Buying a home in today’s market can be stressful. When you finally find ‘the one’ it is hard to think about letting it go when a deal breaker is found. With the right team by your side, you will be able to troubleshoot these common deal breakers and make the best decision for you.
If you find that the home you love has an old roof, don't panic. We can work together to negotiate with the sellers. Would they be willing to split the cost or put in a claim on their insurance if they have hail damage? An old roof is a concern, but it doesn't have to be a deal breaker with creative negotiation and budgeting.
Older homes don’t always have updated electrical systems. Knob and tube or aluminum wiring can be a fire hazard and expensive to replace. However, we can use these findings as a negotiating tool to get the price reduced or closing costs covered. We'll determine the best way to move forward without breaking the deal. Consult with a certified electrician to determine the most pressing repairs and those that can wait.
During your inspection, your inspector will look at the indoor plumbing and functionality, but won’t usually look at sewer pipes. Just like many of the deal breakers on our list, plumbing issues can be a great tool for negotiation to get the price reduced, closing costs covered, etc. If plumbing issues are found, work with a plumber to assess the cost and time of repairs. Sewer line repairs can be the most costly, but they can sometimes be corrected with regular cleanouts.
Sometimes sellers do some quick upgrades without a professional or permits to help their home sell. When walking through homes with your agent, looks past the gloss and shine to the real details of recent remodels. If the workmanship looks shoddy but correctable and you love the home, talk to your agent about your options before you walk. We can pull permit records to see if there are any remodels on file. Additionally, a trusted contractor can help give you a sense of the quality of the work with a simple walkthrough. If there are too many repairs needed, it may be time to go back to the hunt.
Homes near a river or stream aren’t always in a flood zone and homes a ways from a river or stream aren’t always out of a flood zone. It’s a good idea to check a home’s address is the FEMA Map Database to see if it lies in a flood zone. If it does lie in a flood zone, it doesn’t mean it’s a deal breaker. Check with your insurance company about the cost of flood insurance for the home you are interested. Talk to locals to see how often the area truly floods and if your home is one usually affected.
Some buyers see deal breakers as a reason to walk while others look for creative ways to keep the deal together and get the home of their dreams. Working with a trusted team makes the home buying process much easier as you know they are giving you sound advice. Before you start your home search, schedule an appointment with me to see how I can be on your side.
Congratulations on your new home! It's full of potential and empty rooms ready for a fresh coat of paint. It’s exciting to move into a new home but it’s also easy to get carried away. There are a handful of things you need to do when you first move into a home and a few things you need to hold back on.
Here are our 5 tips for getting settled in your new home:
The mountains of Colorado welcome vacationers looking for peace, solitude and natural beauty. If you find yourself returning to a mountain community in Colorado, you may wish to consider buying a mountain retreat in Colorado. Here are four tips to keep in mind before you buy.
Water and Utilities
There are two kinds of mountain retreats - off the grid and on the grid. You may be drawn to the idea of a remote location, but before you buy you need to know what kind of commitment you're making. More remote cabins often run on solar power, well water and composting septic systems. When you're closer to town, you'll have easier access to public utilities. Know what you're willing to compromise on and what you aren't willing to live without.
The Denver area market is slowing shifting to be more buyer friendly after years of catering to sellers. However, the market still moves fast and it's easy to get caught up in the competition. No matter how much pressure there is, you need to do your homework so you aren't stuck with a house full of headaches in the future.
Here are 5 tips to help you avoid common new buyer scares:
Get an Inspection
Even if you're trying to cut back on closing costs, do not skip a home inspection. You don't want to be happily sleeping in your new abode when you start getting rained on because your roof needed to be replaced. Home inspections won't catch everything, but they will help you prevent major headaches and big repair bills. A home inspection will point out potential repairs in your home and give you power to negotiate with the seller.
It's not uncommon to see the Denver real estate market slow down in the winter. The temperatures are dropping, the holidays are in full swing and kids are fully settled in school. It's understandable to not want to move when it's cold which is why inventory and prices often drop during this season. However, if you're a motivated buyer who can handle a little cold, you can snag a great deal in the off-season.
Here are our 5 reasons to buy in the winter:
Lower inventory and fewer buyers means the prices often drop when the temperatures do. Historically there are fewer people looking for homes in the winter, which drives prices down. Buying during winter could mean you will pay a little less for your dream home than you would in say, June.
Condos often a good option for singles, young couples and empty nesters. Low maintenance condos allow for peace of mind and more time to do what you love. While most of the process of buying condo is the same as buying a regular home, there are a few unique items you need to be aware of.
Here are 5 important things unique to buying a condo:
Real estate contracts are full of unique terms you may not be familiar with. When you’re in the process of buying or selling a home this can be confusing. You’ll have QuinnCorp by your side every step of the way, but before you get started on your real estate journey here are a few definitions to help you along the way.
Here are explanations of 5 common parts of a real estate contract:
Working for yourself has a lot of benefits. You can enjoy a flexible schedule, control your income and do what you love. But there can be some downsides too. When you’re ready to buy a home but you work for yourself or work as a freelancer, you may find it harder, but not impossible, to get approved for a mortgage.
Here are 5 tips to help you get buy a home as a freelancer:
If you own a business and have one stream of income, this should be easy for you. However, if you work more a gig structure with multiple sources of income, organization is absolutely crucial. You will need to track down proof of employment and income, references, previous employers and landlords. It’s going to be quite the pile of documents, but it will make your life easier in the long run. You will need to convince a lender to loan to you, unlike W2 employees who have pay stubs to show. The more you have to prove you are a safe person to lend to, the better off you’ll be.
QuinnCorp strives to offer the best real estate service possible. We often say, Ed doesn’t just have clients, he makes friends for for life. This month Ed is taking over the blog to share one of his most exciting stories of a long time friend and client.
Mike and I have been friends for many years. During our friendship each of us have had our share of highs and lows. Yet because we can say, “We’ve been friends”, it’s our friendship that makes the lows not so low and the highs even higher.
2017 is the year we will share a wonderful high together as I help Mike find his mountain home. Over the years I’ve helped Mike buy and sell homes down here in the flatlands. A few years ago I got to help his kids buy their first home. Helping my client’s grown kids buy their first homes is one of my greatest honors as a real estate agent.
Mike loves the mountains and has climbed about every fourteener in Colorado. Many of his climbs are runs, not just climbs. He has incredible stamina and drive, two qualities that will flatten any fourteener he approaches.
Over the past few years, Mike has been battered with financial and health challenges and has not owned a home for quite a while. He recently learned from another great friend and trusted mortgage lender, Seth, about when he will be able to qualify to purchase a home. Over the past few years Seth has guided Mike to prepare him to be able to buy a home later this year. Both Mike and I say, “Thank you Seth.” You stuck with Mike over the years and helped his kids buy their first homes too.
Seth suggests Mike and I get on the physical hunt for his mountain house in November with the goal of Mike owning his home around Christmas. In the meantime, I put Mike on my Virtual Recon system to see listings as they come online in Conifer, Evergreen, Pine, Bailey, Jefferson and surrounding areas based on Mike’s wants and needs and Seth’s financial parameters.
Over the next 10+ months Mike will see listings that are active, under contract, and recently sold. By the time we put our hiking boots on the ground in November, Mike and I will be “loaded for bear.”
Virtual Recon is the best tool available for all buyers to confirm a home’s values before confidently writing an offer. Call/text/email me if you are interested in your personal Virtual Recon system.
Mike, my friend, I look forward to helping you find your mountain dream home. Now, promise me you won’t run up those steep driveways leaving me in the dust.
If you're on the hunt for a real estate agent who cares, look no farther. Contact us today to get started.
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