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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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Preparing Your Home in the University Hills Real Estate Market for a Quick Sale


July 18, 2018

When you decide to sell your home, you want it sold as quickly as possible. If your home is in the University Hills real estate market, you have the added advantage of being located in a desirable area. But you want to make the most money possible with the sale, so it is to your advantage to take a bit of extra time and a small amount of money to spruce up your home to get top dollar.
Here are some ways you can do that.
Here are some additional tricks of the trade from the folks at HGTV: 10 Best-Kept Secrets for Selling Your Home.

Planning

Pick a day in the future that you will list your home—and work backward from that date so you get everything done. You are anxious to list, but be reasonable to give yourself enough time to get everything done. to list in the future and work backward from it.

Get Outside Opinions

Have a real estate agent go through your home and make a list of suggestions on work that needs to be done. You are so familiar with your home, you probably don’t even notice the chipped trim around the doorway or other imperfections that will be spotted by potential buyers.

Declutter

Get rid of the majority of your personal items. This is no longer your home, but it is a business transaction for which you want to get top dollar. Without your personal belongings all over the home, potential buyers can envision their own things in the house.

Learn About Home Staging

Staging a home properly is an important element in selling for top dollar. Showcase each of the rooms to its best advantage. For instance, an oversized California king bed in a small bedroom will make it look even smaller. A queen-sized bed in the same space, however, can make all the difference.

Paint

Nothing adds more value to your home than a coat or two of fresh paint on the walls. It makes everything feel fresh and clean. Stick to neutral colors to appeal to as many buyers as possible.

Spruce Up the Outdoors

Nothing makes a better first impression than a lovely front yard. Curb appeal can sometimes either make or break a sale. If the outside of your home isn’t appealing, you might not even get potential buyers through the door. Spend some time and money to add some color and greenery, clean up debris, and so on. People do judge a book by its cover, so keep that in mind.

Getting your home ready for a quick sale might seem overwhelming because there is so much to do. This is just one of the many reasons it’s so crucial to have an experienced real estate agent by your side. Don’t leave anything to chance; make sure you are working with someone who has the experience you need to have success selling your home in University Hills. Let Elevation Realty be your guide in managing those tasks. Contact us today.
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Do-It-Yourself Projects You Should Take Care of Before Listing University Park Real Estate


July 11, 2018

With summer in full swing, the home buying and selling season is here—and will likely continue to be strong until school starts back up in the fall and the market tends to slow down. If you are a University Park real estate homeowner, you might have been thinking about putting up your home for sale. As you look around your home with a critical eye, you might be wondering if there are some do-it-yourself projects that need to be done before you list your home.
Real estate professionals have some tips as far as what you should and shouldn’t do before you get your home ready to sell.

Indoor Painting

Painting the interior of your home is almost always on the “should” list. There is nothing like a fresh coat of neutral-colored paint to enhance your entire home and make it appealing to buyers. This is especially true if you have made some bold or unusual color choices around your home.
Be sure to do a good job with the painting. It will be a turnoff to prospective buyers if they come into your home and see a slopping paint job. The DIY Network offers these tips for interior painting.

Window Treatments

Blinds and curtains can look dull and discolored as they age, so replacing them with new window treatments will spruce up the look of your home. Again, you’ll want to keep colors neutral to appeal to the biggest number of homebuyers.

Deep Cleaning

Although the term “spring cleaning” might bring to mind housewives from the 1950s, there is a benefit to this type of deep cleaning that is done once a year. When was the last time your home had a complete cleaning from top to bottom? This includes items such as getting rid of grease that has built up in the kitchen and dusting off items that are up high and not easily accessible. Potential buyers will appreciate a sparkling clean home.
Floors and carpets. Before you list your home, you should also have flooring and carpets cleaned. You can rent machines to do it yourself—or you can hire a service to take care of it for you.

Curb Appeal

Look at the outside of your home from the sidewalk with a critical eye. What can you do to jazz it up, improving its curb appeal? Adding fresh flowers, pulling weeds, and trimming hedges can dramatically improve a home’s curb appeal.
You can count on Elevation Realty to provide solid advice regarding your University Park real estate listing. Our real estate experts can advise you on which home improvement projects will increase the value of your property and can help you find the most qualified experts to assist you throughout the projects. We would be glad to handle any of your real estate needs, provide information regarding home improvement endeavors, and work hard to provide you with exceptional service and to maximize the value of your home. Contact the Elevation Realty team when you are ready to sell and want to find your dream home or give us a call at 303-579-3566 to begin your search.  
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