Getting Started

Deciding that now is the time to purchase your new home can often feel a bit overwhelming.  Getting started in a logical was reduces that feeling!  I suggest my clients look at the entire real estate transaction as a series of steps.  Taking each step one at a time, I believe you will find the process much easier and I'll be ready to help you every step of the way.

On these pages we will help you find quick links to current information explaining each step, you'll find useful tips on what to expect during each step, and you will learn what information you would like explained for you in more detail by me.  Below is a quick overview of each step of the process. 

Step 1: Figure out how much you can afford

What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. Online alculators can help, but it is best to visit a lender to find out for sure.

  How much home can you afford?
  Buying vs. Renting

Step 2: Know your rights - I review these with every client

  Fair Housing: Equal Opportunity for All - brochure
  Real Estate Settlement Procedures Act (RESPA)
  Borrower's rights
  Predatory lending

Step 3: Shop for a loan - Mortgage markets are changing daily

Save money by doing your homework. Talk to several lenders, compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approved for a loan.

Looking for the best mortgage: shop, compare, negotiate - brochure 
Let FHA help you

Step 4: Learn about homebuying programs

Learn about homebuying programs in Colorado.  (I'll be happy to review these with you.)
FHA loan programs may offer lower down payments and are a good option for first-time homebuyers.
Do you qualify for one of HUD's special homebuying programs:
         Good Neighbor Next Door Program -
         for police officers, teachers, firefighters and emergency medical technicians
         Homeownership for public housing residents
         Indian Home Loan Guarantee Program (Section 184)  

Step 5: Shop for a home

  Choose a licensed real estate agent
  Create A Wish list - what features do you want?
  Home-shopping checklist – take this list with you when comparing homes
  Check out the different types of Homes for sale:
       Single Family Homes
       Short Sale or Foreclosure Sales
      "Fixer-uppers" - home purchase and repair programs 
       Manufactured (mobile or stationary) homes
       Build a home

If you choose a home in a neighborhood with a Home Owners Association (HOA), be sure to request a copy of the HOA packet, so you can review before closing.

Step 6: Make an offer

Discuss the process with your real estate agent.  A truly professional Realtor® will guide you through the offering and countering process, as well as, the entire negotiation process until both buyer and seller agree to the terms of the sale.

Step 7: Get a home inspection

Make your offer contingent upon a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs.

What Is A Home Inspection? 
10 Questions to ask a home inspector 

Step 8: Shop for homeowners insurance

Lenders require that you have homeowners insurance. Be sure to shop around.

Homeowners insurance checklist
12 ways to lower your homeowners insurance costs

Step 9: Sign papers

You're finally ready to go to "settlement" or "closing." Be sure to read everything before you sign!

What Are Settlement Costs and other Helpful Information