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Getting pre-approved through a mortgage lender. Why? You need to know how much you can borrow, in order to know the price point of a home you can afford.
Approximately $0. Traditionally, the Seller pays for my commission as the Buyer’s Agent, as well as their Listing Agent’s commission. All of my Buyer Agency agreements are structured such that you are never on the hook for paying me.
According to the National Association of Realtors, 87% of home purchasers used an agent. As a result, my primary focus is marketing directly to Realtors, as there is an 87% chance that the buyer of your property will have found your property via their agent. I do so through a variety of tactics, including but not limited to, social media, the MLS, attending Realtor only meetings, email blasts, etc.
If you’re paying with cash, the whole search and under contract to close period could take less than 2 weeks. If you’re getting a loan, the time varies! The pre-qualification and search period typically lasts 30-60 days, while the under contract to close period is typically 30 days or less. Altogether, the average is about 9-18 weeks (60-120 days). Given the situational differences, it is best to consult with your Realtor on your particular timing needs and goals sooner rather than later.
If you’re paying with cash, the whole search and under contract to close period could take less than 2 weeks. If you’re getting a loan, the time varies! The pre-qualification and search period typically lasts 30-60 days, while the under contract to close period is typically 30 days or less. Altogether, the average is about 9-18 weeks (60-120 days). Given the situational differences, it is best to consult with your Realtor on your particular timing needs and goals sooner rather than later.
A Buyer’s market is when a Real Estate market’s conditions favor Buyers.
Indicators of a Buyer’s market include:
More than 5 months of housing inventory (means supply is high
and demand is low!)
Decreasing or steady home values
High number of days on market
Interest rates increasing
ADU stands for Accessory Dwelling Unit. An accessory dwelling unit is a secondary living space on a lot zoned for a single-family residence. For example, an ADU may take the form of a finished basement with a private entrance, a mother-in-law suite above a garage, etc.
There are a few sweet spots throughout the year where conditions become slightly more favorable for Buyers. However, there are many factors that come into play for your unique situation, such as an existing lease terms, present and future interest rates, what’s going on in the market, etc. In short, it is largely based off of your circumstances and goals!
There are a few sweet spots throughout the year where conditions become slightly more favorable for Sellers. However, there are many factors that come into play for your unique situation, such as your timing needs, your moving situation, etc. In short, it is largely based off of your circumstances and goals! However, Denver is currently in a strong Sellers’ market, meaning that right NOW is a great time to sell.
Yes! Earnest money is similar to a deposit when renting a place. It is made in good faith to demonstrate to the seller that the buyer’s offer is legitimate. As a real estate agent, you should ask your client for the earnest money as a deposit in the form of a check or cash. The amount is usually 1-2% of the selling price and essentially takes the property off the market. The money also gives the buyer extra time to conduct a title search, get an inspection and property appraisal, and financing.
Yes! Home inspections are required if you plan on financing your home with an FHA or VA loan. For other mortgage programs, inspections are not required. However, home inspections are highly recommended because they can reveal defects in the home that are not easily detected. Home inspections bring peace of mind to one of the biggest investments of a lifetime.
The national average for down payments is 11%. But that figure includes first time and repeat buyers. Let’s take a closer look.
While the broad down payment average is 11%, first time homebuyers usually only put down 3 to 5% on a home. That’s because several first-time home buyer programs don’t require big down payments. A longtime favorite, the FHA loan, requires 3.5% down. What’s more, some programs allow down payment contributions from family members in the form of a gift.
First impressions are crucial, particularly in the real estate business. Potential buyers, whether physically visiting or taking a virtual tour, will be searching for reasons to negotiate a lower price. It’s essential for clients to ensure that the HVAC, plumbing, and electrical systems are all functioning correctly. Each room should appear tidy and clutter-free, with no visible damages.
Arranging a pre-sale home inspection is always a smart move if you want to get top dollar for your client’s property. Some homebuyers might be hesitant to purchase a house without a home inspection report, and many may even hire their own inspector. To avoid any unexpected surprises, it’s best to be prepared.
The time it takes to sell a home can vary – once it’s listed on the market, it might take anywhere between four to six weeks until it’s sold. However, in a hot market, a seller might see their house being sold within a week. On the other hand, if the market slows down or issues such as negotiation, limited exposure, or the condition of the house come into play, the property could remain unsold for months.
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