Colorado Home Mortgage Banking

The busiest season for Colorado Homes to go on the market is the summer season.  Colorado Homes will experience an increase in inventories during the summer months.  There are lots of reasons that Colorado Homes will be listed this summer, but what I am going to talk about today will be what you can expect during the negotiation process in buying that Colorado home.  I get calls almost everyday asking me about Colorado Homes that people can buy for 20%-30% below market value.  I would like to get these Colorado homes to all my clients, but think about it, if they are worth that much more, why would the sellers not sell if for that much more.  The only homes you will find where you can walk into that kind of equity can only come in one of two ways.  First, you know the sellers personally and for some reason they want to give you that kind of equity, but normally when this happens you are still giving something up to get that equity.  The second way is a foreclosed property in a nice neighborhood that needs extensive work.  When I say extensive work I mean a real dive:-)  If you really want to know what to expect in the negotiation process it is actually quite simple.  I see about 20 accepted contracts a month, and each of these contracts have a common trend associated with the contract.  That common tie is about 3% below asking price.  You can ask for that 3% by dropping the sales price or by ask for the 3% in seller contributions towards closing costs.  Any home that is in good condition and at a fair market price will more then likely accept a contract under these terms.  There are Colorado Homes to beware of.  Some sellers have been put in a tough situation and will be maxed out on their equity.  These sellers will probably not budge on the price because they do not want to bring money to closing.  These are the Colorado Homes you should stay away from.  No reason for you to pay for someone else’s problem.  Call me anytime and we can discuss this in much greater detail.  I would also caution you on fraud issues currently going on with Colorado Homes by doing your research.  I have an example of fraud on my other site www.coloradohomemortgagebanking.net/news In the mean time have a great weekend and God Bless:-)