Eddie Hurt Buyer Guide

Buyer Guide Eddie Hurt Broker Associate REALTOR®

6385 Corporate Center Drive Suite 301 Colorado Springs, CO 80919 (719) 339-3765

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Proud Colorado Native, enjoys the outdoor lifestyle

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Licensed since 1998, all with ERA Shields

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PPAR Board of Director 2024

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District 11 School Crystal Apple—Chair 2024-Current

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MSCA President/Board Member since 2012

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Coronado High School Varsity Soccer Coach 20172023

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Managing Broker 2006-2008

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Relocation Expert—Former Relocation Director, extensive experience with military and corporate relocations

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B.S in Business Management

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8 years of Sales and Marketing experience in the ski industry

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Eddie holds the National Association of REALTORS® designations of Certified Negotiation Expert and Pricing Strategy Advisor He is annually among the top 2% of agents in terms of sales production Blessing Hurt is the #1 ERA team in Colorado and the entire Mountain Region Over 25 years of experience in residential real estate in Colorado Springs Will educate you on how well priced a listing is and build a strategy with you to get you the home you want at a fair price.

Eddie utilizes state-of-the-art technology to help you from becoming overwhelmed, keep you organized and limits your stress.

Eddie authors the monthly “Stat Pack” for use by all ERA Shields agent and their clients He will be your trusted advisor and is an excellent listener

Eddie knows the Pikes Peak Region as he grew-up in the area and has raised his family here Eddie went to K-12 schools in Colorado Springs and has stayed involved with schools as SAC President and currently the Varsity Soccer Coach at Coronado High School Has been involved with PPAR, Big Brothers/Big Sisters, UCCS University Club, The Chamber & EDC, Leadership Pikes Peak and MDA to name a few Eddie is married with two teenage sons and a dog Eddie enjoys skiing, mountain biking, camping and traveling with his family

“I provide a seamless and personalized home -buying a n d s e l l i n g e x p e r i e n c e , r o o t e d i n t r u s t , t r a n s p a r e n c y, and a deep commitment to my clients best interests. ”

COMMITED AND INVESTED IN YOU It’s More than a House—It’s Your Home I understand the emotions associated with buying a home and know that it is one of the most important decisions you will make. I am here to partner with you to make this a seamless transaction with the least amount of stress and inconvenience because fostering relationships is what I am known for.

Hard Working I am a top producing REALTOR® working with the most respected real estate company in the Pikes Peak region. I am committed to serving you with exceptional professionalism, knowledge, honesty, and integrity. Having grown up in the area, I have extensive knowledge related to Colorado Springs area real estate. This experience, allows me to help you determine pricing, provide strategies for your offer, and effectively negotiate on your behalf. I also offer lists of reputable vendors to assist you as you move through the home buying process.

World Class Service I am dedicated to providing you with the highest level of service while assisting you in finding the home of your dreams! I value your time and aim to ease the stress of buying a home. As a professional REALTOR®, I will walk you through every step of the purchase process, maintain consistent communication throughout the transaction, provide thoughtful counsel, and be there for you at closing and beyond.

Questions or More Information?

The enclosed information acquaints you with our services. This information summarizes my process for getting buyers to the closing table. Please do not hesitate to contact me if you have further questions.

WHAT MY CLIENTS HAVE TO SAY “Our experience with Eddie was wonderful! He walked us through the new to us process of selling our current home and building a new one. He was always available to answer our questions or do anything we needed. He went above and beyond- helping touch up paint to get our house ready to sell and playing with our kids during a meeting when we couldn’t find a babysitter. He also helped us sell our house for a great price. We wish we could recommend Eddie with 10 stars!”

Matt & Liz Giesman “Eddie negotiated a fair deal with the builder and followed up with the builder and us repeatedly to make sure the move was a smooth one. He is one of the most professional, proactive, personable real estate agents with whom I have worked over many decades in Colorado Springs.”

Mayor Steve Bach & Suzi Bach “Eddie assisted us in selling our last home and in buying our current home. He is nothing less than action-oriented, friendly, professional, knowledgable, timely, and hard-working. As most people know, buying and selling a home can be stressful, but with Eddie our experience was easy and comfortable. I will recommend Eddie to anyone interested in selling or buying a house. He is delightful to work with!”

Lisa Jones “From the first meeting with Eddie it was clear he was the best person to work with to sell our house. He and Michelle laid out a great plan to market and promote our property and they followed. through on every part of the plan. Everything about the experience was professional but with a personal touch. Our property sold quickly and Eddie stayed by our side through the closing process. The entire team at ERA Shields was top-notch.”

Ken Ralph “Eddie Hurt - Couldn’t say enough great things about him. Great communication before and after the sale.”

Alex & Kris Spalloni

ABOUT ERA SHIELDS Reputation - Stability - Trust • Global Company • Reputation for personal, friendly and honest service • THE award winning real estate company in the region—Colorado Springs Small

Business Person of the Year and Colorado State Small Business Person of the Year • Top 15 of all ERA companies worldwide • Strong community involvement • Founded in 1985

Dedicated - Professional - Full Service Team • ERA Shields agents are ALL full-time professionals • Offices are open 7 days a weeks with customer service representatives and

agents on duty for fast action if a buyer wants to see a home • Quick customer response using the most current technology to handle online opportunities • Full service marketing, relocation, IT, customer service, human resources and accounting departments • On-site mortgage lender for quick decisions • ERA Shields agents have amongst the highest average agent production in the Pikes Peak region • ERA Shields agents continually improve their knowledge and expertise through in-house educational programs, continuing education and special certifications

Exclusive Programs - National Relocation Network • ERA International Franchise System is owned by Anywhere Real Estate, the

largest real estate company in the world.

• ERA Shields is the Colorado Springs Principle Broker for Cartus Relocation. Cartus is the world’s largest relocation company in the world completing more corporate and military relocations than any other company.

THE BUYING PROCESS THIS SECTION LAYS OUT A ROADMAP FOR THE HOME BUYING PROCESS: Establish a Brokerage Relationship In the simplest of terms, establishing a brokerage relationship means signing an agreement to work exclusively with me, your broker. However, our working relationship is far more than a contract—it is the key to finding the home that meets both your needs and your budget. I prefer to work with you as your Buyer’s Agent, which allows me to promote your best interests with the utmost good faith and loyalty.

Get Pre-Approved Before you begin your home search, it is vital that you visit with reputable lenders to explore different mortgage options, learn how much home you qualify for, and get pre-approved. Speak with a few lenders and decide who you prefer. A home is a huge investment so it is important to make sure you have confidence in your lender. Any lender can get you a good rate and some can provide low closings costs, but not all offer great service. I strongly encourage you to work with a local lender who understands the local market, typical closing costs for the area, and local government regulations. Once you’ve decided on a lender, obtain a written pre-approval letter to accompany any offers you wish to make toward a purchase.

Search for Homes Once you know the price range you qualify for, the search can begin. Now, decide where you want to live and what you want in a home. Understanding your wants and needs makes it easier for me to show you only the homes which meet your requirements, thus saving you time. After you have defined your home requirements, we will search the MLS for all properties that meet your criteria, preview the most likely candidates and then arrange for you to see the best possibilities.

THE BUYING PROCESS Contract to Buy When we find the home you want to purchase, I will draft the offer and present it along with your loan pre-approval letter to the listing agent. Writing an offer involves a deep understanding of the market comparables. This means helping to determine the right price to offer so that you get the best price possible while making sure to not undercut or offend the Seller. If the Seller accepts the offer, it then becomes a legally binding contract.

Due Diligence Items (HOA Info, Survey, Title Work, Etc.) Once we go under contract, you will start to receive information about the home and property. If there is an HOA, you will get information about rules, regulations, fees, and financials. You will learn about any encroachments there may be, agreements between neighbors and much more. If anything is not to your liking you may ask the Seller to resolve it or you can terminate the contract.

Get a Home Inspection I always advise my Buyers to hire an independent, professional inspector to inspect the property within the time frame established by the purchase contract. If the property does not pass your subjective determination of condition, then you can terminate the contract or request the Seller make repairs or ask for concessions. Having the property inspected before the property is appraised is also a wise financial move. If you and the seller cannot come to an agreement on the inspection, you do not want to have to pay for an appraisal.

Have the Home Appraised If you are getting a loan to purchase the home, then the lender will require the home be appraised. The timing of the appraisal is critical to make sure it does not happen before the inspection but occurs early enough to not delay the closing.

Close the Transaction Once all the contingencies in the contract have been met and the lender has approved your loan and issued a loan commitment, your loan and real estate transaction can be closed. At closing, you and the seller will sign all necessary documents to transfer ownership of the property and record the mortgage and deed information. You will receive a copy of all closing documents and be given the keys to your new home!

MORTGAGE 101 Choose A Lender As mentioned before, I strongly advise my clients to work with a local lender who understands our market. Speak with a few lenders and choose the one you like the best.

If lenders know they are competing for your business, they will offer you a great rate and low closing costs.

Get Pre-Approved and Understand The Buyer Disclosure Once you select a lender, work with them to obtain a pre-approval. This requires the lender to pull your credit, verify your income, assets and debts. Many times Buyers qualify for more then they are comfortable with. If you tell the lender what you are comfortable with for a monthly payment and how much money you have available for the down payment and closing costs, they can produce a Buyer Disclosure. This document will give you a detailed breakdown of the loan, costs, and payments.

Types of Loans Conventional - The most common mortgage. These loans are typically more difficult to qualify for and are not government insured, meaning if you default on the loan the lender is at risk of losing money. Conventional mortgages traditionally require a 20% down payment to avoid private mortgage insurance or PMI. However, there are loan products available with downpayments as low as 3% but will require PMI which is an added cost.

VA & FHA - These are government insured loans, meaning if you default, the government is at risk of losing money. They require little (FHA, 3.5%) or no (VA, 0%) down payment, may have lower closing costs than conventional loans, and typically have a bit higher mortgage rates. They also have maximum loan limits.

MORTGAGE 101 Origination Fee or Underwriting Fee Most lenders charge an origination fee or underwriting fee which typically ranges from 0.5% to 1.5% of the loan value. This fee is usually the amount the lender charges the buyer to process the loan. For example; if the loan amount (not the purchase price) is $100,000 and the origination fee is 1%, the cost to the buyer for this loan would be $1000.

Discount Points These are the fees the Buyer may pay to the lender to get a lower mortgage rate. This is often referred to as “buying down the rate”. In general, 1 discount point paid at closing will decrease your mortgage rate by 25 basis points (.25%). For example, if you are getting a $100,000 loan at 5% and pay a point ($1000) to buy down your rate, your new mortgage rate would be 4.75% Points are not set by government regulation but by each lender individually, so points vary from lender-to-lender and day-to-day. Lenders charge points to increase the yield for mortgage investors. If rates on mortgage loans are lower than other investments such as stocks or bonds, then lenders charge points to make mortgage investments more competitive. Additionally, when business needs, military requirements, or other government borrowing creates a heavy demand in the money market, money for home mortgages becomes scarce and more expensive. When this occurs, more points can be charged. Essentially, points balance the market.

My Preferred Lenders Lendello Mortgage—Jim Harmelink, 719-651-0291  Advantage Home Mortgage—Michelle Hylton, 719-231-7981  Guaranteed Rate Mortgage—Kody Miller, 719-494-9718  ENT Federal Credit Union—Gina Allman, 719-510-5061  All Colorado Mortgage—John Haney, 719-357-6601 

THE INTERNET The Importance of the Internet The internet is a great tool which can help expedite finding the home you buy. It can also make your home search overwhelming. Here are a few tips; 

Allow me to set-up a search within our MLS system. This is the best website as it has the newest information. It is always up to date and allows me to communicate with you very easily and it has nice features on it which allow you to categorize listings by: Favorite - Possibility - Trash.

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Input the items in your search criteria which you MUST have. These include the minimum number of bedrooms or bathrooms you could live with, garage spaces, price range, location, and style of home. For example, if you really want four bedrooms BUT if the “perfect” home came along and you could live with just three, you should enter three into your search criteria.

We recommend these sites for additional searches outside of MLS:

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www.homes.com Homes.com has become very popular recently and shown they have innovative tools and layouts which many buyers like. They have been gobbling up market share over the past couple of years.

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www.REALTOR.com This site for years was the most popular place for buyers to find homes as their data is always fresh and accurate. They have had to “up their game” recently now with the added competition from Homes.com.

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www.Zillow.com This site is very popular with sellers because of the features they offer and the Zestimate. Unfortunately, it has issues with showing the accurate status of properties (i.e. homes that sold still show active sometimes). One nice thing about this site is it does show some For Sale By Owner listings.

FROM CONTRACT TO CLOSE Real estate agents perform over 250 tasks during a real estate transaction.

Here is a short summary of many of those tasks: Getting Started  

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Meet with Buyer and review Buyer Guide Give an overview of the buying process Gain an understanding of what they are looking for in a home Introduce to a preferred Lender Prepare, review and execute the Buyer Agency Agreement Show homes Determine the market value of any home Buyer is interested in Write offer Review the contract with the Buyer Submit offer Negotiate terms of offer

Under Contract  Email to Buyer the “Next Steps”  Deliver contract to Lender  Make contact with the Title Company  Deliver earnest money deposit  Receive HOA documents (if applicable)  Order ILC?  Review Title Work to ensure no liens or clouds on the title  Make sure Buyer has spoken with insurance agent and is satisfied with terms  Schedule the home inspection and any additional inspections (sewer line, radon, roof)  If there is a well, complete proper inspections and documents  If there is a septic system, complete the proper inspections and documents are  Write-up the Inspection Objection or Termination  Negotiate the Inspection Resolution  Make sure appraisal has been ordered

FROM CONTRACT TO CLOSE Under Contract (continued)  Send Resolution or Amend to Lender and Title Company  Verify with listing agent appraisal has been scheduled  Ensure appraisal comes in at value and with no conditions  If any appraisal issues, these must be resolved  Order home warranty (if applicable)  Send to Buyer the “HOME Stretch” email  Schedule the final walk through  Schedule Closing  Verify with Lender that they have the clear to close  Make sure Title Company has final figures and prepared Settlement Statements  Review Buyer’s Settlement Statement with them Closing  Final walk through  Make sure Buyer has “good funds” prior to Closing  Make sure file is complete  Attend Closing

Most importantly, I want your transaction to be smooth and problem free - from contract to close.

You can expect me to provide top-notch customer service.

BUYER EXPECTATIONS Resale Value - I am not only trying to find you a home that fits your needs, but also want to find you a home that you love and has great resale potential. I hope to be your REALTOR® for life and if you decide to sell it down the road, I want you to understand any potential challenges. So, if you fall in love with that over-improved, bi-level home that backs to a busy road, I will give you my professional opinion of the future limitations of selling the home. If you decide you still want to pursue the house, I will help you get it for a fair price!

Current Market Value – When we find a home upon which you want to offer, I will help you determine if it is priced appropriately or not. I will provide you with the most recent comparable sales and my professional opinion of the home’s current value so you can determine how much to offer.

What to Offer – Once we have decided on the current market value of the home, we will discuss strategies to get you a fair price for the home. I caution my clients about submitting “low ball” offers— Offers 5% or greater below the market value . It usually offends the Seller who will then be less likely to want to work with you at any price.

Closing Costs – Closing costs (fees from your lender) are not automatically paid by the Seller and they are not the same thing as a down payment. Closing costs are the fees charged to you by your lender to get the loan, they are in addition to the down payment. Typically, if you have enough cash to cover the down payment and closing costs it makes sense to get a lower sales price than to ask the Seller to pay your closing costs. If you are getting a low or no down payment loan because cash is tight for you, you may want to consider asking the Seller to pay for some or all of your closing costs (understanding that you are then financing these fees for the duration of the loan). If you go this route, you should also expect to pay a higher price for the home, as the seller will take these costs out of their net. This can be a confusing, so we can discuss this further in person before you make an offer.

BUYER EXPECTATIONS

Inspections - Typically, there are a few inspections we recommend, a general home inspection, a radon inspection, and a sewer line inspection. A home inspector can be considered a “jack of all trades, master of none”. Over a three hour period or so, they will do an inspection of the entire home. Sometimes they come across an issue they cannot address. In these situations I will advise you to hire a specific industry contractor who can better assess the concern. The items I typically advise Buyers to ask the Seller to repair are those which are considered health issues, safety issues and/ or potentially major capital expenses.

Vendor Referrals - I recommend a host of people including lenders, home inspectors, and contractors. I base my relationships with these venders over the past 20+ years of working with them. My vendors have delivered exceptional service to many of our clients. Unfortunately, I cannot guarantee their service to you, so it is important that you still use due diligence to make sure they are licensed and insured because we do not track this from day to day.

Walk Through – The morning of or the afternoon before closing we will do a final walkthrough. This is an opportunity for you to make sure the home is in the same condition as when you put it under contract and that all repairs have been completed. The Seller is expected to wipe down surfaces and vacuum, but you will likely need to clean more before you move in. If you want the home or the carpets to be professionally cleaned you should include this in the original offer.

Transaction Broker - In the unlikely event you purchase one of my listings, I become a transaction broker as stated in the Exclusive Right To Buy Contract. In a nutshell, I cannot disclose to you any secrets about the Seller and why they are selling. And viceversa, I cannot disclose to the Seller why you are buying or any of your secrets.

BUYER EXPECTATIONS My Fee - My fee is 3%. You have hired me to represent you in the purchase of a home and most of the time the Seller will pay our commission.

Availability – My regular business hours are Monday - Friday from 8AM to 6PM. I aim to answer every time you call, but if I can’t answer a call, please leave a message and I will call you back as quickly as I can. My evenings and weekends are filled with family obligations, volunteering and many social functions. I do my best to accommodate requests outside of regular business hours, but please know that those appointments are on a limited basis. Always feel free to leave a message or text but if it is after hours will respond first thing the next business day. Urgent matters require my full attention no matter what day or time it is. It is critical to note that when I am working on offers or in the midst of negotiations, this is considered urgent and I will always make time for you.

MY VALUE PROPOSITION Why I Am Worth What I Charge Orion – I represented the seller. We received an offer which the seller was happy with the terms including the price. The buyers agent texted me for an update and I let him know I had presented the offer and that the sellers were going to sleep on it. He responded to let me know that the buyers offer was negotiable. I gave this info to my seller and they countered the offer $20,000 higher and we got under contract. This put an extra $20,000 in the sellers pocket.

Brookside – Foundation company hired by our seller gave a bid for $69,715.80. We had the Seller get a 2nd opinion with a Structural Engineer we have worked with in the past and he provided a bid of $24,000 saving our client more than $45,000. Home sold for $265,000 (16.9% savings).

Alicia Pt – We found out this HOA no longer maintains the decks & entry decks into each unit and the inspection showed this entry deck was in poor condition. We negotiated that the seller pay for a new entry deck and it needed to be done before closing. The contractor doing the work was very slow, so I spent 2 full days working with him to rebuild the entry deck so we could close on time. Additionally, the entry deck was not identical to what was there previously and the HOA called it out after closing telling the new owner they may need to tear it down and replace it. I joined the buyer at the next HOA meeting and helped them to realize the new entry deck is vastly superior to all others and should be a model for future replacements. They agreed. My efforts made sure the buyer closed on time and did not have to pay $20,000 to replace the entry deck.

Mesa Condo 1– My listing, the home sold for $295,000. Buyer wanted the electrical panel replaced for $8000, Our electrician certified the panel for $100 and stated the panel was safe and in proper working condition. Saving our client $7900 (2.6% savings).

Kittridge – Determined listing was worth $850k-$875k, seller said they would be happy getting $850,000. Because there was no other comparable active home on the market in the neighborhood, we decided to shoot for the stars and list at $900,000 and seller was willing to include the very nice kitchen refrigerator which I advised they not offer initially. We closed at $925,000.

The buyer submitted an Inspection Objection with 4 items, all of which were minimal things and at most would cost the seller $2000. Seller was very emotional over the requests and I needed to meet with them in person to help them realize that we should offer to them a concession of $2000 and the refrigerator. Buyer agreed to concession in lieu of repairs. Saved the transaction from the seller’s emotions and netted the seller almost $75,000 more then they hoped for (8.1% savings).

MY VALUE PROPOSITION (Continued) Htoo’s – Helped them realize their American Dream of owning a home. It took 3-years, but they got the home of their dreams.

Abeyta – Home sold for $295,000, listed at $300,000. Our buyer completed the home inspection and found about $5000 of needed repairs (healthy, safety, major expense). We negotiated a deal where the seller completed the repairs AND gave our buyer the $5000 concession. This saved our buyer at least $10,000 (3.3% savings).

Acapulco – Our listing, the sellers passed away and none of their heirs were interested in anything or with assisting to prepare the home for sale. We acted as a GC to get the home cleared out and cleaned. Saving the estate more than $10,000. It sold for $185,500 (saved 5.3%).

Winfield – Buyer’s inspection said the furnace was shot and asked for a $9000 concession to pay for a new furnace. I had the seller contact one of my reputable HVAC contractors who came out, cleaned & certified the furnace in writing. To appease the buyer we offered to pay for a 1-year home warranty at a cost of $500. Saving the seller $8500, home sold for $800,000 (saved seller 1%). The seller locked themselves out of the house so I went by to use the key from the lockbox. Unfortunately, the deadbolt was also locked so we could not get in. I helped the seller try every door lock and we were able to access the basement mechanical room through a door she had never used. Unfortunately, the mechanical room door into the basement was locked as well. I helped pop the hinges off so we could get in.

Black Bear – Our buyer was out of town and I coordinated virtual showings, helped them get under contract, complete all due diligence and get closed with never being in Colorado until after Closing. Additionally, I arranged for their contractors to access the property and complete repairs/renovations before they arrived to move-in.

Heatherdowns – The owners passed away and donated their home and its contents to a local nonprofit. We acted as the GC to remove all of the contents (donate, sell, junk) and prepared the home for sale. This saved the non-profit in excess of $10,000, We listed it at the market value $575,000, but with our marketing exposure we ended up getting it sold for $612,500. We saved the seller $47,500 (7.7% savings).

Mesa Condo 2 – Seller got very angry and emotional over the buyer’s inspection objection and the fact the inspector left paint chips on the ground near the electrical panel. I met with him in person and counseled him through a rational response, rather than his initial reaction of telling them to take a hike. They asked for window concession of $3000 and a new electrical panel which would cost between $5000-$8000. Our electrician came out and repaired & certified the current panel and he offered them $500 for window repairs. This saved the seller more than $10,000 and kept the deal alive (3.1% savings). Additionally, the seller was out of town for 2 weeks so I went by to make sure the home was secure and watered plants.

48 HOUR EASY EXIT AGREEMENT

My Guarantee to you: If at any point during the listing period, you become unhappy with my efforts, you can notify me of the situation and within 48 hours it will be corrected or I will agree to terminate the Buyer Agency with you.

__________________________ Eddie Hurt