The path to homeownership begins well before you start looking at homes. Your top priority should be finding the right real estate agent — one who is highly qualified and makes you feel well-prepared for what's ahead. Our first meeting is
designed to get to know one another, to arm my team with the information necessary to serve your needs, and to provide you with a roadmap for success.
In our kick-off meeting, we will:
Our next step is to find a trusted local lender and get you prequalified for a home loan. By undergoing the pre-qualification process, we will:
In this stage, you'll be asked to provide detailed financial information, and it's never too soon to get organized. Lenders will typically ask for proof of employment your last two pay stubs, tax returns and W-2s (or 1009s) for the last two years, recent bank statements and a few additional documents.
The amount of money you intend to put towards a down payment combined with your income/target monthly mortgage will determine the size of the loan you can qualify for, and therefore, the home price you can afford. There are many types of loans out there, and your lender can discuss which will best fit your needs.
If you haven't already, now is also the time to ensure your credit report is in tip-top shape. Address any errors, pay down balances if possible (if advised by the lender), and do not make significant purchases with credit cards or loans during this period.
Now that the proper preparation is in place, we can start the fun part — finding the right home far you!
Using the information collected in steps 1 and 2, we will search for properties that fit your criteria and notify you the instant they become available. We'll review online listings, and when a home sparks your interest, we will set up a showing
to tour the house in person. In these tours, we will be able to offer our opinion on value and investment potential for the neighborhood, and gauge whether or not the property accomplishes your purchase goals. Sharing our ability to
envision a property's potential and spot diamonds in the rough is especially helpful to buyers at this stage.
It's not uncommon for us to kick off the house-hunting process with a "marathon day" in which we tour as many homes as possible so that you can become acclimated to what is currently on the morket. Moving forward, we will continue searching for and visiting homes until we find the one" and can make an offer.
Once we've found your dream home, we'll collaborate to write a winning offer. Our team begins the process by contacting the listing agent to develop a complete understanding of what the sellers are hoping for in the offer and to build rapport.
Once we have that information, we will develop your offer based on our review of comparable sales and market value of the home. This is where our negotiating skills begin! In addition to price, we will discuss what terms and contingencies you want to include in the contract so that your offer stands out to the sellers.
When submitting your offer, we'll have your lender call the listing agent to sing your praises as the strong potential loan recipient and buyer you are. Using these techniques is how the vast majority of our buyers win in their first multiple-offer situation, sometimes even if their offer isn't the highest! Sellers will occasionally want to respond with a counteroffer that can request anything from a higher closing price to quicker closing.
Congratulations, the seller hos accepted your offer!
You are now in contract to complete the sale and will be asked to deposit the agreed upon earnest money as
determined by the purchase price. See below for a timeline of events once you're in contract.
The next step is to schedule an inspection of the property. Typically, there will be a general inspection, radon test plus a sewer inspection. Inspections can reveal obstacles that you may want to address before you take possession of the home. Thanks to the contingencies we'll have placed in your offer, you'll have flexibility in how to resolve any repairs. For example, we can:
Mother priority in this stage is to continue the loan process. Your loan officer will walk you through every step of the final application and will inform you on best practices, such as promptly providing financial documents and tactics to keep your credit stable throughout the process.
The property will also be appraised during this stage. The purpose of a professional appraisal is to ensure that you (and the lender) are paying fair market value for the property.
Once your loon has been approved and we've satisfied all contingencies in the contract it's time to sign and make your purchase officio!!
You will be informed on the exact amount to deliver to the title company conducting the closing. The title company is responsible for transferring ownership to you, after making sure the home is free of any liens or any other issues.
An average closing takes about an hour, and after everything is signed, you get the keys to your new home! It's an especially thrilling moment, especially if this is your first home purchase.
Our team is always here to answer any home or neighborhood questions you might have. Just because you are now a homeowner doesn't mean you have lost us as a resource!
Whether you have questions about your home's value in the future or need information on great local contractors, interior designers, landscape architects, or even a great restaurant recommendation, we're here to provide whatever you need!
After you're in contract, things can move pretty quickly. While no two transactions are alike, here's a typical schedule from accepted offer to home sweet home.
Usually $3,000 to $20,000 depending on the price of the home.
Fully refundable if you back out within the allowed terms of the contract (.e., You don't Ike the inspection results, can't get a loan, or the property doesn't appraise adequately.)
Sewer, radon and general inspections.
In a competitive market or listing situation, some contracts will be written as an as-is offer with a right to cancel. That means you can back out if the inspection results are unsatisfactory, but you cannot require the seller to make repairs, in writing.
If we find a major issue with the house that would cause us to dissolve the contract, I will have a conversation with the listing agent to see if the seller will agree to make repairs before giving up on the transaction.
Pending your approval, we will write a report for the appraiser providing evidence to support your contract price, including comparable sales, competing offers and upgrades the seller has made to the home.
If the property doesn't appraise for at least the contract price, you will ask the seller to lower the price to the appraised value. If they refuse, you may dissolve the transaction and get your earnest money deposit back. Or, you may elect to pay the difference in the appraised value and contract price in cash at closing.
At this stage, you will deliver the remainder of your down payment and closing costs to the title company and get your keys!
Buying a home can be a stressful process that requires a bit of physical and emotional endurance. We'll be with you every step of the away to navigate challenges and recommend the necessary professional support. It helps to remember that the payoff for this arduous journey is the immense achievement and wealth-creating power of homeownership.
We're excited to help you on this journey!
“Lucy is amazing! She is super on top of everything, always responsive, and definitely knows how to negotiate! Her knowledge of Denver is extensive. She is an absolu...
"Kylie was great to work with from the very beginning. She listened to our specific needs, educated us on the process start to finish, and made us feel at ease from ...
“Lucy deserves 5 stars across all categories. She is smart, knowledgeable, experienced, and impressively attentive to details, including the small niggling kind that...
"Kylie made our experience a great one. She was super responsive throughout the entire process, and she went above and beyond to ensure our needs were met. We would ...
“My husband and I were recommended to Lucy by a close friend, for whom Lucy worked with on buying and selling their home in Denver. We came to quickly realize why Lu...
“My husband and I could not have asked for a better agent to work with in purchasing our first home! Lucy made the process easy. She responded to all inquiries quick...
“Lucy helped us to find our home in a matter of just a couple of weeks. She came up with the best plan of attack on the offer so that we would come out on top, and w...