Use Caution When Buying a Home!

Denver Relocation News

When moving to a new area, many people bring with them the understandings they developed back home.  Not that there’s anything wrong with such knowledge, but in a new location it doesn’t always apply!

How so?

Well oddly enough, each state has different laws.  So for instance when moving from the east coast, let’s say Connecticut to Colorado you may be surprised (and frightened) to learn we close real estate contracts without using an attorney!  Yes, it’s true.  Our contracts are written specifically so Colorado real estate brokers are permitted to “fill in the blanks.”  For 99.9% of residential real estate deals that’s all that’s needed.  Of course, if you want to hire an attorney to represent you, you certainly may do so.

Use Extreme Caution When Hunting for a New Home

Colorado has different laws about agency.  Most consumers are well aware of how important it is to have your own representation when purchasing real estate.  That means if you are a buyer, going directly to the listing agent or worse yet the on-site-sales agent is not the way to get representation.  In both cases the agent or on-site sales person by law represents the owner of the property (not you!).  By going directly to them you can jeopardize your negotiating position, sometimes innocently before you even know it.

I call it, “giving away the farm.”  Savvy agents strike up an informal conversation with you, or you might perceive it as informal, but all the while they are “qualifying you, by asking indirect questions that may later be used against  you. Ouch!

Builders Co-operate with Brokers in Colorado

Many parts of the country find that home builders refuse to work with real estate agents.  They prefer to sell directly to the consumer.  Well that’s not so in Colorado. Here we work together with builders, as real estate brokers we can show a consumer ALL the GOOD builders in the area not just one.  In fact, the builders and brokers in Colorado have worked together for years, because we understand how important it is for the consumer to have buyer representation!

As a Colorado real estate broker I make it my business to know the various areas and the products offered by the builders.  I also know which builders service their buyers AFTER the sale, because I talk to my clients and they tell me if they are satisfied.  To me the most important aspect of buying a new home is satisfying the client by providing good service not just during the transaction, but long after the ink has dried on the deed.

More reading:

Common Mistakes to Avoid When Buying a Home

Denver Real Estate – Frequently Asked Questions

About the Author

Kristal Kraft
Kristal has been helping buyers and sellers in Colorado since 1984. She enjoys sharing her knowledge of the Metro Denver Real Estate market via blogging and in person while driving around the beautiful Rocky Mountain town of Denver! For fun, Kristal enjoys shooting things with a Canon. Visit Denver Photo Blog