Frequently Asked Questions

To begin the home buying process, it is important to first sit down with a real estate agent. Your real estate agent should walk you through what he/she can do for you, the buyer, and also describe the steps from your initial conversation to the delivery of keys at closing.

In your initial conversation, your real estate agent will ask you if you are pre-approved for a loan. If you’re not currently pre-approved you’ll be provided with a local lender. It is important that a lender is able to check your documentation and approve your loan amount so you and your real estate agent know what price point you are comfortable with and can shop for in your new home.

Your real estate agent will also get you set up on a listing search through the local MLS (multiple listing service). This will give you exactly the housing market information you need to be competitive in the local real estate market. You will get daily, and even immediate, notifications about new listings, price reductions and back on market properties so you can begin house hunting right away! Don’t worry, Real Realty Colorado agents have both MLS’s so you won’t miss any properties!

Real Realty Colorado agents only have five-star reviews. We are real estate experts who are here to coach you through the process and sell your home in any type of market. We use our specific skill sets to get buyers in your home, and excited about it. We are always available to sit down for a listing appointment and explain, in detail, why we are the best fit for you.

There is no right or wrong answer to this question. Sometimes a Buyer will fall in love with the first or second home he/she sees. Sometimes, it will take a few more showings to find what you are looking for. It’s all about your comfort level and going with your gut feeling.

An estimated number of homes a buyer sees before deciding to put in an offer is between 5-15 homes. This amount of homes is usually spread over a couple of weeks. It is always possible to see more, however, go with your gut. Your agent can help you in this process.

The simplest way to think of earnest money is as a good faith deposit to the seller, that you as the buyer are going to take the necessary steps through the contract process. Earnest money is usually held by the title company or the listing agent’s company.  

In the event that something happens throughout the contract process – maybe it’s an inspection item or your loan – your earnest money is fully refundable if your agent uses the dates and deadlines section correctly. You would need to terminate the contract on or before any of your contingency deadlines for the money to be refunded back. If you made it through all your dates and deadlines, and a few days before closing you decide you don’t want the home, that is when the seller would keep your earnest money. If you decide to move forward with the purchase of the home, then your earnest money will go towards your down payment.

The amount of earnest money will vary depending on the price of the property. The amount is determined by the seller and listing agent. Typically the earnest money is right around 1% of the purchase price of the home. You will need to have the earnest money ready and available the moment you decide to write an offer on a home. Usually, 3 days after going under contract on a property, you will need to write a check to the title company, so make sure you have the funds available.

As local Boulder County real estate experts, we can help you with the answer. We will combine our real estate experience, housing market trends, expertise with information about recent home sales and comparable homes in your neighborhood, and unique features of YOUR home to provide you with a FREE detailed comparable market analysis with an accurate valuation. We also provide outside perspective to help you understand how possible buyers will see the value of your home. Do not hesitate to reach out so we can inform you of what your home is worth.

There are some logistics and coordination to consider, but yes, you can buy a home and sell your current home at the same time!

You will need to get your current home ready to sell, and put it on the market so possible homebuyers can start looking at it. You will also need to start looking for a home that you are interested in moving into.

Once you find a home you are interested in, it is time to put in an offer. In your offer, you will need to disclose to the Seller that the purchase of their home is contingent on your current home selling. Once both homes go under contract, you will need to coordinate the closing of your current home, and then your future home, so you will have funds available to complete the purchase.

Closing costs vary depending on if your a Seller or a Buyer. For a Buyer closing costs include a variety of expenses in addition to the purchase price of your homes, such as title insurance, lender costs, and homeowners insurance.

The amount you’ll pay in closings costs and pre-paid expenses as a Buyer varies between $4,000-$10,000, however, your lender will confirm with you. These closing costs are in addition to your down payment.

By law, homebuyers should receive a loan estimate from your lender within three days of going under contract that should include an estimate of your closing costs. Three business days before your scheduled closing, you should receive your closing disclosure, which will provide final details about our loan and closing costs.

Sellers have different closing costs when they sell a home, which includes but not limited to title fees, Hoa transfer fees, real estate commissions, and credits to buyers. Call us for a more detailed description.

To help pinpoint exactly what you are looking for in your home and to make the process easier, it is a good idea to take the time to know what your needs vs. wants are ahead of time before going to showings. Some things you might want to consider on your list are:

-number of beds and baths

-size (home and lot size)

-style of home (single family, townhome, condo)

-floor plan

-location and neighborhood

-overall condition (move in ready or fixer upper)

-immediate first impression