Buying a Home

Interested in buying a home? More than likely you have discovered our team through our books, websites, social media, open houses, signs, trusted advisor, friend, relative, or any number of places during your discovery phase. Maybe you have been ‘kicking the tires’ for a few years and still need more information.  You’ve listened to radio shows, podcasts, watched TV shows or online videos, or searched online via large national sites, and more.

You are thinking of discovering, buying, weighing your options, gathering information, and ‘kicking the tires’.  You are researching all that you can, and perhaps talking about it with a few people.  Perhaps you’ve been in the area, driving around or even staying in a unit that is for sale.  You have been ‘window shopping’ on main street, dreaming of the possibilities.  We can answer any questions you have at this time about buying a home, knowing that you may or may not decide to buy. Stay tuned for Step 2 in the Home Buying Process!

Buying a distressed property can make anyone feel somewhat uneasy.

If you are thinking of buying a house that is “distressed”, consider the following:

1. Short Sales aka “Pre-Foreclosures”: There is nothing “short” about the timing.  The seller is selling their bank mortgagor short.  Do not fall in love with a short sale listing if you are the Buyer.  Even when your agent submits an offer to the Listing Agent, the Listing Agent then has to wait for bank approval.  This process of approval could take anywhere from 90 days to 2 years or more.  These were more prevalent after the bank fallout of 2007.  We lived and sold distressed properties through these tough years of pre-foreclosures and foreclosures, and learned a lot.  It takes a special agent to negotiate a short sale, so be sure you are working with someone experienced and/or educated enough to represent you wisely.
2. Real Estate Owned “REOs” aka “Foreclosures”: The bank has taken back the house as collateral.  The seller defaulted on payments, so the bank went through the lengthy process of repossession.  These were also more prevalent after the bank fallout of 2007.  Sometimes the bank will take less than asking price, but more often than not, they are already taking less than what was owed.  Again, it takes a special agent to negotiate a foreclosure, so be sure you are working with someone experienced and/or educated enough to represent you.
3. Courthouse Steps Auction Sales aka “Foreclosures”: In Summit County, Colorado, we are one of the last few remaining counties that still sell properties at the courthouse steps.  Colorado is a “Public Trustee State”, the only one in the United States where the State can foreclose upon properties on behalf of lenders.  A wire in the amount of your maximum bid is required to be initiated to the County 24 hours before the sale.  Sales are held on Friday mornings at 7 a.m., in-person at the Courthouse on Lincoln Avenue in Breckenridge, Colorado.  The Mountain Dream Team can be present for you, or you can visit to take part in the auction.  Properties are sold sight unseen with notification of sales sent out the Wednesday prior to the Friday of the sale.
4. Sheriff Auction Sales aka “Foreclosures”: These sales are almost identical to the Courthouse Steps Auction Sales.

If you are a homeowner who is:

1. In trouble financially
2. have not been able to make payments
3. Are barely scraping by
4. Or are considering bankruptcy

Please call us immediately at 970-368-2124.

We can guide you through the process and give you possible choices such as a short sale or payment deferral negotiations. Furthermore, we can also connect you with reputable attorneys to advise you beyond our expertise.  Or we can sell your house for a quick sale so that you can move on from the painful experience.  We never want you to lose your home, and would do everything in our power to help you through the process.