First Time Home Buyers in Salida CO or nearby
Your First Home
Are you a Salida CO First Time Home buyer? Or, considering buying in one of our other Valley Towns? Do you want to buy property in or near Salida and have never bought before or bought so long ago that you feel like a first timer?
Buying your first home or land can be exciting, confusing, and terrifying at the same time. Your credit is good, you have saved money for a down payment and have decided that now is the time. What next? Buying a place is not just one decision but a series of decisions. We will address each one below.
Connect with a Realtor®
The first thing a First Time Home buyer needs to do is find someone to trust. There are so many areas around us and they are all different. We have in-house use only wells, outdoor use wells, septic systems, grazing leases, water rights and ..... lots more.
When looking for a Realtor®, make sure you get a buyer's agent. S/he will advocate for YOU where agents who also work with sellers may have conflicting interests... similar to a divorce attorney representing both parties.
Be sure to ask your agent about lenders. This is a tricky area for big banks to lend in. You want someone who has a track record in the area. Your agent will give you 2-3 very good lenders who know how are area works. Once you get that magic piece of paper called a letter of pre-approval, you are like a cash buyer. You can begin viewing houses with the confidence that you can put an offer on it any time.
As a first time home buyer, showings can be overwhelming. With a good agent, you should have to see no more than 5 properties before you are ready to make an offer. S/he will have drilled down so deep and search the market so thoroughly for you that you won't waste your time with any that are not on the "short" list.
Making an Offer.
Making an offer can be a bit stressful. If you go into it with a win win attitude, it helps. Both buyer and seller can win and that actually serves you in the long run. Your agent, because s/he is your buyers agent, will be negotiating the best price and terms for you. There may be several counters back and forth. We recommend that you keep looking during this phase at your next in line home in case there are multiple offers or something else occurs that prevents you from going under contract.
Contract to Close
Especially if you are a first time home buyer, consider a team. A team offers your buyer's agent full support during the under contract process ... a group of specialists that close hundreds of properties a year and do nothing else.
This journey starts out fast and furious and ends up slow and steady. In the first week you will be managing loan applications and inspections. Your agent will be there to help. And, s/he will enlist the help of our transaction team... specialists in getting homes to the closing table.