20 Feb All About Home Buying Process
Deborah, an established Realtor in Colorado Springs discussed all the important steps of home buying process.
- Asking your friends, who had good experience and if they can recommend a Realtor, or you can check Realtor.com, the website for looking for homes as well as realtors.
- Make sure, that they are realtor and not just the real estate agent, as the Realtor belongs national association of realtor and it’s very important that they are full time and licenced realtor. You can go to dora.state.co.us to find that they have the licence.
- Find their experience and if they are not experienced they must be mentored by someone. Make sure that they have backup and whether they do for residential or commercial.
- Find Designation (which is the level of education in the specialised area.).
- Find the feedbacks of the realtors on Trulia, Zillow and Realtor.com or you must google the name of the realtor you got reference of.
- They must have a system which can automatically generate an email once a home fits the criteria you want (Price, Area, Number of bedrooms etc.). The email will be having pictures and by chance picture is not their then ask for it. Off course, the picture could be much spacious and better than what you see on MLS (Multiple listing service.), but at least you get some idea about, how the house look.
- If the house is not occupied, it’s always available to view but if its occupied then there are few common constraints.
- Once you get your dream home and you decide to buy, Realtor will make a contract for you and you must understand every detail on the contract.
- There are several deadlines and the first is Earnest Money Deadline, you have to pay earnest money to confirm the contract which is usually its 1% of the total money.
- Second is Inspection Objection Deadline which has to be done through an educated inspector (NAHI or ASHI certified). Inspection can tell you about the really bad roof to bad foundation which is very important for you to know.
- Third is Property Insurance Objection Deadline, for the home insurance.
- Loan Objection Deadline by which all the finance is approved after all the documents are approved.
- Closing Deadline, this is the date when you are closing the deal and make sure your lender is with you so that there is no problem with the funds, because if the funds are not released, the contract can be cancelled.
For more details, call Deborah on 719-641-1357.