Buyer's Guide

You'll learn everything you need to know about the home-buying process.

Step 1: Research

Do you already know where you want to buy? If you want a condo, townhome, or single-family home? Which features do you like and dislike? What’s available on the market now? If you answered no to any of these questions, now is the time to start researching. In addition to looking for homes that interest you, also take note of any changes in asking prices. This could give you valuable insight into housing trends in specific neighborhoods and help you when the time comes to make an offer.

Step 2: Decide on Your Budget

Notice I said to decide on your budget—not determine how much the mortgage company will give you. In many cases, a mortgage company will pre-approve you for more than you’re comfortable spending, which is why you need to determine the monthly payment you feel comfortable with before talking to a lender. This likely includes doing a full household budget and taking into consideration what changes other than a mortgage payment will occur once you move into your new home. If you’ve lived in an apartment or with roommates, you may overlook new expenses like garbage, water, or HOA fees that could easily blow your budget.

Step 3: Get Prequalified

Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer on a home, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan.

Step 4: Choose a Real Estate Agent

Can you shop for, look at, and ultimately make an offer on a home without a real estate agent? Technically yes, but why would you when it costs you nothing for an agent like me to take much of the stress off your shoulders? Not only will I help identify properties you might be interested in, arrange showings, and ultimately handle the offer process, but I also have a knowledge of the market that you don’t possess. I may be able to steer you away from certain homes or neighborhoods, suggest hidden gems, or give you pointers that will help you find your dream home for the right price.

Step 5: Find the Right Home

This should be the most enjoyable step of the entire process (other than moving in!). I will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and keep an eye on traffic at certain times of the day, the parking situation, and how close it is to necessities like schools and grocery stores.

Step 6: Make an Offer

Once you have selected the perfect home, work with your agent to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is listed at and whether the current environment is a buyer’s or seller’s market, your offer may be below, at, or even above the asking price. I will be able to help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house will go into escrow.

Step 7: Have the Home Inspected

In most cases, your offer will be contingent on having the home inspected to ensure there is no major structural damage or large repairs needed. I can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there is, you can renegotiate your offer based on what needs to be fixed, or you can withdraw it.

Step 8: Select Your Loan

Now is the time to go back to the mortgage lender who pre-approved or pre-qualified you and choose your mortgage. You will be presented with various options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with your mortgage lender to select the option you feel the most comfortable with.

Step 9: Get a Home Appraisal

Your lender will have your new home appraised so they have their independent value of it. The appraisal is to ensure that all parties involved are paying a fair price for the house.

Step 10: Finish Paperwork

No one looks forward to all the paperwork involved in buying a home, but it’s a necessary part of the process. Fortunately, everything will be arranged by your lender and title company and, when you’re finished, you’ll know you are the legal owner of your new home.

Testimonials

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Rich P.

Rob is the most personable and very customer service oriented Realtor®. He will find you the home you're looking toward.

Craig S.

Rob is the best kind of Realtor®. He’s an absolute professional, trustworthy and fun to work with. He helped me buy my first home in Colorado and will help me again if I ever need another one.

Jim D.

Rob is a true professional with high moral character. He gave us great advice on how to stage our house and was consistently excellent in communication with us. Our house sold on the second day.

Matt H.

We have purchased 5 homes in our 22 years of marriage and this was by far the best experience with a Realtor® that we have had. Would recommend Rob to friends family and anyone who is needing a Realtor®!

Seller

Rob helped us get top dollar for a condo that didn't have many comp's. In fact, he set the market on price per square foot! He was always confident, and followed through on that confidence which only means one thing, he is sure...

Mark F.

I highly recommend Rob for your real estate needs. When it comes to selling your home or property, above all else you want an agent with high ethical standards, responsive, and knowledgeable. Rob is tops in all aspects. Rob had...

Beckman B.

I would highly recommend Rob to anyone looking to invest in a home. He helped guide me through the process and pointed me in the right direction of who I could contact to figure out the right price point for my budget. He liste...

Tim W.

Rob is an absolute rock star Realtor®! If you choose not to work with him, you are making a big mistake. Buying or selling a home is a complicated and stressful process. Rob has an incredible talent of simplifying and destressi...

Casey P.

Rob presented a phenomenal service to my fiancé and I as we pursued the adventure of purchasing our first home. Despite the restrictions and obstacles set in place due to COVID, Rob exceeded expectations and helped us to find t...

Alex M.

Rob and I have worked in multiple houses by now and I couldn't ask for someone as attentive and informative as he is. All the way from the beginning till the end he has been more than amazing with each home we have dealt with. ...

Scott & Katherine S.

We have bought and sold 7 homes over the years, and we can honestly say that Rob is by far the best Realtor® we have ever dealt with. He is so quick to respond to any questions you might have, he listens first, and his integrit...

Buyer

Stop your search and look no further! Rob Thompson is that incredible! After pondering off and on about our potential move, working with only Rob from beginning to end, we committed to our house hunt. A true professional whose ...

Chris B.

Rob was great. Helped out through the entire way of listing and selling my prior home, and buying a new one. Arranged the closing process to coincide with each other so there was only a small week lease-back to allow for moving...

Jake L.

Working with Rob was an amazing experience. He helped sell my wife’s condo and helped us score our dream single family home in Denver. His patience and responsiveness made him easy to work with, and his industry knowledge and r...

Jessica H.

Wow! What a great experience. My fiance and I recently built our first home and Rob was there every step of the way. Because I am a first time home buyer I had a lot of questions, there were times I would email or text Rob late...

I connected with Rob Thompson when I decided to move cross-county from Georgia to Colorado. I am so grateful to have had the opportunity to work with Rob as it is obvious he truly loves his profession. Rob was so accommodating ...

Cole Simmons

Rob treats every client and their unique situation like family. I know my clients are taken care of every time. Keep up the great work Rob!

Louis

Rob is very professional and a hard worker. He has great people skills and is very knowledgeable about his profession. He is very responsive and a great communicator. I do not know what more you could ask from a relator.

Keri B

Rob came highly recommended to us. We talked through what we were looking for, and he and Colten Janssen, from his team, helped us every step of the way. We were looking for a unique home and Colten was able to think creatively...

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Rob is honored every time a client puts trust in him to navigate one of the biggest financial transactions of his or her life. He takes the obligation very seriously, and he's very proud of the many satisfied clients that he has been able to help. Give him a call to see if his the right agent to help you through this complicated process.

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