What You Should Know Before Putting in an Offer on Real Estate in Summit County.
1.)Get to know the area
When you’re looking for real estate in Summit County, it’s crucial to connect with a knowledgeable local real estate agent who possesses an intimate understanding of the market and all the neighborhoods. This will greatly enhance your overall experience. Having a comprehensive grasp of the various resort towns, neighborhoods, local businesses, and current guidelines is vital as it enables you to pinpoint the perfect area that suits your requirements. It’s essential to discuss rules, regulations, HOA guidelines, homeownership expectations, and buyer closing costs prior to making an offer.
Click to learn more about Breckenridge and the surrounding communities in Summit County.
2.)Transfer tax
A real estate transfer tax is a one-time payment, paid at the closing table. This is a negotiable item which can be paid by the Buyer or the Seller. The transfer tax provides future owners and residents of the town with certain amenities, services and benefits. This includes parks, trails, recreation, arts and cultural activities, infrastructure and capital improvements as well as community events.
Applicability of transfer tax and its percentage varies by town and neighborhoods. Ask your Summit County realtor if the properties you are interested in, require a transfer tax. The percentage varies from 0%, 1%, 1.5% or 2% of the total purchase price.
3.)Importance of using a local lender
Resort communities are speckled with unique ownership opportunities. This includes time shares, condotels, single family and a variety of others. Some have transfer tax, some have resort fees, some have HOA fees and some have all of the above. The fees can be due monthly, annually or quarterly. A local lender who knows the specifics of these neighborhoods can save you a lot of time, money and frustration because they know how to set up your loan structure in our unique resort communities.
Click the town and search for Active Listings in Breckenridge, Frisco, Silverthorne, Dillon, Keystone and Copper Mountain. It is important to work with a local real estate agent. Call Jillian Turner today!