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Finding the Right Home Inspector Before Closing on Goldsmith Real Estate


September 12, 2018

Buying a home is an exciting time for most people, and it’s easy to get so swept up in the process that you might want to overlook some of the more mundane details just to get to the closing. But items such as the home inspection are crucial to the process, so it’s important that you find the right home inspector before you close on Denver or Goldsmith real estate.
A home inspection is important because it offers buyers a layer of protection. For example, if you are purchasing a home that looks good as you walk through, this doesn’t tell you how the HVAC system runs or if the plumbing is in good shape or if the roof is sound. An inspection goes beyond what your inexperienced eye can see and makes sure the systems of the house are in good working order. If you make an offer on a house only to learn that it needs a new roof or has mold in the basement, this can provide you with an opportunity to either back out of the sales contract or negotiate with the seller to either pay for the repair or lower the purchase price of the home.
How can you ensure you find a reputable home inspector? Gather the following information before you make a decision to hire someone.

Get Information on the Inspector’s Prior Experience

The more experience the inspector has, the more likely he or she is to unearth problems in the home that might go unnoticed by others.

Make Sure You Can Attend the Inspection

You should be present at the home inspection, and any home inspector who does not want you there should raise a red flag.

Ask About the Inspection Report

You want to make sure you get a detailed report on all the areas of the home. You should ask to see a copy of a past inspection report. It’s also a good idea to find out if the inspector has discovered major problems with houses he or she has inspected in the past.
Find out more about the home inspection report from the American Society of Home Inspectors’ article Find Your Answers to Home Inspection Cost and Home Inspection Service Questions.

Find Out an Estimated Cost for the Inspection Ahead of Time

If you like what the inspector has to say about other areas of the inspection, then it’s time to find out about fees. Although you shouldn’t base your decision on cost alone, sometimes you get what you pay for. Fees should weigh in on your decision, but they shouldn’t be the ultimate decider.

If you’re thinking about purchasing Goldsmith real estate, Elevation Realty can help with everything from the home search to the inspection to the closing. We can tell you more about the Goldsmith market and help you whether you are looking for a starter home or if you want to find your forever home. Contact us online or give us a call at 303-579-3566 to begin your search.   
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Buying University Hills Real Estate With Less-Than-Perfect Credit


September 5. 2018

Buying a home. For many, it’s the equivalent of the American dream, but it can be out of reach for some people, particularly those who have credit scores that are less than ideal. But the good news is that buying University Hills real estate is still possible. Although the better your credit, the better your loan terms (such as a more favorable interest rate), there are still steps you can take to become a homeowner—and with today’s appreciation, it might be well worth it.
Find Out What Your Credit Score Is
There are a number of ways to find out what your credit score is. Referred to as a FICO score, this number reflects the amount of debt you have, the amount of credit that is available to you, whether you have made payments on time, and so forth. Knowing your score will help you figure out whether or not you will qualify for the best loan terms or not.
You should also check your credit report to find out whether or not there are errors on it that are lowering your credit score. Get those corrected as soon as possible.
Here are some tips from the experts at My FICO on bumping up that credit score if there is room for improvement: How to Repair My Credit and Improve My FICO® Scores.
Mortgages Specifically Designed for Those With Poor Credit
The Federal Housing Administration (FHA) offers loans you can get with a lower down payment and a lower FICO score. FHA loans are one of the most popular types of loans for first-time homebuyers as well. But there are some other costs involved.
Since you can get an FHA loan without the standard 20 percent down payment, you will have to carry mortgage insurance on the loan to protect the lender in case you default. These are usually paid in the form of monthly premiums that are tacked on to your mortgage, tax, and insurance payment each month.
You’ll have to carry this insurance until you have equity in the home, at which time you can refinance your mortgage to drop this extra payment.
In addition to FHA loans, there are other government programs available for first-time homebuyers and those with less-than-perfect credit.
Determine How Much House You Can Afford
Although some of this is simply a matter of budget—and what you can reasonably afford to pay each month for housing—there are other limits you should know about. The maximum loan values for FHA loans vary across the country, so you’ll need to speak with a lender.
If you’re thinking about purchasing University Hills real estate, Elevation Realty can help. If you are concerned that your credit score will hinder the process, set up a meeting with us and we can go over the numbers. Homeownership does not have to be out of reach. Contact the Elevation Realty team when you are ready to purchase your dream home or give us a call at 303-579-3566 to begin your search.   
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What You Should Know About Closing on Your Lowry Real Estate Purchase


August 8, 2018

You finally found your own little piece of Lowry real estate to purchase. Now it’s time to prepare for the final piece of the homebuying process—the closing. The closing refers to the process of transferring property from one owner to another. It includes several items, culminating in a meeting—usually at the title company or a bank—where you’ll sign all the paperwork that finalizes the deal.

Here are some of what you should know as you get ready for that final meeting.

Staying Organized

When you work with a real estate agent who is part of Elevation Realty, you can count on him or her to keep you organized during the process. Your agent will keep you apprised of your to-dos and when you need to do them. Here are some other ideas for staying on track while you wait for your final closing date: 6 Tips for Staying Organized During the Home-Buying Process.

Earnest Money

Within a few days of acceptance of their offer by a seller, a buyer will deliver earnest money to a title company, where it will be held during the transaction. This is also called a good faith deposit, and the amount is usually equal to 1 to 3 percent of the purchase price of the home. This money will be applied to the sale during the closing.

It is important for buyers to realize that this money is generally not refundable, so if they decide to back out of the deal for any reason that is not listed as a contingency, they will not get this money back.

Contingencies

This brings us to what exactly a contingency is—parts of the deal that must be fulfilled before the closing can happen. For example, many times a deal is contingent on whether the home passes an inspection or it is contingent on whether the buyer can secure financing.
Inspection

A home inspection is usually ordered by buyers so any major issues with the house can be identified before closing. If something is found, such as a problem with the roof or HVAC system, the buyer might negotiate a lower purchase price or ask that the seller pay for repairs before the deal closes.

Appraisal

Most homebuyers don’t have the cash to purchase a home outright, so they will need to obtain a mortgage. If the value of the home—the appraisal amount—is less than the amount of money a buyer needs to borrow to buy the home, the buyer can back out of the deal or a negotiate a lower purchase price.

Are you looking for a new home? Take a look at our current listings, both in the Lowry area and others across metro Denver. We can also answer your questions about the closing process.

If you’re looking for Lowry real estate, Elevation Realty can help. The Lowry area is great for single people as well as families with its variety of different types of homes, most of which are highly energy efficient. Lowry is also convenient: It’s a quick drive from the area to downtown Denver, and there are myriad bike trails connecting this community to others in the metro area. Contact the Elevation Realty team when you are ready to find your dream home or give us a call at 303-579-3566 to begin your search.
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The Importance of a Home Inspection When Purchasing Lowry Denver Real Estate


August 1, 2018

When it comes to buying Lowry real estate, there are plenty of items on the to-do list. It might seem like adding a home inspection is just a hassle that seems easy to skip over. But the truth is that a home inspection is crucial to purchasing a new home in Lowry or anywhere in the Denver metro area, and it’s not something that should be eliminated from the process. Having an inspection done only costs a couple hundred dollars, but it can save homebuyers a lot of money down the road if there are any issues with the house.

What Is a Home Inspection?

A home inspection is an examination of the condition of a home that is usually performed by a certified home inspector. It is usually done when a purchase contract has been put on a home and the potential buyers of the home want to make sure they are making a sound investment. It is often a contingency item in sales contract that enables buyers to get out of the deal should a problem with the home come to light.

Why Is a Home Inspection Needed?

When homebuyers look at a home, they are usually seeing it in its best light. Because home-buying can be an emotional process, potential buyers of a home night see what they want to see in a home rather than what is actually there. An inspection digs below the surface of a home to ensure all the systems of a home are in good shape.
A home inspector will take a look at all the elements of the house, including the electrical wiring, the plumbing, the flooring, the insulation, and the foundation. He or she will check that everything is in working order and up to the proper code.
After the inspection, a full report will detail any problems that might have come up. (Take a look at a sample inspection report here.) For example, if it is determined that a new roof is needed because the current roof is too old or has leaks, the buyer might decide to back out of the sales contract altogether and not purchase the home. Another option might be to take the inspection report to the sellers and negotiate a new purchase price for the home based on how much the new roof will cost.
The home inspection is essentially an insurance policy for the buyer that is well worth the relatively low amount of money it costs.
If you have questions about any part of the homebuying process, you can count on Elevation Realty to provide solid advice on everything from home inspections to the closing process. Our real estate experts can advise you on all aspects of the real estate process. We would be glad to handle any of your real estate needs, provide information regarding home inspections, and work hard to provide you with exceptional service to help you find your dream home. Contact the Elevation Realty team when you are ready to buy or sell or give us a call at 303-579-3566.
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What First-Time Homebuyers Should Know About Buying Goldsmith Real Estate


July 25, 2018

The decision to buy your first home can be a scary one. It’s a good idea to do your research when you are planning to buy Goldsmith real estate—or homes in any other Denver metro area. Most people spend time thinking about mortgage qualifications, location, and other items, but here are some items many people might not consider.
The home professionals at HGTV have also put together a helpful checklist for first-time homebuyers.

Plan to Own the Home for Several Years

Although Denver home values are appreciating quickly these days, it’s always best to stay in a house for several years when you buy. Owning a home should usually be considered a long-term rather than a short-term investment. The closing costs and the moving expenses should be considered. And even though things do look bright now, the crash of 2008 should tell us that you can never predict what will happen.

Buy a Home for the Right Reasons

You should purchase a home because it makes sense for your own personal financial reasons—not because owning a home in the suburbs is going to somehow change your life. You should also not purchase a home for investment purposes because it might not necessarily be the best investment. Purchasing a home should not be done for emotional reasons; it should be done for financial ones.

Buy Only as Much House as You Need

There used to be a trend toward buying starter homes with the plan to move up to a bigger house as family needs changed. But some people buy homes today based on future needs. Be realistic about your what you need today—and for the immediate future. For example, if you are married and plan to have a family, a two-bedroom, one-bath condo is probably not a good idea. But you may not need that five-bedroom, four-bath home either. You’ll have to pay for maintenance, taxes, and energy on that large home—and chances are, much of the home will be wasted space for many years to come.

Negotiate With the Seller as Much as Possible

You’ll probably use a real estate agent to purchase your first home, so find someone who will go to bat for you. If you aren’t a good negotiator on your own, find someone who is. Negotiate the purchase price, the cost of anything that needs fixing based on the inspection, and so on. Everything is negotiable, and you want to make sure the transaction is as much to your advantage as possible. (This is where emotions—or lack thereof—can come into play.)

Walk Away From the Home If It Makes Sense

Homebuying can be an emotional decision, but you should resist the urge to base your purchasing decision on your heart rather than your head. View the process as nothing more than a financial transaction until you sign on the dotted line and are handed the keys. Then, and only then, should you consider your newly purchased house a home.
We are experienced in working with first-time homebuyers. If you’re thinking about purchasing Goldsmith real estate, Elevation Realty can help. We can tell you more about the Goldsmith market and help you whether you are looking for a starter home or if you want to find your forever home. Contact us online or give us a call at 303-579-3566 to begin your search.   
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