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Over the years I've helped my customers, I frequently hear the
same questions regarding Relocation and Buying or Selling a home.
Here are some of the most commonly asked questions to assist you. Do
you have a question not answered here or elsewhere in my website?
Please feel free to ask by emailing
me your questions! |
1) My company is thinking of relocating my family and me to
the Denver metro area sometime next year. I need to let them know if
I am interested within the next 60 days. How do I decide if it would
be a good move for us?
There are many factors that should be considered in making such a
life changing decision. Although it is possible to obtain the facts
and statistics about the Denver metro area and the housing market
through the web or various Chambers of Commerce, it is important
that you talk with someone who can help you to compare your present
home and lifestyle with those which Colorado has to offer.
A Realtor specializing in relocation is your best source for
information. Housing prices, schools, commute times, recreation,
health care, available childcare and housing alternatives for
elderly parents are among the most common concerns of families.
Getting a sense for these issues and comparing them to what is
available to you where you currently reside may be as important, if
not more important to you than the actual job opportunity that is
being presented.
Sometimes the correct answer to the question, "Should we
relocate to Colorado?" is no. It is not the best alternative
for everyone. However, for many, the right decision is to make
Colorado their new home.
I recommend that you immediately contact a Realtor specializing
in relocation. The information that he or she provides can be
invaluable to you in making this decision.
2) What is the difference between a Realtor specializing in
relocation and one who works in one part of town?
The Realtor specializing in relocation will have a broader
knowledge of different areas in metro Denver and be better able to
help you to compare them. It is possible to find a house that will
work for you in many different parts of town. However, there are
marked differences in how those neighborhoods and communities will
fit your wants and needs.
Your Realtor should not be telling you in which area to live.
(This happens many times with Realtors who specialize in one area.)
Instead, you should be discussing many different areas which may fit
your criteria. Together, you and your Realtor should come up with a
plan to explore your many options.
3) Where we live now, Realtors only work in one town. Do we
need a Realtor for each area that we would like to explore?
No!! All of the Denver metro area is on one Multiple Listing
Service. All Realtors will have the same access to all listings.
That means that you should select a Realtor who specializes in
Relocation so he or she can assist you in the process of comparing
different areas and communities. You do not want one Realtor trying
to sell you a home in one area because if you go elsewhere you will
be using a different Realtor. You want someone to help you weigh
your different options and choose the house that is right for you.
I strongly discourage any buyer from working with more than one
Realtor. You should find an experienced relocation Realtor with whom
you are comfortable and trust that person to assist you throughout
the process.
4) Is it possible to have a Realtor represent our best
interests in the purchase of a home?
Yes!! You have the option of working with a Realtor either as a
Buyers’ Agent or a Transaction Broker. Although either
relationship allows you to obtain the services of a Realtor, there
are some very specific differences in the level of service that you
can expect.
If you work with your Realtor as a Buyers’ Agent, your Realtor
will be representing you and your best interests in the purchase of
a home. This relationship allows your Realtor to share with you both
market statistics and opinions relating to the value of the property
in the current market. Using this information, you and your Realtor
can come up with a negotiating strategy to follow in the purchase of
your next home. This relationship is established by the execution of
an Exclusive Right to Buy Contract between the Buyer and the
Realtor.
If you choose to work with a Realtor as a Transactional Broker,
the relationship that you have with your Realtor is one in which you
direct the Realtor to show you homes and you determine how you would
like the contract to be written and negotiated. In this case, the
Realtor is not representing either the buyer or the seller and must
walk a very fine line in order to follow the guidelines that the
Real Estate Commission has set out for this type of relationship.
Although there is no written agreement establishing this
relationship, it occurs if the Buyer Agency is not established.
I strongly recommend that buyers, especially those relocating
into an area in which they are not familiar, work with a Realtor as
a Buyers’ Agent. Much of the process of buying a house during
relocation involves becoming educated about the different
neighborhoods and communities, the housing market and the process of
purchasing a home. Working with someone you trust to lead you
through this process and look out for your best interests can make a
huge difference in how smoothly the process goes and how happy you
will be in the house and neighborhood that you choose. This is too
important for you not to have all of the information you need in
order to make your best decision.
5) We will not be able to come to Colorado to look at houses
for a couple of months. Can we start the process before we arrive?
Absolutely!! You should start right away. There is much that can
be done prior to your actual arrival in Colorado to help to educate
you with the housing market and home buying process. That way you
will be able to maximize your time when you are in town.
You should start by talking with a Realtor specializing in
relocation. Your first conversation should focus on your current
lifestyle and housing as well as possible options within the Denver
Metro area. Most people who are relocating from one city to another
go through a period of frustration and anxiety. It comes about
partly from not knowing what awaits them in the new city. The most
difficult period occurs when families are contemplating all of the
"what ifs". What if we cannot afford a house in Colorado?
What if we can’t find a house that we like? What if the schools
are not able to meet our children’s specific educational needs?
What if, what if, what if………?
The sooner you talk with a relocation Realtor, the sooner you can
start sorting through the information that will be important to you
in finding your next home.
6) What information is important to obtain immediately upon
looking at the possibility of relocation?
A conversation with your Realtor specializing in relocation
should assist you in getting a sense of how your current housing and
lifestyle compare to that in the Denver metro area. This should
include such considerations as price range, commute time, type of
community, lot size, age of homes, types of landscaping, proximity
of activities important to you, schools, history of the Denver metro
housing market, current market conditions, new housing versus resale
housing, style of housing, recreation opportunities and other topics
specific to your situation.
You should also get an overview of how the process works. There
is a difference if you are interested in a new home or a resale
home. In may cases you will need to have your current home at least
under contract. You will be in a better negotiating position if you
have already contacted a lender and are pre-approved for a loan.
Even though this does not necessarily mean that you will be able to
negotiate a lower price, it may be the difference between a seller
choosing your offer over that of another buyer.
By talking through your questions and concerns, your relocation
Realtor will be better able to assist you in obtaining information
to address these issues. Together you will be able to come up with a
plan for educating you about the market and the process and prepare
you for a productive use of time when you arrive in Colorado.
7) How do we determine how much house we can afford?
Prior to the start of your house hunting, you should contact a
lender and start the loan application process. This will help in a
several of ways. First, you will have some idea of how much home you
can afford – both total price and on a monthly basis. You will
also find out what closing costs you will incur in addition to your
down payment. By going through this process, you will be able to
determine a price range in which to concentrate when you start your
home search. Second, your loan processing can begin while you are
looking for that perfect home. This will allow you to submit with
the contract a letter from your lender with a purchase contract to
show that you are a ready, willing and able buyer. This can be very
important in negotiating your best purchase terms and in some cases
where the seller is looking at more than one offer, can make yours
more attractive since a lender has already assessed your financial
capability. Third, this will help to save time and should you decide
to close quickly having this step accomplished will allow you to do
so.
Most buyers find that they have two different price ranges. One
is their comfort level. The other is what they can actually qualify
for. The payment calculator below will
help. Your lender will be the real guide in this process. Your
Realtor will be able to refer you to a competitive lender who
specializes in good customer service.
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