Buying Salida CO Real Estate: Making the Offer
First: Questions for the Seller
Although it may not be possible to get answers, questions for the sellers can provide telling information about why they are selling. Is it the area? The house -- is something wrong with it? The neighbors, dogs, terrain, proximity to their mother in law (kidding)..... etc.
What does the seller like most and least about the property?
By finding out what the seller likes most and least about the property, you might get some interesting information he MLS won't show.
Any problems in the past?
You are covered in Colorado. You may ask for the Seller's Disclosures where this must be disclosed, to the best of their knowledge. Be sure to have this before your home inspection and show your inspector.
Nuisances or problem neighbors?
This may be tough to find out but a neighbor may help. Have you ever tried the approach... "Hi, how do you like me so far? "? Most neighbors are happy to help, unless they are the problem neighbors, of course.
The Actual Offer
Include Your Proof of Funds
The seller will be more inclined to work with you if you come with a letter or pre-approval or a letter validating proof of funds. This will put your offer ahead of others who may be making an offer on the same place because it shows the seller you can buy the home.
Look at Comparable Property Values
Don't get caught up in bidding wars that can drive the house up way past what it is worth. The value will eventually catch up but if you are not sure how long you will stay, bidding wars are risky financially. Know when to stop by looking objectively at other properties.
Buying Salida CO Real Estate has changed dramatically over the past several years. In Salida proper, homes are selling at about 97% of list price. Not much negotiating. In our surrounding towns and communities, there is a bit more negotiating but ask your Realtor® so that you won't have a seller who rejects you outright.
Bring your Checkbook
You will be needing earnest money... a monetary commitment that you are serious. It will go towards your down payment. If the transaction falls apart for reasons such as financing, inspections, etc, you will get that money back. If you find somewhere else to buy and walk, the money will go to the seller more often than not.
Keep Copies of all Paperwork
Keep copies of the contract, either electronically or paper to review what you decided upon and where you are in the process. Most agents will be sending them to you electronically but don't be shy about asking for paper if you prefer.
Once the Offer is accepted....
You will be very busy for the first 10 days and then busy waiting for the rest of the time. It can get bumpy but your agent will be on it. Expect a bit of the Buyer Blues ... it is a big chunk of change and it will take getting used to. You are on the road to one of the strongest investments you can make.... real estate. Congratulations!