Home Buying Process
1. Establish a plan
- Initial meeting with client
- Determine Buyer’s desires (needs/wants in a new home)
- Review duties/responsibilities of a Buyer's Agent in Colorado
- Ensure Buyer is pre-approved with a known lender
2. Property Search
- Set Buyer up on a listing alert service
- Preview properties on behalf of Buyer
- Show properties to Buyer
- Help Buyer select ideal property
3. The Offer
- Validate what is included in sale via MLS details
- Contact Listing Agent to validate property is still available; confirm any special terms for offer
- Prepare a Market Analysis in the area to determine offer price
- Obtain and review available disclosures with Buyer
- Prepare Purchase Contract on behalf of Buyer
4. Negotiation
- Present Buyer offer to Listing Agent
- Ensure Buyer's Lender available by phone in case of finance questions asked by Listing Agent
- Respond/negotiate counter-offers and contract addendums
- Acknowledge ratified contract on behalf of Buyer
5. Under Contract
- Send copy of ratified Purchase Agreement and Property Profile to Buyer’s Lender to start lender underwriting
- Open Escrow with local Title Company if not done by Listing Agent
- Send copy of ratified Purchase Agreement to Escrow Officer for closing instructions
- Order any inspections requested by Buyer
- Review new disclosures and inspections with Buyer
- Negotiate contract adjustments and credits if new defects are found as part of property inspections
- Assure loan underwriting moves forward on schedule
6. Closing
- Manage the timely release of contingencies on behalf of Buyer
- Ensure has Certified Funds for amount due at closing
- Ensure Lender funds are received by Title in time for closing
- Arrange and attend Buyer final walk-through prior to close of escrow
- Review Settlement Sheet for accurary
- Provide a list of potential vendors (e.g. snow removal, rental management, handymen etc) if these services are required
- Monitor closing for transfer of property occurs as planned
- Once property recording is complete, arrange for keys to be delivered to new Home Owner
