Denver Real Estate Search

The Buying Process

We prefer smooth and worry-free to overwhelming and chaotic when it comes to the buying process. The more prepared you are at the outset, the more successful the buying process will be. We’ve prepared the following tips to assist you as you begin the journey.

If you have additional questions regarding “Buyer Tips” and would like more information, please feel free to contact us at Empire Luxury Real Estate.

Buyer Tips

Get pre-approved/ Showing Proof of Funds: As a pre-approved buyer you have better leverage when it c:omes to negotiating with the seller. The pre-approval process is simple and shows sellers that you are a serious buyer. You can obtain this through your mortgage loan officer or we can provide you a names of local experts that can assist you.  We do highly recommend a local expert as they are familiar with Colorado Real Estate and the specifics of our marketplace.  Normally Proof of Funds or a  Pre-Approval letter is required before a showing is  approved in the Luxury Market. 

Prepare, list and sell your current home: This is specific to you and your current situation. What type of a market are you buying your new home in and what type of a market are you selling your existing home?   Will this be a second home, a legacy home, are you adding to your real estate portfolio, looking for a 1031 exchange? Talk with your Empire Luxury Specialist to help you make an informed decision on what is right for you.  

Research the market: Once you know where you’re going to buy, find out what homes are selling for and how long they typically stay on the market in that area. Don’t be afraid to look at homes that aren’t in your immediate price range at first – knowing what’s selling will give you a better big-picture view of the market. Having an Empire Luxury Broker who knows the market will give you a serious advantage when it comes time to make an offer.

Be prepared to submit an offer: The purchase contract should be kept simple and without any unnecessary conditions, especially repairs. A seller will be more interested in an offer that is not going to be slowed down or delayed by things that do not severely affect the value of the home.  Again this depends on you, competitive offers can be frustrating and little or no contingencies help your offer gain positive attention by the seller.

Find an agent you trust:  By now you know this, buying a home can be complicated. Having an experienced Empire Luxury Specialist who can keep your best interests in mind will have a significant impact when you’re buying a home and maximizing your investment.

NEEDS vs WANTS

Choosing the right home, the perfect neighborhood, the ideal floor plan – it can become overwhelming, but it doesn’t have to be. Getting your thoughts down on paper may be a constructive way to help channel your ideas. Think about the most important factors you’re considering and list them in one of two categories: needs and wants. If you are a couple each of you should do this individually.

Creating a list of “needs” and narrowing down the “wants” will help you prioritize the features as you consider and view potential homes. Keep in mind that you may have to compromise on the “want” items to stay within your budget. Below is an example of a typical “needs vs. wants” list. 

Examples of Needs:

  • Good Location with 1 hour access to the Airport
  • Features in Good Condition
  • Top of the Line Appliances Included
  • Designer Light Fixtures in all Rooms
  • Spacious Family Room off of the Kitchen
  • Large Master Suite with his and her walk in closets and luxury spa  5 piece bath ensuite
  • Elevator to all levels
  • 3+ Car Garage
  • Professionally  Landscaped yard on 1+ acres
  • Examples of Wants
  • Private Pool with Hot tub and Pool house
  • Hardwood Floors, Tile, Granite
  • Stainless Steel Appliances
  • Smart home upgrades
  • Security system
  • Master Bedroom Fireplace
  • Wine  Cellar
  • Theater Room
  • Au Pair Quarters
  • Mountain Views
  • 1+ acre property
  • Gated property

Our Value Proposition 

  1. Schedule Time to Meet for a Strategy Session
  2. Prepare Guide & Educational Presentation
  3. Meet and Discuss Goals and Non-Negotiables
  4. Explain Agency Relationships
  5. Discuss Different Types of Financing Options
  6. Help Find a Mortgage Lender
  7. Obtain Pre-Approval Letter from Lender
  8. Provide Resources to Research crime in neighborhoods, school ratings, etc.
  9. Provide Overview of Current Market Conditions
  10. Explain Company's Value
  11. Discuss Earnest Money Deposits
  12. Explain Home Inspection Process
  13. Educate About Local Neighborhoods
  14. Discuss Foreclosures & Short Sales
  15. Gather Needs & Wants of Next Home
  16. Explain School Districts Effect on Home Values
  17. Explain Recording Devices During Showings
  18. Learn All Goals & Make A Plan
  19. Create Internal File for Records
  20. Send Homes Within Their Criteria
  21. Start Showing Homes as Requested
  22. Schedule & Organize All Showings
  23. Gather Showing Instructions for Each Listing
  24. Send Showing Schedule
  25. Show Up Early and Prepare First Showing
  26. Look for Possible Repair Issues While Showing
  27. Gather Feedback After Each Showing
  28. Update When New Homes Hit the Market
  29. Share Knowledge & Insight About Home 
  30. Guide Through Emotional Journey 
  31. Listen & Learn at Each Showing
  32. Keep Records of All Showings
  33. Update Listing Agents with Feedback
  34. Discuss Homeowner's Associations
  35. Estimate Expected Utility Usage Costs
  36. Confirm Water Source and Status
  37. Discuss Transferable Warranties
  38. Explain Property Appraisal Process
  39. Discuss Multiple Offer Situations
  40. Create Practice Offer to Help Prepare
  41. Provide Updated Housing Market Data
  42. Inform Showing Activity Weekly
  43. Update on Any Price Drops
  44. Discuss MLS Data at Showings
  45. Find the Right Home
  46. Determine Property Inclusions & Exclusions
  47. Prepare Sales Contract When Ready
  48. Educate on Sales Contract Options
  49. Determine Need for Lead-Based Paint Disclosure
  50. Explain Home Warranty Options
  51. Update Pre-Approval Letter with Each New Offer
  52. Discuss Loan Objection Deadlines
  53. Choose a Closing Date
  54. Verify Listing Data Is Correct
  55. Review Comps to Determine Value
  56. Prepare & Submit Offer to Listing Agent
  57. Negotiate Offer with Listing Agent
  58. Execute A Sales Contract & Disclosures
  59. Once Under Contract, Send to Escrow Company
  60. Coordinate Earnest Money Wire Transfer
  61. Deliver Copies to Mortgage Lender
  62. Obtain Copy of Sellers Disclosures
  63. Deliver Copies of Contract/Addendum
  64. Obtain A Copy of HOA Bylaws
  65. Keep Track of Copies for Office File
  66. Coordinate Inspections
  67. Meet Home Inspector at The Property
  68. Review Home Inspection
  69. Negotiate Inspection Objections
  70. Get All Agreed Upon Repair Items in Writing
  71. Verify any Existing Lease Agreements
  72. Check in With Lender To Verify Loan Status
  73. Check on the Appraisal Date
  74. Negotiate Any Unsatisfactory Appraisals
  75. Coordinate Closing Times & Location
  76. Make Sure All Documents Are Fully Signed
  77. Verify Escrow Company Has Everything Needed
  78. Reminder to Schedule Utilities Transfer
  79. Make Sure All Parties Are Notified of Closing Time
  80. Solve Any Title Problems Before Closing
  81. Receive and Review Closing Documents
  82. Review Closing Figures
  83. Confirm Repairs Have Been Made by Sellers
  84. Perform Final Walk-Through
  85. Resolve Any Last-Minute Issues
  86. Get CDA Signed by Brokerage
  87. Attend Closing
  88. Provide Home Warranty Paperwork
  89. Facilitate Transfer of Keys and Accessories
  90. Close Out File. Solve Any Title Problems Before Closing