Although embarking on the journey of finding and buying a home in the Denver, CO area might seem daunting, Realtor Brad Dunevitz and the Five Star Real Estate team simplify the process for our valued clients. Here's a breakdown of the steps we take together:

1) Establish A Working Relationship With Realtor Brad Dunevitz

Let’s talk — about you, your situation, your timeline, and the real estate market — and become comfy with each other. Please ask me questions and I’ll ask you questions. This is our first date! 

2) Discuss, Analyze Your Needs 

Are you interested in a house, a townhome, or a condo? In an urban area or a suburb? Do you need at least a two-car garage, or does it not matter? Is your family growing and needs another bedroom and bathroom? Hmm, what about a finished basement? Or a fixer-upper? Or central air conditioning? 

3) Complete Loan Application, Including Credit Pull 

Before searching for your home, we need to calculate your monthly payment and establish your budget. If you don’t have one already, then I can refer you to experienced and trustworthy lenders who can accurately preapprove you for a loan.

4) Receive Loan Preapproval 

We must submit the lender’s preapproval letter when we submit an offer on a home. That’s the only way the seller and the listing agent have proof you can purchase the home. With that letter in hand, we are in a great position to make an offer that will be taken seriously.

5) Sign Up With Brad For A Backstage Pass To MLS 

Using your selection criteria and the industry’s most-advanced search tools, I’ll locate the homes that match your needs and price range and email them to you immediately.

6) Sign A Relationship Agreement With Brad 

Per the Colorado Real Estate Commission, this is our agreement that I will solely represent you — not the seller — with the utmost good faith, loyalty, and fidelity; that I have a fiduciary responsibility to you; and that the seller will pay my commission!

7) Tour Properties, Find Home You Want To Buy

I’ll schedule private showings for the homes you are interested in seeing. Although most buyers choose a home after seeing about 10 of them, we will look at as many as it takes to find the best match.

8) Work With Brad To Submit An Offer To Buy 

I will prepare a clean offer that puts you in a strong position. The offer will contain the purchase price, amount of your loan and down payment, inclusions (such as kitchen appliances), exclusions (such as the dining room chandelier), several dates and deadlines, and much more.  

9) Go Under Contract 

When the seller signs our offer, then we are officially “under contract” and a score of events and paperwork begins.

10) Deliver Earnest Money

After we go under contract, you have up to three business days to deliver earnest money, which is “good-faith money” that ensures you are serious about buying the home. The earnest money typically is about 1% to 1.5% of the purchase price.

11) Conduct Property Inspections 

I strongly recommend you pay for a general home inspection and possibly a sewer scope and a radon-gas test. If the inspectors find big-ticket issues, then we will submit an inspection objection and negotiate those items with the seller. If you and the seller don’t agree on a resolution, then you can terminate the contract.

12) Review Title Commitment 

Title proves ownership of something, such as a home or a vehicle. Home sellers must convey a “marketable” title to home buyers. In other words, the home must have no liens or encumbrances on it, such as a mechanic’s lien, an IRS lien, or an HOA lien. I will review the title commitment to ensure its marketability. 

13) Get Homeowner’s Insurance 

If you’re getting a loan to buy a home, then the lender needs proof that you will have adequate homeowner’s insurance, beginning the day you take ownership. Simply contact your insurance agent to receive a quote and send the quote to your lender. I can refer you to experienced and trustworthy insurance agents if you need one. 

14) Work With Your Lender To Order Home Appraisal 

The lender will order an appraisal to determine the value of the property. If the value is less than the agreed-on price, then you can negotiate the price or terminate the contract.

15) Satisfy Lender Loan Conditions

Conditions could include paying off a bill or an outstanding judgment, closing an account, providing your most-recent pay stub or bank account statement, or something similar that your lender is requiring.

16) Get “Clear to Close” On Your Loan 

After you’ve satisfied all loan conditions, and when your lender tells you these three magic words — “clear to close” — you are done providing paperwork to your lender and are ready to close!

17) Review Final Settlement Statement (closing figures)

This document summarizes your closing costs and credits, such as purchase price, earnest money, lender fees, property taxes, and escrows. The title company creates the document, and your lender will review it with you.

18) Sign Documents at Closing, Pocket Keys, Move In! 

This is the day you sign closing docs and officially become the owner of your new home. The 60- to 90-minute closing typically occurs at a title company’s office. Although this is the last step in the process, I will be there with you to ensure everything runs smoothly.