So you want to buy a house in the beautiful Denver area, but you’re nervous because you’ve heard horror stories about what can go wrong. I’m here to tell you, while there truly is a lot that can go wrong, these problems can almost always be addressed and solved.
As long as home owners want to sell a house, and home buyers want to buy a house (and not TOO MUCH changes in the political realm), things can be worked out.
There’s a lot of annoying things that can happen in the loan process. It’s important to remember that your lender wants you to get a loan, and in fact will not get paid if you aren’t successful. In other words – don’t forget that you’re on the same side!
First, your lender will give you a list of things to do and not to do in the interim before closing, such as, “Don’t buy a car, don’t change jobs”. They may also get very nosey about things like, “Where did this big cash deposit come from?” and ask you to prove your answer. And if your credit score needs a bump up, the lender may say pay off some debts, or contact the credit reporting bureaus to get some things cleaned up.
It’s totally annoying to do what you’re told, but please – in the interest of getting into that new home - Do as they ask. Don’t get creative, don’t get advice from a TV personality or your best friend’s cousin. Some of these tasks will be real, time-consuming work. But they won’t assign anything that’s impossible, just keep pushing and you’ll get through it.
If you chose a good lender, and did all they asked, they most likely will have all they need a few days before closing on your new home. You can relax and start packing. If you chose a not-so-good lender, they will still be working on your package the day you’re supposed to close, and there’s not many things more annoying than that.
Sometimes, even a good lender has trouble getting a difficult loan finalized. But a good lender would have explained what might go wrong and how they’ll try to fix it. And even though not getting the loan would be much worse than annoying, at least you should end up knowing the lender did all they possibly could.
And the best lenders would stick with you, and help you change the situation, so you can get the loan next time.
If you need to find a lender, I can give you names and numbers of a couple of good ones. I don’t receive any kind of financial payback for dong so, just the satisfaction of knowing they’ll do the best job for you.
Here’s some blog posts written by actual lenders, that will help you understand more about getting a loan to buy a house.
What is Mortgage APR, Can You Explain It?
Rates, apr, points, fees, gfe's - How the Playing Field is Still Crooked
Why Loan Officers Kill Deals, Cost You Time and Money, and Anger Customers
(This is the second post in a series. See the first post.)
I write posts on real estate issues and local events in the Denver metro area, especially those communities between Denver and Boulder, as a public service. My hope is to give people an idea of the 'flavor' of our community, in case they're new or moving to Denver area.
I am a residential real estate agent, and would love to assist you if you're considering buying a home or selling a home in the northwestern Denver suburbs.
Recently, a home buyer told me, “I don’t like all these surprises!” We were in the middle of a short sale transaction, and there were a few surprises but no more than usual. It all seemed pretty normal to me.
Then I remembered, nothing about buying a house is ‘normal’ to most home buyers. Pretty much everything is either a mystery or a surprise unless I tell them what to expect.
I was pretty sure I HAD explained everything, but obviously it didn’t all ‘stick’.
There’s so many things that can happen, and so many twists and turns (especially with the distressed sales so common today), that when I try to tell my clients everything they need to know, their eyes glaze over and they don’t remember half of it.
So – I’m developing a series of blog posts that will address all the issues I can think of, from the perspective of both home buyers and home sellers, especially those between Denver and Boulder. Many of these issues apply nation-wide, but most are local. So if you, dear reader, are buying or selling a house in another area, please do find a reliable, patient real estate agent you can call your own. If you need help finding one, I belong to an organization of well over 100,000 real estate agents all over the country, and I can give you the inside scoop on a couple in your area.
And if you’re a client of mine during the time period that I’m working on these posts, you just might recognize part of your story used for illustration. So I’ll thank you in advance for all the wonderful subject matter you give me each and every day in the wonderful world of real estate!
I’ll add links to this post as new ones are developed, and I'll do a separate 'starter post' for home sellers, so please come back often.
1. Getting your loanClick here to read it.
2. Finding the house
3. Offer, Counteroffer
4. Inspection & Negotiation
5. Appraisal
6. Closing
7. Moving
8. The Special Fun of ‘Distressed Sales’
9. REALTOR Speak
I write posts on real estate issues and local events in the Denver metro area, especially those communities between Denver and Boulder, as a public service. My hope is to give people an idea of the 'flavor' of our community, in case they're new or moving to Denver area.
I am a residential real estate agent, and would love to assist you if you're considering buying a home or selling a home in the northwestern Denver suburbs.
Yes, this is my 100th real estate-related blog post about buying and selling homes between Denver and Boulder. I can't believe it! Blogging seemed so hard at first - such a huge learning curve. But now, I take my camera everywhere I go, and jot down ideas all the time. I have a list of ideas for posts yet to be written.
Best of all, I've met some wonderful people via blogging. I had a buyer close week before last, one closing tomorrow and another under contract, who all found me online.
I have a lot to learn still, I know. My posts could be more SEO-savvy, and prettier. But I've very much enjoyed the journey and look forward to all that's just over the next hilltop.
Life in Arvada - Neighborhoods, Stores, Things to Do, Local Info
Home for Sale, Incredible Value, 6080 Deframe, Arvada Colorado
Between Denver and Boulder - Olde Town Arvada
Between Denver and Boulder - Who's on Your Side When You Buy a House
Buy a House and Get the Best Deal
I write posts on real estate issues and local events in the Denver metro area, especially those communities between Denver and Boulder, as a public service. My hope is to give people an idea of the 'flavor' of our community, in case they're new here or considering a move here.
I am a residential real estate agent, and would love to assist you if you're considering buying or selling a home in the northwestern Denver suburbs.
Find homes for sale in Arvada and nearby communities.
There’s a lot of controversy about government spending these days, including the extended tax credit for home buyers. I'm not going re-hash the debate, but I want to make a statement about my thoughts from the perspective of a real estate agent.
First, did the credit that is about to expire help at all? I think the obvious answer to anyone familiar with our local market is “Yes!” It most certainly turned the entry-level market around. It’s actually difficult to find a nice, 3-bedroom, 2-bath house in Arvada for less than $225,000, with simple specifications such as it doesn’t adjoin a busy street or train track.
That’s not my opinion, that’s the real-life experience of people looking for a home right now. The tax credit cleaned out existing entry-level inventory. There are more homes available in surrounding cities such as Westminster and Thornton, but the ones that aren't over priced go fast.
Along with the $8,000 tax credit for first-time home buyers, the new tax credit offers $6,500 to people who have owned a home for at least five years, when they buy a new home. I believe this will have the effect of making more entry-level homes available, and really jumping our local market into high gear.
Is it good or bad for our country? Will it help or hurt our economy? Is it morally right or wrong for me to benefit from it, in the form of more clients? I don’t know all the answers – all I know is this –
If YOU want to buy a house, and this tax credit is going to make it feasible for YOU, and YOU want to take advantage of it, I’ll be so excited for YOU and completely supportive. But YOU have got to get going NOW, especially if you have a house to sell. (You must be under contract on the new house by the end of April and closed by the end of June.)
The people that have made the most out of the tax credit thus far, are folks who bought homes that needed work, and used the funds to do a large portion of that work. These people may not have been able to buy a home at all without the credit.
The people who most need the ‘move-up’ funds of $6,500 are folks who need to move into a bigger house, smaller house, closer to an ailing family member, etc., but don’t have any equity, and don’t want to move with no money at all left in their bank accounts. Many who already have their house on the market will now see their way clear to lowering the price and getting their plans for their future moving again.
Is it ‘right’ or ‘wrong’ in the big picture? Time will tell. But is it right or wrong for YOU – that’s what matters to ME. Please, let me know if the tax credit made or is going to make a difference to you, even if you used a real estate agent other than me.
I’d really like to hear your stories.
I write posts on real estate issues and local events in the Denver metro area, especially those communities between Denver and Boulder, as a public service. My hope is to give people an idea of the 'flavor' of our community, in case they're new here or considering a move here. I've collected my local info posts here.
I am a residential real estate agent, and would love to assist you if you're considering buying or selling a home in the northwestern Denver suburbs.
Find homes for sale in Arvada and nearby communities.
Life in Arvada is the subject of several posts I've written on neighborhoods, merchants and stores, things to do, and other local info, with the hope of helping those trying to get a feel for life here.
I know how hard it can be to get a handle on the ins-and-outs of a smaller town like Arvada. People seem to think about Denver or Boulder when moving to Colorado, but what about all those suburban towns and neighborhoods between the better-known cities? Arvada is one of those towns, and it's a sweet one.
So if you're new to the area between Denver and Boulder, or thinking of moving here, I hope you'll find the info in these posts informative and enlightening. I've gathered them here, and will keep adding links to this post as I get new ones written.
Enjoy!
(And if you have questions I can address, or if there's something you'd like to see more info on, let me know.)
I write posts focused on local businesses as a public service, and am not endorsing any business, nor do I have any sort of 'relationship' with them, other than as a raving consumer. My hope is to give people an idea of the 'flavor' of the community of Arvada, in case they're new here or considering a move here.
I am a residential real estate agent, and would love to assist you if you're considering buying or selling a home in the northwestern Denver suburbs.
Neighborhoods
New Homes for Sale in West Arvada - Whisper Creek, Spring Mesa, more
Olde Town Arvada's Historic Neighborhoods
Village of Five Parks Sales Statistics
Pomona Lakes homes with 2000 Finished Square Feet
Pomona Lakes Real Estate Snapshot
Arvada Colorado Luxury Home Market Report
Merchants & Stores
A Butcher - Steve's Meat Market
A Baker - Rheinlander German Bakery
La Patisserie Francaise French Bakery
Novo Coffee and The Arvada Coffee Bar
A Candlestick Maker - Nature's Gift Candleworks and Studio
Things to Do in Arvada
Things to Do Near Arvada
Quality of Life
How our Doggies Deal With the Snow
My Newsletter on Local Events, News, and Real Estate
Local Real Estate Information
Check Building Permits Before you Buy a House
I have lots of other posts you might like - here's my blog.
Subscribe to my blog using the button to the right.
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I help people buy homes and sell homes in Westminster,Arvada, Golden,Broomfield, Thornton,Longmont,Louisville CO;only 3 buyers and 3 sellers at a time so I can serve you in a relaxed, friendly manner.
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