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What to Expect After Making An Offer On Lowry Real Estate


July 19, 2017

So, you’ve been pre-approved for a mortgage, found the home of your dreams, and submitted an offer to the seller.

Now what?


There are three outcomes that you can expect after submitting an offer on a home that is for sale on the Lowry real estate market.

Here’s what you should know:

Outcome #1: Offer is Rejected

The seller could reject your offer if he believes that it is too low and not worth countering.

Sellers can also reject your offer if they don’t agree with one of the terms of the deal.

For example, the seller may only want cash offers, so if you are getting financing, he may not be interested in making a deal.

In a competitive market, a seller could reject your offer simply because he receives a better one from another buyer.

Outcome #2: Offer is Countered

Most of the time, if a seller is not satisfied with your initial offer, he will submit a counter offer instead of just rejecting it.

Although most counter offers include an increase in price, the seller could also counter other terms of the deal.

For instance, the seller may be willing to accept the sales price from your initial offer, but he may want to ask you to move up the closing date. A counter offer signals that the seller is willing to negotiate as long as you are willing to compromise.

If you receive a counter offer, you can either accept it or submit another counter offer and go back and forth with the seller until you both agree on a price.

You will need to work with a real estate agent to determine what you should do after receiving a counter offer from the seller.

Learn all about a real estate counter offer.

Outcome #3: Offer is Accepted

And the best outcome is saved for last...

There is the possibility that the seller will accept the first offer that you submit!

Once you hear that your offer has been accepted, you will need to work with your real estate agent to determine what needs to be done before closing.

Most buyers will need to finalize their financing agreement, secure homeowners’ insurance, and schedule a home inspection.

Buyers will also need to do a walk-through of the home before the closing date to ensure the property is still in good condition.

You will also need to prepare to pack your belongings, transfer your utilities, and move out of your current home.

It’s important to note that a deal is not finalized until the closing date.

Did you know…

Before closing, the deal can fall through at any time if one party gets cold feet. The deal can also fall apart if you aren’t able to secure financing or if unexpected issues arise during the home inspection.

It’s best to work with a real estate agent to avoid as many of these problems as possible, especially in a seller's market.

Are you ready to buy a home in Lowry? Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you with your home buying or selling journey.
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Things to Consider About the Exterior of An Observatory Park Home


July 12, 2017

Buyers often spend a lot of time thinking about how they want the inside of their new home to look,

but...

many forget to consider the outside of the home - which is key to loving a new home.

Before you purchase a new home in Observatory Park, learn about some of the exterior features you should pay close attention to:

Trees

The first thing you should look at when pulling up to a home is the condition of the trees in the yard.
 
  • Do any of the trees look as if they are tilting to one side?
  • Are there any trees with a lot of dead branches?

If you answered yes to either one of these questions, it’s possible that the trees will need to be removed before or soon after you move in.

You should also note whether there are trees growing close to the foundation of the home.

The roots of these trees can eventually damage the foundation, which could lead to costly repairs, so this is something you should be prepared for.

Roofing

Roofs play an important role, so don’t ignore this part of the home when you start to look at houses on the market.

Be sure to find out what type of roofing material is used on the home and when it was installed.

Each type of roofing material has a different lifespan.

For example: asphalt shingles typically last between 15 and 25 years while metal roofs can last over 50 years.

Getting this information will help you determine if the roof will need to be replaced in the near future. If it does need to be replaced soon, you may want to offer less on the house since this is a significant expense. Learn about the average life of roofing.

Pools

If you’ve never had a pool before, there are a few questions you should ask before making an offer on a home with a swimming pool.
 
  1. Ask about the monthly maintenance costs of the pool. How much is the current owner paying to keep the pool clean and the chemicals balanced?
  2. Find out if there are any safety regulations that you will need to comply with if you decide to buy the home. For instance, the city or county may require you to install a safety fence around the perimeter of the pool.

Foundation

A home inspector will be able to identify serious issues with the foundation, but it doesn’t help to take a peek for yourself. If you spot any cracks in the foundation, this is a sign that the home has structural damage that will need to be repaired as soon as possible.

If you are still interested in the home, you will need to have your real estate agent work with the seller to see if he is willing to make the repairs before closing.

Are you ready to buy a home in Observatory Park? Contact Elevation Realty. Our team of experienced real estate experts can help you in your home buying and selling journey.
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What You Should Know As You Wait to Close on Denver Real Estate


July 5, 2017

Have you made an offer on a home on the Denver real estate market? If the seller accepts your offer, a closing date will be set that will likely be weeks or months away. As you wait for this closing date, there are a few things that you should keep in mind.
 

You will need to continue to work with your lender.

Many homeowners believe that their work is done after they are pre-approved for the mortgage and their offer is accepted by the seller, but this is not the case. It’s very likely that you will be in contact with your lender up until the closing date. The lender may get in touch with you at various times to verify important income or debt information. It’s recommended that you don’t do anything during this time period that will affect your credit score or change your debt to income ratio significantly. For example, applying for a new credit card could lower your credit score and cause your financing to fall through before closing.
 

Don’t forget to do the final walk-through.

A lot can happen between the time that you last saw the house and the closing date, which is why it’s important that you do a final walk-through of the home 24 hours before closing. Look for any signs of damage that weren’t in the home before so you can immediately report them to the seller. If the seller was supposed to leave certain appliances in the home as part of the deal, make sure everything is accounted for and if it’s not, notify the seller right away. Use Trulia’s final walk-through checklist to make sure you don’t miss anything during this crucial step of the closing process.
 

Begin looking for homeowners insurance.

The vast majority of lenders will require proof of homeowners insurance before officially transferring the money to you. Once a closing date has been set, begin researching homeowners insurance policies and requesting quotes so you can find the best deal. The earlier you get started on this, the better so you have more time to compare prices and policies. The lender will most likely contact the insurance company to verify your coverage, so make sure you check this item off of your list before closing.
 

Don’t change jobs.

If it’s possible, do not change jobs until you have closed on the house. The lender may view this as a sign that you are not reliable or that you are having trouble staying employed, which means you could be a high-risk borrower. If you have to change jobs, the lender will need you to send updated information regarding your employer and income. This could delay your closing date depending on how far ahead of time you let the lender know about the change in employment.  
 
Are you ready to buy a home in Denver? Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey
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How to Prepare Your Observatory Park Home For An Open House


June 28, 2017

An open house is typically a one-day event where potential buyers and their agents in Observatory Park are welcome to stop by your home to see the inside. This is a great marketing tactic that is used to drum up interest in your home. But to ensure that it’s successful, there are a few things you should do to prepare your home. Follow these tips to get your home ready for an open house:

Buy new things for the bathroom.

You don’t have to completely remodel your bathroom in order to make it look brand new. Instead, just invest in a few key pieces that will make the entire space look fresher. Buy new decorative towels and bath mats to put on display for the open house. Take a close look at the condition of your shower curtain to determine if this should be replaced, too. None of these items are expensive, so you won’t have to break the bank in order to make your bathrooms look nicer.

Set the table.

Dust off the fine china that you have in storage and set your table as if you are about to host an elegant dinner party. Don’t forget to finish the table off with a beautiful floral centerpiece that complements the room’s décor. Doing this allows potential buyers to imagine what it would be like to sit down for dinner if they were to buy your home.

Get away for the afternoon.

You hired your real estate agent for a reason—to sell your home. Let him do his job by getting out of his way on the day of the open house. Some buyers feel uncomfortable touring a home and talking about it with their agents if the seller is lingering around to hear what they have to say. It’s best to make plans for the afternoon and wait to hear about how the day went when you return home and meet with your agent.

Hire a maid.

It’s strongly recommended that you hire a cleaning service to come to your home the day before the open house. Hiring a cleaning company will ensure that you make a strong first impression on the buyers that visit your home the next day.

Get rid of personal items.

Help buyers visualize what it will be like when they move into your home by removing all of your personal items. For example, take down the family photos and kids’ drawings on the refrigerator. These may be valuable to you, but these items make it difficult for buyers to think of themselves living in the home. Plus, these items tend to make the home look more cluttered, which is definitely a turnoff for most buyers. Learn how to declutter before an open house.
 
Are you ready to list your home on the real estate market in Observatory Park? Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.
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Find Your Gardening Bliss in Your Home in Lowry Real Estate


June 21, 2017

There are several things potential homeowners want to consider when they are looking for the perfect home. If you are looking to find the perfect home in Colorado, consider what you think is important to your bliss. If gardening is on the list, you may be looking for a property with a fence, lots of space to plant your own garden, or an already existing garden.
 
There are several different types of gardens, and you need to picture which one you would like most when looking at homes.

Vegetable Gardens

Growing your own food is a great way to save money, and it provides you with the comfort of knowing what exactly has been done to your produce. Different vegetables require different types of care. For instance, potatoes are a staple of most people’s diets, and they grow underground, so you need flat space with soil soft enough to be able to plant the potatoes. If you want tomatoes, you need a pot or a hanging planter that is spacious enough for the tomatoes to come to fruition. Pumpkins require a lot of room, as do squashes. Carrots also grow underground, but you’ll need to keep them separate from the potatoes. Knowing which vegetables you would like to plant will help you pick the house with the best type of land for your garden.

Herb Gardens

Herb gardens are a little easier to grow because, for the most part, all of your herbs will be in pots. Still, you need an elevated space to place the pots. Having a fence can be ideal in this situation, because you can place plant boxes along the fence that will keep your herbs off the ground and make sure they get plenty of sun. You can also invest in hanging planters, or place them on a brick or rock wall that runs through your yard. Some herbs require more space than others. For example, mint is a vine, so it will choke out other herbs, and needs to be elevated to prevent it from touching the ground - if mint gets into the ground, your entire yard will be covered in mint. Plants like basil also tend to disappear when placed too close to the ground, because snails are particularly fond of devouring these plants. When choosing the best home for your garden in Colorado, try to envision what you can do with the space to grow the herbs you want to grow the most.

Flower Gardens

Flowers are tricky things to grow. Different flowers need different types of soil and weather conditions. Before picking a home, figure out which flowers can be grown in the ground, and which may need to be elevated. Your soil type and the amount of sunlight and rainfall are all important factors when planting flowers. You can place boxes along your fence, as mentioned with the herbs, keep them in pots at ground level, or grow them directly in the ground. Flower gardens can be absolutely beautiful, or ridiculously difficult to maintain, depending on all the environmental factors that each flower needs. If you are looking for a flower and plant garden, look for a yard with a lot of space for both flowers grown in the ground and flowers that need to be grown in pots.
 
Tip: To figure out which soil conditions you need for your dream garden, check out this map that describes the zones plants will thrive in.
 
There are other factors that you may want to consider when looking at your property that may be great additions to your dream garden. For example, you may want a fountain in the middle of your garden. To have a good one, you need a solid foundation so it does not sink into the ground, as well as easy access to a water line. If you would like a fish pond, you need a large enough location with good conditions for the fish to thrive in. Should you desire a little “island” in the middle of your yard with a small bridge going through it, you will need a large amount of space, as well as the right conditions for the larger plants to grow in.
 
At Elevation Realty, we care about your desires for your home. Tell us about your dream home, and we'll make sure that we connect you to the perfect neighborhood for your goals. We will show you the properties that will best fit your needs - no one knows the area better than we do. To get started with us, search for homes by contacting the best realtor for your ideal area. Give us a call at (303) 579-3566. We look forward to hearing from you!
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