Colorado Springs House for First Time Buyer - Friday afternoon at 4:00 the conference room was full with the sellers, buyers, listing agent, selling agent and title closer. We all agreed to show up for closing not knowing if the closing was actually going to take place. My buyers were troopers, hanging in there as first time home buyers. We started by finding three houses that all had offers on them when I called to say we were writing an offer. Next came an offer on a short sale and 3 weeks later finding out the bank changed its mind to look at multiple offers vs just one. Feeling bruised from the short sale experience we eliminated looking at short sale properties at all. Found a house new on the market, offer was accepted and we were into new territory (the process of actually buying a house). For first time home buyers they were incredibly prepared, patient and accepting. They had submitted all necessary documents to their lender and were through underwriting when we went under contract. inspection went smoothly, appraisal was ordered and came back well and within 3 days of ordering. Two days before closing my first time homebuyer calls with the loan processors name and number. Would I please call and find out about closing. The time, 4:00 pm on Friday had been set and agreed upon. Without going through what will sound like a soap opera the mortgage company was not ready, prepared or in my opinion acting responsibly for their customer. Why write about this?
For Realtors it is important that we find a lender that we work well with, can rely upon and know that they will do a great job. This does not mean that something does not come up before closing ~ that happens, more often that not. There is a balance in working with a lender that the buyer has been referred to and had conversations with and I want to respect that. However, I also feel an incredibly strong responsibility to help my buyers have the best real estate buying experience possible and this means no surprises. In looking for a lender for your first house, talk to your Realtor about who their customers have used and had a successful experience with. This is not about recommending a specific lender but remembering that working with someone who has a proven history of success with buyers can make a difference for someone buying their first home.
Buying your first house comes with a wide range of emotions and keeping them in balance is an art. By working with a recommended lender with a proven history, is crucial to help keep the entire process and experience stable and low stress. This does not mean something will not happen but it does mean that it will be addressed, brought to the forefront in a timely manner and all involved will work together to get it resolved. Wishing you a good experience and joy of your first home.
About the Author: Kelly Young, GRI
- Author's website: www.sellmyhomeincoloradosprings.com
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Kelly is an Associate Broker with Red Rock Realty. She has over 12 years experience in Real Estate in the Colorado Springs and Front Range region of Colorado. She represents buyers and sellers of real estate buying homes, land for sale, mountain getaways. Specific areas include: Black Forest, Broadmoor, Colorado Springs, Divide, Falcon, Downtown, Manitou Springs, Monument, Old Colorado City, Westside, Woodmen Hills and Woodland Park. You can reach her at 719-226-0126 or by clicking "email the author" above.
