Selecting a Realtor
The terms Agent, Broker and Realtor® are often used interchangeably – BUT have very different meanings. In Colorado a person must be licensed in order to sell real estate. Standards set by the state cover the minimal education, examinations and experience needed to become licensed. After receiving a real estate license, the better agents join their local and national “Association of Realtors,” the world’s largest professional trade association.
The real estate agent be called a Realtor® only after joining the association and subscribing to a strict “Code of Ethics” (which goes well beyond state law). It is through the realtor association that the agent agrees to collectively share the information on all houses listed for sale. This is done through the MLS or Multiple Listing Service.
Getting a Loan
The process of buying a home starts with determining your buying power: that is, your cash available plus your borrowing capacity.
This is a vital step in the buying process – often, the difference between having your offer accepted or rejected. It is our policy for each Buyer to obtain a “Pre-Approval” letter from a reputable Mortgage Lender which will be included with any purchase offer you wish to submit on a home. We will assist you in this process.
As a first step, we will ask you a series of questions such as: your available cash reserves, income, current debt, cash to be freed up on the sale of your existing home, employer provided allowances for moving costs, and so on.
In this way, we can provide you with a good estimate of your purchasing power and recommend you to a mortgage lender most suited to help you whether you require: FHA, VA, Jumbo, Conventional, or a first time home buyer program. We will do this for you whether you are credit perfect or credit challenged!
Preparing a Wishlist & Deal Breakers
The one common starting point we have for working with all buyers is to receive from you a description of the home you would most like to have (within the constraints of your financial capability).
We ask that you prepare and send us your desires for the home which ideally you would like to find.
We want you to tell us what you consider important!
Consider many factors including:
- price of home
- size of home
- number of bedrooms and bathrooms
- garage size
- lot size
- commuting time to work place
- access to recreational activities
- age of home
- time until you plan to move in
- neighborhood conditions
- style of home: contemporary, traditional, ranch, 2-story
- length of time you expect to live in this new home
- new home versus previously owned home, etc.
This is an excellent opportunity to get input from all your family.
We will use this as my starting point to help you locate the house which most closely meets your requirements. We will also use this as a basis to make you aware of some features, which may be unique to the area’s homes and neighborhoods, which you may find desirable.
Learning About the Neighborhood Before you Start Looking
Once you have visited a variety of properties and decided which properties you feel you would like to make an offer on, I will prepare a detailed report for you on the neighborhood for that home – just to make sure you are knowledgeable on ALL aspects of the home (and neighborhood) you wish to buy.
The report, at a minimum – data permitting, will include the following up-to-date information:
- Neighborhood demographics
- Public and private schools
- Climate reports
- Houses of worship, by denomination, (if requested)
- Proximity Maps to Shopping centers, country clubs, museums, airports, schools, etc.
- Comparisons with other neighborhoods you choose to look at (locally or nationally)