Welcome back to the final post to our 3 part series on 15 Things Every Home Buyer Should Know Before Purchasing a Home.  The last post covered some very important topics that you should definitely check out.  Here are the final 5 things every home buyer should know.Homes For Sale in Colorado Springs

  • 11.  Megan's Law - Check the sex offender registry and any other resources to make sure you are aware of the surrounding registered sex offenders.
  • 12.  Ready to Make an Offer -  Make sure your Realtor does some in depth research on the property before making an offer.
    • Your Realtor will need to do a CMA (Comparative Market Analysis) showing recent Colorado Springs Home Values and sold homes in the neighborhood you are buying in.  This will help you get into the property for the right price and help avoid appraisal issues.
    •  Listing history should be researched by your Real Estate Agent so you know the seller's situation.  Has the home been on market for a few days or a couple of years?  How many price drops have they had and on what dates?  These will give you an incredible snapshot of the seller's situation.
  • 13.  Home Inspection - You will have the right to have a home inspection done once you are under contract on your home.  Don't take any short cuts here as this is a major investment.  You will want to hire a professional that is ASHI Certified (American Society of Home Inspectors).  A true home inspection takes about 2-3 hours to perform and is worth every penny.  Your Realtor will have a good list of Colorado Springs home inspectors for you if needed.
  • 14.  Home Appraisal - An appraisal will be required if you are financing your home.  This is typically done following the home inspection.  Your Lender will order the appraisal to confirm that the home value is at or above the lender's requirements.  Some appraisals for VA and FHA loans will have other requirements on condition and safety that the appraiser will have to review.  Your Lender and Realtor will be able to advise you on the appraisal process during the home buying process.
  • 15.  Home Warranty Plan - If you are not handy or do not want to worry about certain components in the home, then you will want to consider a home warranty plan.  It can cover things like mechanical systems, plumbing, electrical, appliances, gas fireplaces, spas, pools, septic tanks, well pumps, garage doors, air conditioners and more.  Talk to your Colorado Springs Real Estate Agent about what options you have.

Thanks for following all 15 Things Every Home Buyer Should Know Before Purchasing.  Be sure to check out the previous posts in our Blog archive to see the other 10 things on this list.