 Here are some tips for Buyers!
- Start by prequalifying with a lender ... this only takes about 20 minutes over the phone - only look for properties you can afford to buy
- Work with a reputable lender ... not all loan originators are created equal! As you shop lenders, find one who is established, has a good track record, and one who is familiar with Colorado real estate transactions. Some out of state lenders are not familiar with Colorado transactions.
- Find the right loan product ... there are many different types of loans out there, and the types available and interest rates change frequently. As you talk about different loan products ask: what will it cost me up front?; what will it cost me over the life of the loan?; and what will it cost me during the time that I intend to own the property?
- Determine what your requirements are ... how many bedrooms, baths, garage size, lot size, style of home and locations that are acceptable to you, how quickly you want to move in ... the more you can tell your Realtor, the faster you will find the right property
- Your best source of properties is the MLS ... our Pikes Peak Multiple Listing Service requires Realtors to post properties under contract, pending and sold. If you get your properties from this source, almost all of them will still be available for sale.
- Give your Realtor a bit of notice ... it takes a little time to research the homes you want to see and to set showings
- Get a baby sitter ... you can move faster and see more homes without the kids; you can always bring them back when you find the 2 or 3 homes that pop to the top of the list
- Hire a professional home inspector ... a good inspector is a teacher - you will learn much about care and maintenance of your new home. If the inspector finds something that causes you not to buy the home, it will probably be the best money you ever spend.
- Don't make any major purchases ... if you do that while you're searching for and buying a home, it can change your credit scores and you just might not get the loan!
- The best tip we can give you is to have you contact Marsha & Ron to help you with this confusing process! Send them a note.
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