A Big Leap

8% more homes changed hands in January versus January of last year. That is remarkable given that last year was a record setting year for the number of sales.

Buyers Show Up BIG In November

Election results and many other things in life may be unpredictable but the metro Denver residential real estate market is as reliable as a sunrise.

Funds for closing

Making Sure Funds Are Available for Closing

The cash required for closing needs to be in a readily accessible account. You’ll need to bring a cashier’s check to closing or have your money wired to the title company prior to closing. If you need to move money around or liquidate any assets to get all the cash in a readily accessible account, you need to do this far enough in advance so that any hold on the funds has been cleared.

Home Warranties

Home Warranties

The house you are buying might have a home warranty of some kind. If not, you can purchase a home warranty that may cover the unexpected failure of some of the components of the house.

Joint-Tenants or Tenants-In-Common

Holding Title

Joint-Tenants or Tenants-In-Common. How you hold title to a property has important legal consequences.

homeowner insurance

Arrange Your Home Owner’s Insurance

You need to arrange for home owner’s insurance on the property you are buying before the Property Insurance Objection Deadline date in the contract. Make sure you are doing an “apples-to-apples” comparison between programs offered by different agents.

Home inspector

Home Inspections

You need to arrange for inspections of the property you are buying as soon as possible.

Miscellaneous Matters

Miscellaneous Matters

Read on for miscellaneous buyer issues regarding owner financing and assumptions, property surveys and referrals to other professionals.

Disclosures Made By Sellers

Disclosures Made by Sellers

Buyers and sellers are obligated to make accurate disclosures / representations when buying and selling real estate. For buyers, this primarily entails dealing fairly and honestly with the seller and not misrepresenting the buyers ability to obtain a loan. Things are a little more complicated for sellers.

Radon Test Kit

Radon

Radon is a cause of lung cancer and may be present in a home. You can test for it during a home inspection and it can be eliminated easily if present.

Lead Based Paint Test

Lead-Based Paint Disclosures

Federal law requires sellers to provide a lead-based paint disclosure to the buyer if the seller’s house was “permitted” prior to January 1, 1978.

Repairs Before Closing

Make Required Repairs Before Closing

You may need to complete repairs to your property if you agreed to any such repairs in the contract or if anything has broken during the time you have been under contract. Make any needed repairs prior to closing.

The Condition of Your Property

The Condition of Your Property When You Turn It Over to the Buyer

Legally, you are obligated to turn your property over to the buyer in the same condition it was in on the day the offer was made. Additionally, some contracts require the property to be “broom clean”. Even if the contract does not require it, cleaning your house before turning it over to the buyer has some benefits for you.

Appraiser

Getting Ready for the Appraiser

An appraiser may be coming to your house in the near future. Most home sale contracts are contingent on the buyer or the buyer’s lender obtaining an appraisal on your property. Here are some things you’ll be interested to know about appraisers and the appraisal process.

Plan B

Plan B

You are under contract but not yet closed on the sale of your property. While fairly rare, the contract to sell your home could terminate without a closing as a result of contingencies granted to the buyer. When selling your primary residence, it is especially important to have a “Plan B” in case this happens.

Staying Safe While Selling Your House

Staying Safe While Selling Your House

Having your house on the market increases the risks of accidental damage, theft, bodily harm and lawsuits from people who get injured on your property. Be sure to take steps to protect yourself.

Market Cruising Along

The August report on performance of the residential real estate market for metro Denver is like hearing a traffic report on a day with an accident free rush hour.

Cruise

Market Sailing Along with Little Change

If ‘no news is good news”, then we’ve got good news on the metro Denver real estate market. It continues to cruise along at a steady pace with little change in one direction or the other.