Buying Property

Prioritize Your Needs

Start by creating a prioritized list of features you want in your commercial property and the reasons why you need the features. Use it as your search guide, but remember that you may need to make some compromises. I am trained to help my clients narrow down their choices by sharing market trends and local information.

Pre-Approval

Getting pre-approved for financing often accomplishes two important goals. First, it will tell you how much you can afford and what your monthly payments would be. Second, it tells the seller that you are qualified to purchase.

The Colorado Housing and Finance Authority may be able to help you own that new home you've been waiting for.

Tour Some Properties

Next, begin visiting properties in person. I can arrange visits and attend broker tours that are in your target area and price range. When comparing, make sure to look at all aspects of the properties. Have they been renovated? How do they compare on office space and bathrooms? Are the properties located on the same or similar streets?

Making an Offer

Once you find the property you want, you need to make an offer on the property. Typically this is a very difficult and trying time since both parties have different goals. In most cases, it is better to have a third party. I can help negotiate the offer.

Between the Offer and Closing

After your offer is accepted you will need to set up, coordinate, and interpret various inspections, including hazards, building quality, title, etc. You will also need to arrange for insurance and finalize the financing.

The inspection is a major step in the buying process and there are many potential problems that can be discovered during this period.  These could include a leaky roof, radon gas, a foundation problem, and wall cracks, to name a few. These problems happen all the time. The difference between closing on your dream and starting the process all over again is what occurs during the negotiations between the buyer and the seller.

I can help you make these discussions go more smoothly. At the end of these negotiations you should "walk through" the property before the closing. This is your last chance to make sure that all the items that you have agreed upon were completed to your satisfaction.

At the closing you will sign all the appropriate paperwork and transfer funds to the seller. The property is now yours!

If you have any questions on this process, let me know, as I would be glad to answer any of your questions.

Check out these guides for more....

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