We suggest that before you start on this road you first create "your own road map".
Your map should have those items you are looking for in a new home listed in order of importance! This will both help to keep you focused and assist you Realtor in avoiding less then desirable properties for your viewing. 

In creating your "Road Map" remember that it is a dynamic tool! As you begin your search process you realize that some items that were important at the onset have become less so. We encourage our clients to revisit their "Road Map" frequently and make the appropriate adjustments.
 

Finding Your New Home/ Using a Buyers Agent:
Once you have discussed your desires with a lender of your choice and determined your comfort level, within a range of affordability, you may then consider interviewing Realtors. As a member of The LALLAS Real Estate Co. our first meetings with potential clients includes a thorough review of the various options regarding representation and agency. Among these options there is what is known as a "Buyers Agent" arrangement in which the buyer interests are solely represented by the "Buyers Agent. This differs from the agency relationship established by a Listing agent with the seller of the property. In that the listing agents sole interest is to that of the seller.

To better illustrate this point imagine the following scenario:
A buyer walks into an open house and is met by the listing Realtor after looking at the property the buyer decides to buy the property and conveys this to the listing Realtor who in turn writes the offer, which eventually may become a contract. The selling process has begun and while the listing agent is obligated to handle the transaction in an equitable manor his/her fiduciary responsibility and interest remains solely with the seller. The buyer is in essences on his/her own. The use of a Buyers Agent puts a knowledgeable professional in the buyer's corner. The fiduciary responsibility of the Buyer's Agent is solely to that of the buyer. This dramatically levels the playing field for the buyer, in terms of negotiating, inspections and almost all other implications.

Although any Realtor may play the part of a buyer's agent, there is a rather lengthy and in depth training process established by the Real Estate Buyer's Agent Council, Inc. Upon completion of the requirements the designation ABR (Accredited Buyer's Representative) is awarded. To date there are only 28,000 such designees in the U.S of which only 1,500 practice in Colorado. Frank Lallas of The LALLAS Real Estate Co. does hold the coveted ABR Designation.
 

Presenting an Offer to Purchase:
After working with your ABR designated Buyer's Representative to modify your "Road Map" and shop for the right home, the next step is to write an offer. This is usually accompanied by a personal check for a small portion of the asking price (usually between $1,000.00 and $5,000.00). This offer will stipulate the buyers terms and conditions of the proposed purchase and will be presented to the seller who then has the option to reject the offer, provide a counter proposal or accept the offer. Upon the sellers acceptance and signing the offer a contract is created and subject to the aforementioned terms and conditions which become known as contingencies. These contingencies may include specifics relevant to various aspects of the inspection process, requested repairs as a result of the buyers observation or inspection, loan availability, time constraints or the necessity for the buyer to sell their present home. Whatever any of the contingencies may be, the offer must be carefully constructed in order to assure the buyers protection. Here is where experience and diligence count and the reason to utilize an Accredited Buyer's Representative. 

 
Closing the Transaction:
Once the various contingencies of the contract have been met to the buyers and sellers satisfaction then arrangements are made to close the transaction. Orchestrating a successful closing requires a serious effort coordinating the buyer's lender, escrow or title company seller through the seller's agent as well as any other individuals or entities that may be involved with each specific transaction.
 
The earnest monies previously held in an escrow account are credited to the agreed selling price of the property. As is any additional monies in the form of a down payment .
 
There are additional fees involved with the closing and loan process which may include loan and appraisal fee, Title insurance (generally a sellers cost), Title fees, fire insurance premiums property taxes and various recording fees, to name a few. These fees and associated costs and credits will be supplied to the buyer in advance of the closing date. This buyers settlement sheet will be reviewed by the designated ABR buyer's agent his/her client in advance of the actual closing. So that the process and various financial requirements may be completely understood and accepted by the buyer in advance of the closing.