Stage 4 of 6
Finding the home
Agents and offers, reading the room, inspections, appraisals, and land, wells, septic and fixer-uppers.
Start with lesson 19 lessons, about 26 minutes in all. Last reviewed October 2026.
Lessons
- Agents, offers and contingenciesYou now sign a buyer agreement before an agent tours homes with you. In your offer, earnest money and contingency deadlines decide when you can cancel.
- Reading the room: how to negotiateDays on market, price history and seller motivation show how much room there is to negotiate, and when a lower price or a seller credit is the better request.
- Inspections, and what to do with themA general inspection is the starting point. In Southwest Colorado, add tests for radon, wells, septic and wildfire risk, then use the results to negotiate.
- Appraisals and low valuesA home appraisal confirms the value supports your price, and your loan is based on the lower of the two. A low value still leaves you options.
- Buying a home on acreageHomes on a few acres work with conventional, FHA, VA and USDA loans. What matters is the appraisal, how the land is used, legal access and water.
- Wells, septic and waterYou can expect a water test, a septic inspection and proper distance between the two. Shared wells require a recorded agreement, and the well permit matters.
- Manufactured homesManufactured homes qualify for conventional, FHA, VA and USDA loans when built after June 1976, set on a permanent foundation and titled with the land.
- Is it a fixer-upper, or just dated?To a lender, a fixer-upper has safety or system problems, not dated finishes. Those must be fixed before closing or through a renovation loan.
- Contractors, bids and drawsA renovation loan needs a signed, itemized contractor bid before closing. After closing, repair money is paid out in draws as work is inspected.