Buying A Home I N TO D AY ’ S R E A L E S TAT E M A R K E T S t rategi es for suc c e ssf ully f ind ing the best n ew ho me f o r yo u
The Purchase Process Eval uate Yo ur Wa nt s a n d Need s Q ual if y wit h a Lender Ch oos e Yo ur Ag ent S earch for H o me s S el ec t the B est H o me fo r Yo u M ake an O ffe r a nd Neg ot iate Per for m Yo ur D ue Dilig en ce Cl os in g a nd Po ssessio n 2
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What Do You Want in Your New Home? B edrooms B ath ro o ms St yl e Size Location Pr ice R a ng e S ch ools O th er Fe ature s Let’s talk about your wants & needs 4
Getting Qualified with a Lender Learn about different loan options and costs You’ll be prepared to act Greatly improves your negotiating position Choosing a local expert has many benefits
This critical first step starts the process 5
Choosing Your Agent Local market knowledge Contact expertise Negotiation skills Network of contacts Communication style and connection with you
Your agent is important to your success
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Understanding “Agency” Choosing the right relationship matters Buyer’s agent, transaction broker and Seller’s agent Buyer’s Agents have a legal Fiduciary Duty to you
Do you want representation? 7
Benefits of Having A Buyer’s Agent Represents your best interests Keeps your information private Conveys all known information to you about the property and the seller Acts as your advocate
Buyer agency gives you an advantage 8
How Will You Be Taking Title to Your Home?
“Joint Tenants” or “Tenants In Common”? The right of survivorship or a divisible part of your estate? This important issue should be discussed with your tax and legal counsel
Your choice is part of any offer you make 9
There Are Different Kinds of Listings Agent list ing s in t he M LS On l in e re a l estate sites New const ruc t io n For sal e by owne r O f f -m ar k et pro per ties Each one has different benefits and risks 10
Searching For A Home Today
Search real estate sites Use our automated search system Research individual homes Create a short list of homes to see
Let’s start with the best ones first
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Choosing the Right One How well does it match your wants and needs? Analyzing the “Skin and Bones” of a property How does it compare to other homes?
Sometimes the perfect home just feels right
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Working with Homebuilders The on-site rep usually represents the builder They may use their own forms Consult with an attorney Inspections before closing can protect your rights
Having an agent really helps with builders 13
Making Offers We’ll make sure that your offer reflects your wishes Your negotiation edge can be information about the seller and their motivation Focus on the big picture
Being flexible helps you in negotiations 14
The Seller’s Three Options Accep t D eclin e Co u nter o ffer
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There are Different Kinds of Markets A B u yer ’s M a r ket Low demand, high inventory, prices are falling
A St a b le M a r ket Prices and inventory are stable
A S eller ’s M a r ket High demand, low inventory, prices are rising
This will affect your offer strategies
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Making Offers in a Seller’s Market Competing with other buyers Homes can sell quickly and for more than the asking price Pre-qualified vs. pre-approved Write a “seller friendly” offer Being flexible is critical
Sellers have the edge in a Seller’s Market
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Making Offers in a Buyer’s Market More homes to choose from: • Bank and government owned foreclosures • Short sales Motivated sellers Easier to get a good deal
Buyer’s have the edge in a buyer’s market
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Let’s Analyze the Market Metrics Now L ist in g vo lu m e Ab so r p t io n rate Days o n m a r ket These metrics will tell us which market we are in right now 19
The Under Contract Process Physica l inspec t io ns Th e tit le co mmit me nt HOA do cument s Hom eowne r ’s insura nce Th e appra isa l Loan co mmit me nt Fin al wa lk t hro ug h Cl os ing a nd po ssessio n Th is is yo ur time fo r due dilig e nce 20
What is Due Diligence? Inspecting and researching all of the details of the property: • The physical condition
• Surveys and encroachments
• The condition of the title
• Insurance requirements
• HOA rules and financials
You want to make sure that the property is acceptable to you 21
Inspecting the Property You can inspect the property to make sure it meets your standards: • Home inspection • Structural inspection • Radon test • Sewer lines • Any other concern
You can object to any condition 22
The Title Commitment A commitment to insure that is subject to: • Requirements • Exceptions Mineral rights may have been severed from the property Covenants, conditions and restrictions of the property
Getting legal counsel is advised
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HOA Documents & Review You should review: • HOA Financials • Rules and regulations • Meeting minutes • Annual meeting notes You want financial stability and reasonable rules
This can help eliminate any surprises later 24
Surveys & ILCs
Checks the property boundaries and for any encroachments A survey locates the actual lot dimensions with measurements An ILC is only an option of the surveyor that buildings appear to be in the right place
Confirming lot lines is important
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Steps in the Loan Process For m al loa n a pplicatio n Ver if icatio n o f e mploym ent an d f ina ncia l o blig atio n s A com ple te cre dit repo r t Proper t y a ppra isa l Un der wr it ing Loan co mmit me nt All your information will be documented 26
Closing & Possession Title and escrow companies Ownership and financing documents are signed Possession will be delivered to you per the purchase agreement
We will verify everything is done correctly 27
How We Work for You We are consultants, not sales people We’ll provide you with the information you’ll need to make good decisions We’ll help you to identify your options in every situation We’ll keep you informed every step of the way
We are committed to your success
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Our Services Include Analyze properties and situations Preparing offers that reflect your wishes Helping you negotiate Managing all of the contract details
Our job is to be your trusted advocate
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Our Pledge to You We’ll always inform you of any potential problems or issues We always focus on your best interests in every situation We’ll always work to earn your recommendations, reviews and referrals
Your complete satisfaction is our goal
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Questions? Th e sea rch proce ss? Fin an c ing ? Agen c y? M ak ing o ffe rs? Th e l oa n proce ss? I n sp ec tio ns a nd due diligen ce? Loan commit me nt ? Any ot he r to pics? 32
We are committed to helping you get where you want to be, on time 33
Broker Associates | Kentwood Real Estate DTC Clients describe the Buckley Team as being enjoyable to work with and always delivering on their promises. Whether their client is buying or selling a luxury or starter home, the dynamic team regularly exceeds expectations with their innovative and aggressive approach to marketing, their knowledge of the Denver metro market and their sharp negotiating skills.
Jim Buckley 303.916.2500 JBuckley@Kentwood.com
Buckley-Team.com 34
They are tirelessly committed to providing the highest level of personal service, which means constantly communicating, respecting people’s time, and being hyper-focused on delivering a smooth and successful experience. This certainly explains why they consistently rank as one of Denver’s top real estate teams and one of Kentwood’s star performers.
Helena Buckley 303.916.1699 Helena@Kentwood.com
Dan Buckley 720.951.4976 Dan@Kentwood.com
About Jim With metro Denver’s population and associated transplants booming, it’s not every day you meet a fourth-generation Coloradan like Jim Buckley. For 35+ years, Jim has consistently ranked as one of Denver’s top-producing residential real estate agents, earning a reputation for honesty, hard work, and exceptional follow-through. Wanting to remain a trusted representative for his clients, Jim has received some of the highest credentials awarded in the real estate industry. He is also dedicated to his own personal growth by reading books daily, attending seminars, listening to podcasts;
you name it so he can serve his clients at the highest level. Learning has become a past-time and a hobby for Jim. In this everchanging world he knows how important it is to be on top of his game by being the best he can be and also being on top of new technology and marketing strategies. Jim enjoys gardening and tinkering around his yard, making craft cocktails including his famous margaritas, skiing, golf, fishing and watching football.
About Helena Helena’s path to real estate is unique. After a career as a Compensation and Benefits Facilitator at St. Anthony’s Hospital/Centura Health where she managed the well-being of 6,000 employees, she had the great task and pleasure of raising their three children. In 2008 Helena received her real estate license to support Jim and his career. She was excited to jump back into the professional world. With her considerate and caring nature, it’s not surprising she plays an integral role in making each transaction go seamlessly. Helena also brings to the table her creativity as a certified stager, her impeccable eye for style and character and
she knows how to showcase the best features of a home. Behind the scenes Helena is the ghost writer who makes sure the Buckley Team’s listings are presented well online and the marketing pieces and strategies are top notch. Helena is a natural helper serving on many committees and supporting many organizations. The senior community is also near and dear to her heart. In Helena’s spare time you will find her on the golf course, taking a marathon walk, spending time with her girlfriends or entertaining her family with a great home cooked meal.
About Dan Dan Buckley is a proud 5th generation Colorado native with a deep understanding of our state’s culture, traditions, and history. He knows firsthand how Colorado has become one of the most desirable places in America to call home. With a bachelor’s degree from The University of Oklahoma in Entrepreneurship and Venture Management coupled with growing up in a highly successful real estate family Dan is focused on building his business by providing exceptional unparalleled service to his clients and using new technologies and strategies in this rapidly changing world.
Dan has many accomplishments and realworld experience under his belt. He was a competitive lacrosse player in high school. He wrapped up his college career taking first place in The Loves Cup Entrepreneurship competition and $20,000 cash prize. After college he had 3 years in medical sales. His love of Colorado and close knit family ultimately lead him to his career in real estate. In his spare time Dan enjoys golfing, skiing and watching college and NFL football.
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Jim Buckley 303.916.2500 JBuckley@Kentwood.com Helena Buckley 303.916.1699 Helena@Kentwood.com Dan Buckley 720.951.4976 Dan@Kentwood.com Buckley-Team.com
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Kentwood Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.