What You Need To Know
If we represent you as a Buyer's Agent, Who pays the commission fee?
In most cases, in Colorado, the Seller of the property pays the commissions for both the Listing Agent and the Buyer's agent. So, the commission for the Buyer's agent is not a cost to the buyer!
What fees should I expect to pay?
The only "Up Front" fee you will have to pay, in most instances, is the earnest money on the property you're purchasing. This is usally in the form of a personal check made out to the Listing company or the Title company that is handling the closing. The check is cashed and deposited in a trust account. At closing, the earnest money is either refunded, or in many cases applied as a credit against the buyer's closing costs. Once you're under contract, you will have to pay for any inspections that you have done to the property. Usually, the other fees you incur are paid at closing. Many times, Buyer's will pay a down payment such as 10 percent of the purchase price and will secure a loan for the remainder. Some specialized loans, such as FHA, allow buyer's to put much less down, such as 3%. There are also other fees charged by your Lender, Appraiser, Title Company and other professional services, as required. These are referred to as "Closing Costs". Your lender should be able to give you a fairly close estimate of what you'll owe at closing. Working with a knowledgeable lender that you trust is crucial to the process.
Getting Pre-approved For Financing
One of the first steps you'll take when buying a home is to get pre-approved for purchase financing. Today, there's an overwhelming number of financing options. If you don't already have an existing relationship with a lender you trust, we can refer a lender that will pre-qualify you with no obligation.
Shopping For Your New Home
When trying to decide what home to buy, it's a good idea to create a list of features you want in your new home. That helps narrow search parameters such as area, numbers of bedrooms and bathrooms, car storage/parking, year of construction, etc. Then, we can help you search for suitable listings and we'll set a time to show you potential prospects in your home search.
Making An Offer
You've found a home! As your Buyer's Agent, we will counsel you on making your best offer, draft the Contract to Buy and Sell, and present it to the Listing Agent on your behalf. The offer will outline all of the details in the proposed transaction: Sales Price, Earnest Money, Inclusions in the Sale, Disclosures, and all of the Dates and Deadlines.
Working Toward A Successful Closing
Congratulations! You're Under Contract! Your offer's been accepted and we'll begin to assist you with the steps to close the transaction. We'll be there to assist you in every step along the way as you review documents, order inspections and fulfill all of your legal obligations to the contract. Once all of the I's have been dotted at closing and your Lender has funded the purchase, You'll get the keys!
After The Closing
Now you can start making your house a home. We have a wealth of information about local amenities and resources. As questions arise, we're available to answer them. We value you as a Client and we want to keep in touch. |
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| Jean and Rick Oliphant |
Telephone
(303) 780-0305 |
Mobile
(303) 399-1762 |
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