Buying in Colorado & Wyoming
STEPS TO BUYING

STEP 1:  FIND A REALTOR
That's me! The terms Agent, Broker and Realtor are often used interchangeably – but most people don't know that they 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, some agents join their local and national “Association of Realtors”, the world’s largest professional trade association. The Real Estate agent can only 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 homes for sale in your market. This is done through the MLS or Multiple Listing Service.
STEP 2:  GET PRE-APPROVED FOR A LOAN
The process of buying a home starts with determining your buying power. This is your cash available plus your borrowing capacity. This is a vital step in the buying process because this tells us how much house your can afford and which homes we should realistically be looking for. I make it my policy for each buyer to obtain a “Pre-Approval” letter from a reputable Mortgage Lender, which, we will include with any purchase offer you wish to submit on a home.  Click on my "Resources" page to find any of my recommended Mortgage Lenders for either home or land.
STEP 3:  PREPARE YOUR WISH LISTS
The one common starting point I have for working with all buyers is to receive from you a description of the home you would most like to live in (with the pre-approval numbers that tell us what you can afford). I would ask that you write down and send over what would make the perfect home for you. I want you to tell me what you consider important! Think about things like the price of home, the size of home, the number of bedrooms and bathrooms, garage size, lot size, commuting time to work place, access to recreational activities, age of home, neighborhood conditions, style of home (contemporary, traditional, ranch, 2-story), length of time you expect to live in your new home, etc.

​This is an excellent opportunity to get input from your family. I will use this as a starting point to help you locate the house which most closely meets your requirements. I will also probably use this as a basis to make you aware of some features may not have thought of yet! With all the homes for sale on the market, it’s important for us to know what you’re looking for.
STEP 4:  VISIT PROPERTIES
Within a few hours after receiving your wish list, I will start sending you emails of homes for sale that most closely match your desired qualities. If these homes appeal to you, we will schedule showings for us to go see them . Please keep in mind that in today’s market, good homes that are well priced & in a good location, seldom last more than 2-3 weeks on the market. We will both get instant alerts on homes matching your criteria come on the market. If you like it, let me know and we'll go see it. If it's not for you, delete it and we'll move on.
STEP 5:  MAKE AN OFFER
In Colorado, licensed Real Estate agents are authorized by the Colorado Real Estate Commission to prepare contracts to purchase real estate if the forms used are approved by the Real Estate Commission. Once we've found "the one" and you decide it's time for us to write up an offer, we will have many decisions to make including: purchase price you wish to offer, financing terms including cash down payment, earnest money deposit, type of loan, interest rate and pre-approval letter, time period for inspection of property, contingencies you wish to include, time period for loan approval, setting the date and time of closing, presenting the offer to sellers and negotiating and finalizing any terms and conditions which the sellers may wish to modify from the original offer presented to them through a counter-offer. You know, all of the fun stuff! Through this entire process, offering and negotiating the purchase offer, I will work closely with you to maintain timely responses and provide market savvy answers to questions as they come up.
STEP 6:  DUE DILIGENCE
Now that we have a negotiated agreement, the clock starts running on our dates and deadlines. I will assist you finding qualified, responsible professionals to do most of these investigations and provide you with written reports. Specifically, you will want to have an inspection of the property for such things as: the mechanical, plumbing and electrical systems, the foundation, walls, flooring and windows. You'll want to see a preliminary report of title on the property to determine any easements or issues of title. Your mortgage lender will require an independent appraisal of the property. Any issues noted during the inspection may come up as additional negotiations between you and the sellers. I will help facilitate this process. If you are not comfortable with the inspection resolution with the seller, you will have the right to terminate the contract, provided we do this before the agreed upon deadline.
STEP 7:  CLOSING AND POSSESSION
Closing on the property is usually handled by the title company which issued the title commitment. I will be with you at the closing table to provide answers and assistance during this process. It usually takes between 30-90 minutes. I will be sure to review all settlement statements for you, as the Buyer, for accuracy and reasonableness. In fact, you and I will have gone over this before we even get there for you to sign. Time of possession is established at the time of negotiating the original offer. In Colorado, it is customary for the buyer to take possession at Closing or up to two days after Closing.