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FAQs

Buyer FAQs

Home prices in Denver vary based on location, size, and condition. As of recent market trends, the median home price is typically around $550,000 - $600,000, but this can change. It’s best to check current listings for the most accurate pricing.

Denver is known for its competitive real estate market, with many homes receiving multiple offers. Low inventory and high demand can drive up prices, especially in desirable neighborhoods.

Popular neighborhoods include Wash Park, Highlands, Cherry Creek, Sloan’s Lake, Capitol Hill, and Stapleton (Central Park). Each area has unique features, so it’s important to consider your lifestyle and commute preferences.

Colorado has relatively low property taxes compared to other states. In Denver, the average effective property tax rate is about 0.5% - 0.6%, but this varies by neighborhood and property value.

Yes, Denver has a strong rental market due to population growth, job opportunities, and quality of life. Investors often look at areas like RiNo, LoHi, and Sloan’s Lake for short-term and long-term rental opportunities.

Buyers can use conventional loans, FHA loans, VA loans (for veterans), and jumbo loans for higher-priced properties. Many first-time homebuyers explore local down payment assistance programs as well.

While a 20% down payment is standard, many buyers put down 3-5% with FHA or conventional loans. Some loan programs allow even 0% down for qualified buyers, such as VA loans.

The closing process typically takes 30-45 days, depending on financing and inspection contingencies. In competitive markets, cash buyers may close in as little as two weeks.

A standard home inspection covers structural, electrical, plumbing, and HVAC systems. Additional inspections for radon, sewer lines, and foundation issues are common in Denver due to its older housing stock and soil conditions.

Yes! Colorado offers CHFA (Colorado Housing and Finance Authority) loans, down payment assistance programs, and Denver’s Mortgage Credit Certificate (MCC), which can provide tax benefits.

The first step is to get pre-approved for a mortgage to determine your budget. Then, work with a real estate agent to find properties that match your needs and submit an offer when you find the right home.

Once your offer is accepted, you’ll enter the under-contract phase. This includes scheduling an inspection, securing financing, and completing the appraisal before finalizing the purchase.

Earnest money in Denver is typically 1-3% of the home price and is submitted with your offer. It is held in escrow and goes toward your down payment or closing costs. If you back out for a contractual reason (like a failed inspection), it may be refundable.

Lenders require an appraisal to determine if the home’s value aligns with the loan amount. If the appraisal is lower than the purchase price, you may need to renegotiate with the seller or cover the difference.

Buyers in Denver typically pay 2-5% of the home’s price in closing costs. These include loan origination fees, title insurance, escrow fees, and pre-paid property taxes. Some buyers negotiate for sellers to cover part of the closing costs.

A home inspection usually takes 2-4 hours, depending on the size of the home. If significant issues are found, you can negotiate repairs, ask for a price reduction, or walk away if the contract allows.

Contingencies are conditions that must be met for the sale to go through. Common contingencies include financing, appraisal, inspection, and home sale contingencies. They protect you by allowing you to back out under specific circumstances without losing your earnest money.

On closing day, you’ll review and sign all necessary documents, pay any remaining down payment and closing costs, and receive the keys to your new home. The title is officially transferred to you.

Colorado is a title company state, meaning an attorney is not required for closing. However, some buyers choose to hire one for legal advice, especially in complex transactions.

Typically, you receive the keys at closing once the funds have been transferred and the title is recorded. However, in some cases, a post-closing possession agreement may allow the seller extra time to move out.

Seller FAQs

Denver’s market has been historically strong for sellers due to high demand and low inventory. However, market conditions can shift based on interest rates and economic factors. It’s best to consult a local real estate agent for up-to-date trends.

Spring and early summer (March – June) are typically the best times to sell, as buyer demand is high. However, homes can still sell well in the fall and winter, especially if priced competitively.

Pricing should be based on a comparative market analysis (CMA), considering recent sales, market trends, and your home’s condition. Overpricing can lead to longer market times, while competitive pricing can attract multiple offers.

Buyers often look for updated kitchens and bathrooms, energy-efficient upgrades, finished basements, and outdoor spaces. In Denver, a garage and good insulation for winter are also strong selling points.

It depends on your timeline and budget. Minor repairs and cosmetic updates can increase value and attract more buyers. However, if selling “as-is,” expect buyers to negotiate a lower price or request credits for repairs.

On average, a well-priced home in Denver can sell within 30-60 days, but this varies by market conditions. Homes in hot neighborhoods or priced competitively may sell within days.

While not required, staging can help highlight your home’s best features and make it more appealing to buyers. Professionally staged homes often sell faster and for more money.

Sellers typically pay for:

  • Real estate agent commission (usually 5-6%)
  • Title insurance
  • Potential repairs or concessions to the buyer
  • Prorated property taxes and HOA fees (if applicable)
  • Closing costs (1-3% of the sale price in some cases)

In most cases, if you’ve lived in your home for at least 2 of the last 5 years, you can exclude up to $250,000 ($500,000 for married couples) in capital gains tax. Consult a tax professional for your specific situation.

Cash offers are attractive because they typically mean a faster closing and fewer contingencies. However, financed offers may still be strong, especially if they come with pre-approved buyers and competitive terms.

First, consult a real estate agent for a pricing strategy and home evaluation. Then, prepare your home for listing by making any necessary improvements and gathering relevant paperwork.

After accepting an offer, the buyer will complete:

  • A home inspection
  • An appraisal (if using a mortgage)
  • Final mortgage approval

Once these steps are completed, you’ll move toward closing.

Buyers may ask for repairs or a price reduction based on inspection findings. As a seller, you can:

  • Agree to make the repairs
  • Offer a credit at closing
  • Decline and see if the buyer still wants to proceed

If the buyer is financing, the lender requires an appraisal to confirm the home’s value. If the home appraises for less than the agreed price, you may need to:

  • Renegotiate the price
  • Ask the buyer to cover the difference
  • Challenge the appraisal if you believe it’s incorrect

Yes, buyers can back out under certain contingencies, such as inspection issues, financing problems, or a low appraisal. If they back out for reasons not covered in the contract, you may be able to keep their earnest money deposit.

If multiple offers are received, you can:

  • Accept the best one
  • Negotiate with top buyers
  • Request “highest and best” offers to encourage bidding

A real estate agent can help you analyze which offer has the best terms (not just the highest price).

The closing process usually takes 30-45 days for financed buyers and as little as 2 weeks for cash buyers. Delays can happen due to appraisal issues, financing, or title problems.

Most sellers move out before closing, but you can negotiate a post-closing possession agreement to stay longer. This is common if you need more time to find a new home.

Before the final walk-through, ensure the home is:

  • Clean and in the agreed-upon condition
  • Repairs (if any) have been completed
  • All personal belongings (except agreed items) are removed

This is the buyer’s last chance to verify the home before closing.

You will receive your proceeds shortly after closing, usually within 24-48 hours via a wire transfer or check, depending on the title company.

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