6140 Tutt Blvd, Colorado Springs, CO 80923
(719) 259 - 5850

The Complete First Time Home Buyer’s Guide

Considering Buying A Home?

Congratulations- you have taken the first step in the process- learning more about it. The Dream Big Colorado Home Team is thrilled to bring you this First Time Homebuyers Guide. Our goal is to provide you with the resources and information you need to confidently choose the home that is right for you.

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1. Choosing the Right Agent

Choosing the right realtor is an important first step in this process. Many times, they can begin the process with you by pointing you in
the right direction! In choosing an agent, be sure it is someone you feel comfortable with, is knowledgeable, and happy to help. You should never feel like you are bothering your agent and you should always feel that you are their top priority! Client satisfaction is our top priority and we pride ourselves in giving our clients a personalized, smooth experience!

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2. Getting Pre-Qualified for a Mortgage

Before we begin the most fun part of this process (the house hunt), it is important to get pre-qualified for a mortgage. This is an important step because it is important that you are aware of how much house you are able to afford and what payment you are comfortable with. This makes the process go smoothly so when we find your dream home, you can make an offer right away! The lender will also provide you with a pre-qualification letter that we will submit with an offer so the sellers know that we are ready and qualified buyers. Luckily, we work with some terrific lender partners, but you are welcome to work with any lender you choose!

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3. House Hunting!

This is the FUN part! However, before we go out, you will let us know what areas you’re most interested in as well as your budget that you’re comfortable with. Then, we will make a plan to go out and look at the homes that meet your budget and home criteria. When you find the home of your dreams, we will submit
an offer and negotiations begin.

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4. We Submitted an Offer- Now What?

 After the offer is submitted, we wait for their response. If they accept our offer, then yay, we are under contract! They could also submit a counteroffer and in that case, we would review that and determine if it is a good deal for you. If they reject our offer because they accepted a different one, then we simply continue our search.

Questions? Call Us Now – (719) 259-5850

5. Earnest Money

Once we are under contract, it is time to send the Earnest
Money to the seller’s title company. This can be done by wire transfer or a check (depends on the title company). Earnest money can range depending on the price of the home but it’s typically between $1,000 and $5,000. This amount can be negotiated
if need be. The Earnest Money does go towards the price of the home so you can put it towards your loan or you can get it back at closing. Most clients do put it towards their home however. The purpose of this is to ensure the sellers that you are committed to
this purchase and it protects them in case the buyer terminates past a contract deadline. The buyer may also get their money back if the seller terminates for any reason or if the contract is terminated before a specific deadline (more to come on that).

Questions? Call Us Now – (719) 259-5850

6. Inspection 

The next order of business is to choose the right inspector. The
buyer pays for the inspection and it typically costs about $300-$600.They will go into your home and perform a thorough inspection of your home, inside and out. Then they will create a report with recommendations for repair. Following the inspection, we discuss the report and determine what items we would like to ask the sellers to repair. We will then create an inspection objection on your behalf containing the items that we want the seller to address. They will respond with the inspection resolution which will
let us know what they are willing to do and negotiations go from there.

Questions? Call Us Now – (719) 259-5850

7. Getting Ready for Closing!

While we are handling negotiations and contracts and making sure deadlines are met, your only job is to send the lender the required
items they need to process your loan in a timely matter.

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8. Walk Through

Prior to closing (usually within 1 day or the day of closing), we will do the final walk through of the home. The purpose of this is to ensure that the home is in the condition that was laid out in the contract. The seller left the appliances they needed to leave, and left the home in the condition that is acceptable to you.

Questions? Call Us Now – (719) 259-5850

9. It’s Closing Day!

On the day of closing, you will arrive at the title company and present your identification. If you need to bring any money to the closing table, that will be done via certified check made out to the title company. The closing table usually involves both buyers and sellers, but sometimes if they sellers already left the area,
they will do a mail out closing in which they will sign the paperwork in a different location. Either way, you will sign all the documents that the title company presents. It definitely looks like they destroyed a whole forest, but it isn’t too scary, we promise! Just
have your signing hand ready to go. After the docs are signed, you are officially a homeowner!!! You will get the keys to the home and be able to start your journey as homeowners.

Questions? Call Us Now – (719) 259-5850

10. Our Client Appreciation Program 

As a client of the Dream Big Colorado Home Team, you will be entered into our Client Appreciation Program. You will receive all kinds of fun stuff from us all year long! We also offer to throw you an amazing housewarming party. We definitely take our services above and beyond the closing table! Also- always remember- we are never too busy for any of your referrals.

Ready To Be A Client? Call Us Now – (719) 259-5850