what to expect
Buyers, we're your resource and advocate throughout your entire home purchase - you're never alone! Here's what the process generally looks like.
Loan Application / Preapproval
This allows you to submit an offer as it justifies to sellers that you are able to purchase the property. Sellers may require your pre-approval letter in order for you to see a listing. Please let us know if you need lending resources. We're happy to connect you with experienced local lenders.
Establish Search Parameters
Based on your discussion with your lender, we will identify initial search criteria for your new home and discuss geographic areas that may be a fit for your needs and budget. We will set you up on a real-time MLS search to include coming soon, active, under contract, and just sold properties - the last two as a helpful datapoint for you.
We will carefully review the agency agreement together. This signed document allows us to act as your agent and to counsel you as to benefits and risks of each property. We will also review the Colorado Contract to Buy and Sell (the "offer" document) to ensure that you're comfortable with the general process and each major contingency.
The Fun Stuff: Let's Find You a Home!
Please let us know if you see any homes that look like a potential fit - whether on the MLS search we have set up for you, or elsewhere. We'll start to tour homes and neighborhoods together. Your home is personal, and we're here to be your guide and resource to help you find the best fit!
Agree to Terms / Offer Acceptance
Prior to submitting an offer on your behalf, we'll review the specific terms of your offer and the contract to ensure you understand and agree. Sellers generally respond to offers in 24 - 48 hours. Once you go under contract, we'll guide you through the most immediate obligations, such as depositing earnest money.
The title commitment outlines the title company's conditions for providing title insurance. We'll review the title findings together to confirm that you're comfortable with the information in the report.
Timeline: 5-7 business days after going under contract.
We will assist you with referrals for inspectors and review their findings with you. This may include general inspection, well test, sewer scope, and radon test.
Timeline: 7-10 business days after going under contract. Estimated Cost: $500-1000
Appraisal and Clear to Close
The appraisal is ordered by your lender to substantiate the value. We'll talk through any discrepancies between the appraisal and the contract price. Then you're on to final underwriting!
Timeline: 2-3 weeks after going under contract. Estimated Cost: $750-1500 for the appraisal
You can generally expect to close within 30-45 days, but your specific closing date is specified in your contract. Welcome home! We're always here if you need resources for home repairs / maintenance, or if you have questions. Please don't hesitate to reach out to us, whether that's weeks or years after you close!