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Frequently Asked Questions About Buying a Home

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What is a "Buyer's Agent"?

Why should you have a home inspection?

When do I need to find homeowner's insurance?







What is a "Buyer's Agent"?

A Buyer's Agent is a real estate licensee who is hired by a prospective Buyer as an agent to find an acceptable property for purchase and to negotiate the best possible price and terms for the buyer. The agent represents the buyer's best interest throughout the transaction. It makes sense to have someone on your side throughout the transaction. Check out my Buyer Agency page to learn more.
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Why should you have a home inspection?

According to the Department of Housing and Urban Development, buying a home is one of the most important purchases you will make in your lifetime, so you should be sure that the home you want to buy is in good condition. A home inspection is an evaluation of a home's condition by a trained expert. During a home inspection, a qualified inspector takes an in-depth and impartial look at the property you plan to buy. The inspector will:
Evaluate the physical condition: the structure, construction and mechanical systems.
Identify items that should be repaired or replaced.
Estimate the remaining useful life of the major systems (such as electrical, plumbing, heating, air conditioning), equipment, structure and finishes.

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When do I need to find homeowner's insurance?

Homeowner's insurance (also called Hazard Insurance) is vital to your home purchase. In fact, if you are securing a loan for your purchase, the lender is probably going to need proof that you are going to have insurance on the property. This protects their investment in you. Most homeowner's insurance policies cover: fire, lightening, windstorm, hail, explosion, riot, aircraft damage, damage by vehicles, smoke, vandalism, theft, breakage of glass, falling objects, weight of ice/snow/sleet, burning/bursting/bulging heating system, burning/bursting/bulging air conditioning system, bursting hot water heater, water damage for plumbing or heating system, frozen plumbing, power surges to appliances, volcanic eruption (although I don't think we'll see this in Colorado Springs!). You can see why it's so important to have homeowner's insurance on your new investment. When you find the right house, it's a good idea to contact several insurance companies to "shop" the insurance. You will often find that different companies offer varying degrees of coverage for different pricing structures. If you would like a list of experienced insurance agents that serve the Colorado Springs area, please let me know.

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More Frequently Asked Question for Buyers coming soon!

        

      

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