1. Initial consultation with your Realtor

2. Learn about the upfront buyer costs

• Earnest Money • Home Inspection ($350 - $650)

• Appraisal ($750) • Insurance (1 years’ worth)

3. Find a mortgage broker and get pre-approved (Our Preferred Lenders:)

• Nathan Einkorn | QuickStart Lending - (720) 980-9988 | Nathan@QSLending.com

• Mike Benton | Benton Capital - (719) 331-5443 | BentonCap.com

• Randi Renkel | Benton Capital - Randi.renkel@bentoncapital.com

4. Get set up on the MLS Portal

5. Look at homes with your Realtor

6. Find the perfect home and write an offer

• Negotiate the offer

• Accepted Purchase Agreement

• Earnest Money is due

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7. Home inspection and appraisal ordered (Our Preferred Inspectors:)

• Certainty Home Inspection Company

  • Andy Brewer - (719) 650-4717 | Andy@CertaintyInspection.com

• Pillar to Post Inspections

  • Casey Mendenhall 719-621-2224 | Casey.mendenhall@pillartopost.com

8. Make sure you have your documents to your lender
(Final underwriting for the loan approved)

9. Final walk-through

10. Closing Day! (bring driver’s license and wire transfer or cashiers check made out to title company)

CAUTION!
Do not open any new lines of credit or make any major purchases once pre-approved. The could affect your ability to obtain financing

buying | price estimate worksheet.

Earnest Money is usually due 3 days after you go under contract. This money goes toward your expenses at closing. It is usually 1% of the purchase price of the home. Example if you are purchasing a $300,000 home then your estimated earnest money would be $3000.

Inspections are estimated to be between $400-$800 on average. The range depends upon the types of inspections that are necessary.

Down Payment is not applicable with all loan types. Discuss with your lender which loan option will be the best fit for you. Some down payments can be as little as 3% down

Closing Costs are expenses associated with your loan as well as prorated expenses like home owners insurance, taxes, and applicable Home Owners Association Fees.. Your earnest money can be used toward these expenses and sometimes these can be negotiated in your agreement with the seller.

Worst case scenario these are expenses you should plan for. The lender can give you an estimate of what your closing costs could be.

buying | what to know.

Property taxes and qualified home interest are deductible on an individual’s federal income tax return in most cases. Many times, a home is the largest asset an individual has and is considered one of the safest investments available.

A homeowner can exclude up to $500,000 of capital gains if married filing jointly or up to $250,000 if single or married filing separately. The home must have been the taxpayer’s principal residence for two of the last five years.

A portion of each amortized mortgage payment goes toward the principal, which is a investment. A home is one of the few investments you can enjoy by living in it!

The majority of the time, a REALTOR® can show you any home, whether it is listed with a company or a builder or is even a For Sale By Owner.

Working with a REALTOR® to purchase a For Sale By Owner property is very advantageous, because someone will be looking out for your best interests.

Getting pre-qualified by a mortgage company will actually approve you for a specific loan amount subject to the property. This will give you confidence and will help when negotiating with the seller.

The right to conduct a property inspection, included in your purchase agreement, gives you the ability to negotiate with the seller once you know all the facts about the property’s condition.

A Home Protection Plan can provide coverage for selected items, such as central heat and interior plumbing, built-in appliances, water heaters, etc. If the seller is not providing this coverage, you can purchase it yourself.

In a “seller’s market,” don’t go looking for a deal. Set your sights on the right house for you, and then let your REALTOR® help you negotiate the best price and terms.

buying | new construction.

The advantages of having us help you purchase a new home are the same as those for purchasing a resale home. We can provide you with valuable insight into the new construction industry, help you find the perfect home or home builder more quickly, negotiate the price and terms based on the quality and amenities of the property.

The builder has a professional real estate representative who watches out for his or her best interests, and you need and deserve the same expert representation watching out for yours.

Buying a new home is a little more difficult and time consuming than buying a resale home. We can guide you through this process.

It is very important that your interests be professionally represented when you are entering into a contract for a semi-custom or a build-to-suit home. These transactions are complex and the contract details must be exactly in order to protect you and to ensure that you get exactly the home you want.

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MAKE SURE THE BUILDER KNOWS
YOU’RE WORKING WITH A REAL ESTATE
PROFESSIONAL

Many builders will require that you give up your right to representation if you visit their model homes without an agent on the first visit. Therefore, please call us if you would like to look at some model homes, so you are given the representation you deserve! The builder will pay the buyer’s agent’s fee just like the seller pays in other real estate transactions.

If you happen to be out driving and see a model home that you want to check out, give them a copy of my business card and fill out their “registration” form with your name and ours. Call us right away and tell me if their homes interest you so we can discuss the benefits of that particular builder and community.