Once we find a house and get it under contract, closing takes 4-6 weeks normally with a mortgage loan. Cash transactions can close very quickly, even in a few days, if needed.

How many properties does the typical buyer look at?

On average, 8 homes.

When should I make an offer?

When you find a home you like that satisfies at least 80% of what you are looking for. "Thinking about overnight may allow another buyer to beat you to it.

How much should I offer?

Every situation is different. I will do a Comparative Market Analysis to determine market value, and try to find out if there are any other interested buyers, and what the seller's motivation may be. Are they anxious to sell, do they need a quick closing, etc? I will give you all the information, and then you will make an informed decision on what to offer.

What protections do you put in the contract for me?

We use the Colorado Real Estate: Commission Contract, which has many contingencies for the buyer: Inspection, Title, HOA docs, covenants, Due Diligence Documents, Appraisal, Loan contingency, to name some.

Should I lock in my interest rate or should I float?

This is a "loan officer" question. They watch the rates and will give you their opinion on which direction rates are headed. Locking for a long term can be expensive.

Upon the finalization of the closing unless otherwise agreed.

What happens at closing?

The Buyers and the Sellers are presented with the closing documents that transfer the Deed to the Buyer, and the Buyer signs all the loan documents, gives the final amount due at closing via a certified check or wire transfer. A wire transfer is required for amounts $100,000 and over.

How much earnest money should I put down?

The amount required by the seller is disclosed in our agents' Multiple Listing of the property. It is usually about 1% of the purchase price. If we are in competitive multiple offer situation, you might want to offer more.

When do I pay the earnest money?

After your offer is accepted, you submit it to the designated Title Company to hold on your behalf. Normally I make it due 2-3 business days after the seller signs. It is immediately deposited. When you close, this amount is credited against your down payment and/or closing costs. If you terminate, you get it back. If you break or default on the contract, your earnest money would be forfeited.

Will I get my earnest money back if the offer is not accepted?

I usually make it payable only AFTER the offer is accepted.

What if there is a deal-killer during the Inspection period?

We would terminate the contract and submit an Earnest Money Release form. The title company would then refund your earnest money, but first has to verify that the check or wire went through. It could take a few days, or up to two weeks.

How often do you find the perfect property on the first day?

It is very rare to find a "perfect" match for a buyer, but if you use the "80-1-10 rule", 80% of what you want, 10% that you can change and only 10% that isn't what you want that you can't change, it happens every now and then. Sometimes we hit a home run on the very first house-don't think that it can't happen, because I will listen very carefully to what you want, and then scour the market for a house that fits your de ion!

Is there anything I should NOT do during the house hunting process?

Many! Please see my list "Things That You Absolutely Must Not Do".

What is the likelihood of a multiple offer situation?

Not so much at this time, but if the house is gorgeous and underpriced, other buyers and agents will definitely want to compete for it.

What monies will I need to come in with?

Down payment (varies), mortgage loan costs (can be 2% of the loan amount), inspection money (4400-$1000), earnest money (1%, applied towards closing costs/down payment, appraisal money $600-$800. First-time homebuyer programs may assist with down payment, but you will still have the other expenses.

How long does the home inspection take?

It depends on what inspections are done, and the inspector. It can vary from 1.5 hours for a small home, or with an inspection team, to 3 hours or more.

Can you recommend a home inspector and lender?

Yes, of course! I am happy recommend those who have helped my clients successfully and competently in the past, because I love to see my clients in good hands with reputable companies. I do not get any "kick-backs" from whomever I recommend. They love getting referrals from me, and so will do their best to continue earning my clients' business.