(970) 445-8227

matteilers@aol.com

Pre-Contract Stage

  • Get Pre-Approved for a Loan – If you think you will be buying a condo or a townhome, you will typically have an Association Fee. Make sure you have your mortgage officer ballpark a number as well as put in property taxes to get an accurate amount of how much you can qualify for.
  • Determine your Wants & Needs – Make a list of what is absolutely needed (# of bedrooms, price range, home or condo, location…)
  • Give me a call, Matt Eilers (970) 445-8227 so we can go out and look at what is available on the market.
  • IF buying into an Association, make sure you call the Property Management Company and a Board Member 1st to get a general feel of how well the association is doing financially, their future plans and any current maintenance issues.

Contract Negotiation Stage

  • Make sure I have all contact info. available for you so I can get a hold of you.
  • Be prepared to right an Earnest Money Check to accompany the offer
  • Discuss Major Dates prior to submitting offer: Inspection Objection Deadline, Resolution Deadline, Loan Conditions Deadline, Appraisal Deadline, & Closing Date.
  • Be available and mentally prepared for quick negotiations and counteroffers

Under Contract Stage

  • Make a list of your major contract dates and put it on your fridge
  • Order a Home Inspection ASAP! – Ask the Home Inspector what is and is not covered in his/her exam. You may need a more specialized person if you want a radon test, mold test, water flow and water quality test, soils test, furnace inspection…
  • Give a copy of all contract documents to your mortgage officer
  • Review the title work which you should be sent by the Title Company usually within the 1st week to 10 days.
  • IF buying into a property that has an Association Fee, make sure you let your mortgage officer know this exact number as well as the yearly property taxes. They need these numbers to accurately assess if you can qualify for a loan.
  • Review your loan conditions with your mortgage officer prior to the Loan Conditions Deadline. If there are ANY issues, you must object on or prior to this date.
  • Lock your loan type and rate when you fell comfortable.  Until you lock your rate, the interest rate can fluctuate.
  • IF buying into an Association, read all the CC&R’s and Bylaws to make sure you are comfortable with them as these will be your governing documents for your property. These docs will basically explain what is and is not allowed and generally how things are to operate. – EX: I met a Buyer once (who did not use me) that called and was very upset that she bought a condo but was not allowed to have her beloved dog at the unit and was wondering if she had any recourse. Unfortunately, she did not read her governing docs which clearly stated that NO PETS were allowed by owners or tenants on the premises. Sadly, she was out of luck and her dog would not be allowed at her new unit.
  • Obtain Property Insurance on the property. Most mortgage lenders cannot close on the property until this is done. Ask your mortgage officer what is required.
  • Review all Disclosures that you should receive (Sellers Property Disclosure, Water Source Disclosure, Sq.Ft Disclosure, Lead Base Paint Disclosure…)
  • Let me and/or the title company know if you will be present for closing. If not, they will need time to put together a mail out. Make sure you Notarize the documents.
  • Prior to Closing, walk through the property to make sure all agreed upon Inspection related items are fixed and in working order.
  • Call the title company a few days prior to closing and ask what is required of you to bring in order to have a successful closing. Also, ask for an early copy of the Settlement Statement so you can review it prior to closing. Generally, you will need to bring a Drivers License and a Certified Check or already have the money wired to the Title Company prior to Closing.

After Closing

  • Call immediately to change all necessary utilities, phone, trash, TV into your name.  Actually, it is recommended to do this a few days prior to closing.
  • Call your Insurance Company to make 100% sure that the property is insured
  • If dealing with an Association, let them know your mailing address as well as ask them when your 1 st set of monthly dues are due.
  • It is always recommended to re-key or change codes on your property where applicable.
  • Keep an eye out for that 1st Mortgage payment. You do not want to ruin your credit score because somehow in the whole crazy closing process, your mailing address for the mortgage was misprinted or written down incorrectly.
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