Do You Want to Buy a Property in Colorado Springs? Our Buyer Process
At The Karsten Team, we are experts at representing our clients throughout the home-buying process. We act as trusted fiduciaries and operate on principles of trust, knowledge and exceptional service. Going the extra mile, maintaining clear communication and remaining accessible to our clients is how we operate. In the event of multiple offers, we work to keep you in first place with expert negotiation skills and systems we have developed to make sure your offer is accepted.
What can you expect throughout the process when searching for your Colorado Springs home?
STEP 1: THE BUYER CONSULTATION
The first step is sitting down together so we can get to know you and create a plan to make sure your home-buying process goes smoothly. We will discuss your real estate needs, getting you pre-approved, searching for homes, the offer and negotiation process, the benefits of using an agent and the state of the housing market.
▸ We work with you to determine what you want in a home and what is important to you including location, size, style, condition, moving timeline, etc.
STEP 2: PRE-APPROVAL
Arguably the most important step is determining your price range and affordability before searching for homes. By obtaining a pre-approval letter, sellers will have confidence in knowing what you can afford when submitting an offer. You are more likely to have your offer accepted than someone who is not already pre-approved.
▸ We aid you in this by helping you choose a mortgage lender and obtaining financing.
STEP 3: NARROWING THE SEARCH
Technology has simplified your home search. We can alert you of new properties as soon as they hit the MLS (Multiple Listing Service) and before they go active on many of the consumer websites you may typically think of when searching for homes.
▸ By setting you up with an automated home search, you will be notified of homes fitting your criteria as soon as they hit the market.
▸ We routinely search for off-market properties that are hard to find but may meet your needs.
STEP 4: SHOPPING FOR HOMES
Your dedicated buyer specialist will suggest homes that fit your needs, schedule property showings and meet with you to tour homes in person. If you received an alert or found a home you want to tour, simply reach out to us and we will schedule a tour as soon as possible.
We will research recently sold homes and those currently on the market to determine the following:
▸ How much are comparable homes selling for?
▸ Have there been price reductions?
▸ How long are homes staying on the market?
▸ Does the home have resale value?
STEP 5: SUBMITTING AN OFFER
Once you find the home for you, we will guide you through the process of making the right offer. Along with your offer, sellers will typically require you to provide an Earnest Money Check. This is usually around 1% of the price and will be deposited once your offer has been accepted. We will assist you with the following:
▸ Determining what price you would like to offer for the property.
▸ Drafting and submitting a strong offer/contract and negotiating any counter offers.
STEP 6: YOUR OFFER WAS ACCEPTED! NOW WHAT?
Congratulations! Your offer has been accepted. We will continue to guide you through each step until you ultimately close and take possession of your new home! The following is a bit of what to expect at this point in the process.
▸ Depositing your earnest money in a timely manner once your offer is accepted.
▸ We will request and obtain any property disclosure information.
▸ Assist with inspections and requesting any repairs from the seller if desired. Home inspection costs can vary depending upon what services are ordered and will need to be paid at the time of inspection. Typical cost can range from $400-$800.
▸ Order a title search and request all covenant information and documents.
▸ Appraisal will be ordered by your lender with the goal of justifying the price of the home and to protect you from overpaying.
▸ Conduct a final walk-through of the home prior to closing to make sure all contract items and requirements have been met.
▸ Closing & taking possession of your new home upon a satisfactory walk-through! Don’t forget to bring your driver’s license or official photo ID as well as wiring the required funds in advance of closing or having a cashier’s check made payable to the title company for your down payment and closing costs. Congratulations on your home purchase!