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Showing posts from August, 2010

Step 8: Get Insurance

10 Steps to Home Ownership

Step #8: Get Insurance

No one would drive a car without insurance, so it figures that no homeowner should be without insurance. The essential idea behind various forms of real estate insurance is to protect owners in the event of catastrophe. If something goes wrong, insurance can be the bargain of a lifetime.

What kind and how much?
There are various forms of insurance associated with home ownership, including these major types:

Title insurance: Purchased with a one-time fee at closing, title insurance protects owners in the event that title to the property is found to be invalid. Coverage includes "lenders" policies, which protect buyers up to the mortgage value of the property, and "owners" coverage, which protects owners up to the purchase price. In other words, "owners" coverage protects both the mortgage amount and the value of the down payment.

Homeowners' insurance: Homeowner's insurance provides fire, theft and liabil…

Step 7 to Purchasing a Home in Colorado Springs

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Step 7--Make An Offer

REALTOR groups, working with legal counsel, have developed forms that are appropriate for realty transactions in specific communities. Such documents include numerous sale conditions and their wording should be carefully reviewed to assure that they reflect the terms you want to offer. Your Local Real Estate Expert can explain the general contracting process in your community as well as his role in making an offer on a Home For Sale in Colorado Springs.

While much attention is spent on offering prices, a proposal to buy includes both the price and terms. In some cases, terms can represent thousands of dollars in additional value for buyers -- or additional costs. Terms are extremely important and should be carefully reviewed.

How much?
You sometimes hear that the amount of your offer should be x percent below the seller's asking price or y percent less than you're really willing to pay. In practice, the offer depends on the basic laws of supply and demand: If…

Step 6 in Purchasing a Home in Colorado Springs

Step 6 in Purchasing a Home For Sale in Colorado Springs Get Funding
Often the cost of real estate financing is routinely greater than the original purchase price of a home (after including interest and closing costs). Because financing is so important, buyers should have as much information as possible regarding mortgage options and costs.

Your Local Real Estate Expert, Mike MacGuire can provide mortgage information, discuss financing options and recommend loan sources.

What kind of loan?

There are thousands of loans available out there from a variety of lenders, but in general, the mortgage you choose will likely be determined by at least several key factors:

• How much down? Loans with 5 percent down or less are available -- in fact, loans from major lenders with no money down have appeared in recent years.

• If you place less than 20 percent down, lenders will want the mortgage guaranteed by an outside third party such as the Veterans Administration (VA), the Federal Housing Administrati…

Remodeled Home For Sale in Colorado Springs

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Remodeled Home For Sale in Colorado Springs! This Home is Perfect for the First Time Home Buyer, if you are moving up or Relocating to Colorado Springs! Tour This Home Today! Featuring 3 Bedrooms, 4 Bathrooms, 2 Car Garage and 2,416 Square Feet. This Beautiful Home for Sale in Colorado Springs boasts Beautiful Hardwood Floors Throughout Main Level, Updated Kitchen with Granite Countertops and Stainless Steel Appliances. Finished Basement, Expansive Backyard with Stamped Concrete Patio that is Perfect for Entertaining. This Home is Located in a Great Area! For More Information on this Home For Sale in Colorado Springs or other Homes for Sale in Colorado Springs, contact your Colorado Springs Real Estate Expert, Mike MacGuire for more Information.

Gorgeous Home For Sale in Colorado Springs

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Beautiful Home For Sale in Colorado Springs Featuring 5 Bedrooms, 4 Bathrooms, 3 Car Garage and 2,700 + Square Feet. Tour This Home Today! This Home is Perfect for the First Time Home Buyer, if you are moving up or Relocating to Colorado Springs. The Home Boasts a Great Floor Plan with a Delightful Blend of Casualness and Elegance. Double Sided Fireplace Seperating the Formal Dining Room from the Living Room. There is a Spacious Dining Area off of the Large Kitchen with Ample Cabinet and Counter Space. Escape the Frantic Pace of Daily Life and Unwind in the Upper Level Master Suite with Luxurious Attached Bathroom. The Fully Finished Basement includes a Large Family Room, Wet Bar, 5th Bedroom, Bathroom and a Room that could be used as an Office or Craft Room. The Beautifully Landscaped Backyard Features a Large Wood Deck and Spacious Patio to enjoy the Warm Summer Days. This Home is Located in a Great Area with Easy Access to Schools, Shopping, Dining, Parks and More! For More Inform…

Immaculate Home For Sale in Colorado Springs

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Incredible Ranch Style Home For Sale in Colorado Springs! Featuring 4 Bedrooms, 3 Bathrooms, 2 Car Garage and 3,300 + Square Feet. Tour This Home Today! Open and Inviting Floor Plan Boasts Beautiful Hardwood Flooring Throughout, Formal Dining Room Perfect for Entertaining, Spacious Living Room that is Light and Bright with a Cozy Gas Fireplace. Large Kitchen with Ample Cabinet and Counter Space and Eating Nook with Walk Out to the Backyard. The Main Level Master Retreat is the Perfect Getaway! Featuring a Walk In Closet and an Attached 5 Piece Luxurious Bathroom. The Finishe Basement Boasts a Large Family Room, 2 Additional Bedrooms and a Full Bathroom. The Beautifully Landscaped Backyard is Perfect for Summer BBQ's on the Custom Deck and Boasts tons of Privacy! This Home is in a great Location and is Perfect for the First Time Home Buyer, if you are simply moving up or Relocating to Colorado Springs!

Contact Mike MacGuire Today, your Local Real Estate Expert for more information …