The Real Estate Due Diligence Process Podcast

Tuesday, May 21st, 2019
Ryan Jenkins

A deep dive into the process of inspecting a home, performing a title search, appraisal and survey to find out if a home is suitable to buy. Should you inspect a new home? Should you get a sewer scope? Should you get a survey? What is a title search? These questions and others are discussed and helpful tips and anecdotes provided along the way. Thanks for listening!

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Often folks consider only the homes they see when searching on zillow, realtor.com, and other home search sites. And while these sites are a reliable way to find property, limiting yourself only to the homes you see online limits your options. What if in your search for homes for sale in Fort Collins or other Northern Colorado cities you had access to homes that the public does not? What if your realtor was working to get you into homes before everyone else knew about them?

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From the first step of using a mortgage calculator to actually beginning to look for a lender, home buyers don’t always know the right steps to take. The most common mistake I see buyers when shopping for a mortgage is getting quotes from a few different lenders over a period of days, weeks or even months. Since rates change daily, the only way to compare lenders on an even playing field is to get quotes from two or more banks on the same day. This will ensure an apples to apples comparison of fees. And don’t worry about getting your credit pulled more than once, your FiCO score considers all inquiries pulled within 45 days to be one single inquiry.

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How much does it cost to build a new home on a vacant lot?

Monday, December 17th, 2018
Ryan Jenkins

Using our home affordability calculator is a great first step, but you may need more help with cost estimates than that. To help clients estimate the cost of new constructions, I’m currently using $175/square foot to estimate the cost of construction. But that does not factor in utility installation costs. If your home has public city and sewer and you won’t have to run electric and gas a great distance to reach the home, $40,000 is a ballpark estimate to work around. That consists of $20,000 for a water tap, $10,000 for a sewer tap and about $5,000 for electric and $5,000 for gas. Prices will vary widely between municipalities, especially for water taps. I’m happy to help you obtain bids for each of these utility installs as part of my services when representing you on the purchase of vacant land. Also, note and when buying land without public utilities, your total cost will be closer to $50,000 as septic systems are currently running about $20,000.

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