLS) computer. From the thousands of listings in it’s inventory the computer will print a complete list of homes tailored just for you.
We will make arrangements to show you those that seem the most suitable (i.e., condition, terms, etc.). As you approach these homes notice the condition of the roof, foundation, paint and landscaping. Observe the neighborhood – the condition of the other homes.
Is the home on a busy street? Is there suitable parking? Are the schools close by? As you walk through the homes, feel free to open cabinets and closets if you wish. Most often the Seller(s) will be absent, but should they be present, they will understand your need to examine the home carefully.
If the home appeals to you, make notes. It is easy to forget details. Often there will be a brochure available for you to take along to help you recall the home as you review your tour. A list of MLS abbreviations, explaining the inclusions can be found in this package. If the appliances are to be included, check their condition.
Don’t be surprised if the first home you see is the perfect one for you, and don’t be discouraged if none of those you visit the first day are what you want. We are committed to finding the one that you will want to call “Home”, and we will work diligently until you find it!