Take Aways BUYING SIMPLIFIED
S M A R T D E N V E R R E A L E S TA T E . C O M
#1 Brokerage in the Country In the process of moving our clients to their better lives, we’re humbly proud of being rated the #1 Brokerage in the Country for Client Experience on Zillow. We’re also top rated on Yelp and Google.
1,400+ Five-Star
550+ Five-Star
580+ Five-Star
Reviews & Counting
Reviews & Counting
Reviews & Counting
Stats That Matter Here are a few stats that we think are important for you, as a buyer, to consider when choosing your Real Estate Advisor - and yup, we consider ourselves Advisors, an elevated version of an “agent”. Why? Because in all honesty, getting your real estate license is not that hard, and we operate in a lifetime advisory relationship, not just for the duration of a transaction. Our services don’t stop at the closing table and we work tirelessly to elevate our standards, expertise and processes to provide our clients with more than they expect and everything they deserve.
15 Years+
600+ Sold
Serving the local real estate market
Properties transacted in the past 12 months (one every 17 hours)
$390+ mil
Top 1% Rated
In sales in the past 12 months
In the US for Client Experience
PRESENTED BY
T H R I V E R E A L E S TAT E G R O U P smartdenverhomesearch.com
Navigating The Market YOUR BUYING JOURNEY All great journeys start with a first step and when you’re buying a home, having a team of experts on your side from that very first step can be a huge asset. From ever-changing market conditions, to financing rules and regulations, to city-specific laws, it pays to work with a qualified REALTOR® up front and early in the piece.
Here’s a brief overview of what that journey looks like. Thrive Advisors live, work and play across the greater Denver area and our goal is to zero in on the right home purchase for you, your lifestyle, needs and budget—and have fun doing it.
1. Engage a Thrive Advisor 2. Select a seasoned mortgage professional 3. Pre-underwrite for a loan 4. Create a needs & wants list 5. Visit properties 6. Understand which aspects will help or hinder later resale 7. Rank the houses you visit 8. Make an offer (and have it accepted) 9. Perform due diligence 10. Finalize financing 11. Move to your better life
S M A R T D E N V E R R E A L E S TA T E . C O M
BUYING SIMPLIFIED | 2
Property Goals It's time to get crystal clear on your property goals. Use these prompts to establish your north star during the process of seeking out and securing your home.
B E D S / B AT H S ?
S Q U A R E F O O TA G E ?
G A R AG E ? (More importantly, what’s in your garage?)
NEED A FLEX/OFFICE SPACE?
W H AT ’ S Y O U R I D E A L T I M E F R A M E ?
W H AT ’ S Y O U R M A X B U D G E T ?
W H AT ’ S Y O U R M O N T H L Y P AY M E N T BUDGET?
H O W L O N G D O Y O U P L A N TO L I V E I N THE HOME FOR?
W H AT N E I G H B O R H O O D ( S ) ?
P R O P E R T Y CO N D I T I O N ? (turnkey, cosmetic updates only, fixer is fine)
STYLE OF HOME
YA R D O R N O YA R D ?
(ranch, historic, modern, condo, townhouse)
URBAN, SUBURBAN, RANCH?
BUYING SIMPLIFIED | 3
A N Y T H I N G E L S E I S H O U L D K N OW ?
S M A R T D E N V E R R E A L E S TA T E . C O M
Pro Tip The 70/20/10 Rule It’s rare to find a house that is 100% perfect - even on a multi-million dollar budget. We’ve found that if you look at any house through the 70/20/10 Rule, you’ll be a lot closer to “the one”.
70%
20%
10%
the amount you
the amount you’d
the amount you
must love about the
be OK to change
must simply be OK
house, as is.
about the house
to live with, as is.
once you move in.
Of course, these ratios may change if you are a die-hard renovator and love “a project”, but 70-20-10 is a good general rule of thumb for most buyers to keep in mind.
S M A R T D E N V E R R E A L E S TA T E . C O M
4 | BUYING SIMPLIFIED
The Typical Buying Process in Colorado As a buyer you have many opportunities during the contract process—which is usually 21 to 30 days—to decide whether or not you want to proceed with the purchase of the property. This is what a typical 30-day contract process looks like. Of course your dates and deadlines may differ, but this gives you an idea.
THRIVE / LENDER
BUYER
01
02
03
Congrats! You’re Under Contract!
- Appraisal ordered - Title work ordered - Disclosures & needs list sent to you
Earnest Money Due
Loan App Due
06
07 - Processor submission & intro call
08
04 - Lender reviews signed disclosures & needs list. - Lender orders transcripts, evidence of insurance
09
12
10 - Inspection Obj/Term
New Loan Terms Deadline
- Title Objection
- Title docs due
11
05
- Insurance Deadline
13
14
Inspection Resolution
15 - Conditional underwriting approval
Title Resolution
16
17
18
Processor submission for closing
Processor call with anything needed to clear conditions
Resubmission to Underwriter for clear to close
Appraisal Objection
Appraisal Resolution
21
22
- Final approval or conditional approval - Closing time schedule
26
27
19
20
23
24
25
- If needed, resubmit back to underwriting for final approval -Confirm closing
- Final loan approval - All RE contracts and disclosures are fully executed
Closing Disclosure from lender for final signature
28
29
30
All lender documents signed & sent to title company
Final walk-through with your Thrive Advisor
Closing Day!
Wire sent to Title Company
BUYING SIMPLIFIED | 5
New Loan Availability Deadline
S M A R T D E N V E R R E A L E S TA T E . C O M
Writing Your Story We love what we do and the clients we get to work with. Whether you’re first-time-buying, upsizing, downsizing, moving into the State or just across the street. We’d love to be part of that journey and part of your Better Life Story.
BECAUSE THESE ARE THE S TO R I E S W O R T H T E L L I N G .
Our Mission W H AT W E D O We simplify and clarify home buying and selling.
Our Vision WHY WE DO IT We move people to their better life.
Our Values H OW W E D O I T We advocate selflessly, execute tightly and live lightly.
BUYING SIMPLIFIED | 6
Resource Roundup If you need to flip to a FAQ or want to dig deeper into Thrive or the buying process, here are a few extra resources.
A BUYER'S AG E N T ?
FIRST TIME BUYER TIPS
R E A L E S TAT E TERMS
THRIVE GIVES BACK
Whether you work
A great list of tips and
Don’t let the lingo
See how your choice in
with a Thrive Advisor
tricks to prepare you
confuse you. We’ve
working with a Thrive
or not, you should
to buy your first
simplified and clarified
Advisor impacts
know everything a
home.
some of the RE jargon
homelessness on a
in this handy glossary.
global scale through
buyer’s agent should do for you on your
our charity partner,
property journey.
New Story.
H OW S T H E MARKET?
U N D E R S TA N D I N G C R E D I T S CO R E S
T H E M O R T G AG E PROCESS
M O R T G AG E C A L C U L ATO R
Get an up-to-date, non
A simplified overview
A quick and
This online calculator
spammy, micro-niched
of credit scores and
easy-to-follow break
will help you estimate
snapshot of the Denver
how they impact your
down of the key
your monthly
market and how it may
lending and buying
components of the
payments, including
impact your property
powers.
mortgage process.
taxes and mortgage
Remember, you’re
insurance.
purchasing decisions.
buying a loan as well as a house.
S M A R T D E N V E R R E A L E S TA T E . C O M