HOW TO BUY A HOME - Flipbook - by Erin Rose

COLORADO PROPERTY

BUYING PRESENTATION

Elevating

your

REAL ESTATE EXPERIENCE

with Buying Specialist

ERIN ROSE

At Amplicity Real Estate Agency, we are thrilled to welcome you to an exceptional home-buying experience. Our agency is not just about buying and selling houses; it's about creating a seamless and rewarding journey for you, the home buyer. We do this by allowing your agent the freedom they need to get their job done! You won’t hear much about us - but we are always here for you behind the scenes, supporting your agent in whatever way we can.

Our Vision Amplicity was founded with a vision to redefine the real estate industry. We believe that this industry has changed, and with innovation and technological advances, the best way to support our home buyers is to empower our agents.

We are dedicated to them so they can be fully dedicated to YOU Expert Guidance: Our experienced real estate agents are your trusted advisors throughout the process. We guarantee that they have exceeded the minimum educational and licensing requirements and are experts in their specialties.

Innovative Solutions: We leverage bleeding-edge technology to simplify and enhance your home buying experience. Your agent has been trained to optimize strategic productivity and customer service opportunities throughout the process by leaning into amplified marketing and simplified systems.

Strategic Support: Our commitment to a simplified process means that we have given our agents the freedom to select and hire any transaction coordinator who best supports their business and clients. The ‘TC’ is one of the most influential components of any contract team, and our agents are not restricted or limited in any capacity on whom they choose.

What We Have in Common We both chose your agent! We believed they were a step above the rest, and we fully vetted them before inviting them into the Amplicity family. We believe and will confidently say you are in the best hands.

They are capable, experienced, independent, and genuine. They have a proven track record of clients who rave about their service, and where they can grow, they are consciously stepping up. No matter what lies ahead, your agent will take care of you.

We wish you the most incredible journey together!

Welcome to our Amplicity Real Estate Home Investment Team!

Welcome to AMPLICITY Real Estate

Agency

Your Partner behind the scenes in your Hom Buying Journey

Majestic Mountain Vistas: Denver stands as a gateway to the Rockies, offering breathtaking views of over 200 named peaks.

The Unique Mile-High City: At exactly one mile above sea level, Denver offers a unique experience. Here, golf balls fly farther, cocktails have an extra kick, and the sun shines a bit more intensely.

A Walkable Wonderland: Denver's downtown is a bustling hub, ranked among the nation's most walkable. It's a treasure trove of attractions—sports stadiums, arts centers, museums, a mint, and a plethora of dining options.

Sunny Days Galore: With over 300 days of sunshine annually, Denver rivals the sunny havens of San Diego and Miami Beach. Its mild, dry climate makes outdoor activities a year-round pleasure, even allowing for golf in January!

Rich Historical Tapestry: From a deserted land in 1858 to a booming state by 1888, Denver's history is as colorful as it is rapid.

An Oasis of Urban Greenery: Denver's dedication to green spaces is unparalleled. It's a green haven with over 200 city parks and 20,000 acres of mountain parks. Highlights include the Red Rocks Park & Amphitheatre and a city-owned bison herd, symbolizing Denver's commitment to nature.

A Sports Lover's Dream: Home to six professional sports teams, Denver's love for sports knows no bounds. From basketball to rodeo, the city's sporting landscape is as diverse as it is passionate.

Leading the Way in Sustainability: Denver is at the forefront of sustainable living. The city prides itself on its green initiatives, from the LEED-certified Colorado Convention Center to the eco-friendly practices at Denver International Airport and the innovative energy solutions at the Denver Zoo. Farm-Fresh and Foodie-Friendly: Denver's culinary scene is a paradise for food lovers. The city's commitment to fresh, local ingredients shines in its vibrant dining scene, burgeoning craft beer industry, and the growing number of distilleries and wineries..

Home,SweetHome

DENVER

COLORADO

In the dynamic world of real estate, Erin Rose stands out as a beacon of dedication, expertise, and unwavering commitment to her clients.

With over 16 years of experience, Erin's journey is not just about transactions; it's about forging lasting relationships, ensuring each client feels valued, understood, and supremely confident in their decision to work with her.

At the core of Erin's approach is a blend of sharp business acumen and a keen eye for smart investments. She's more than just a buyer’s agent; she's a visionary in the real estate landscape, leveraging her deep understanding of market dynamics to turn your property aspirations into reality. Her savvy negotiation skills, honed from her performance arts and music business background, make her a formidable ally in tough negotiations.

Erin's reputation is built on a foundation of trust, integrity, and clear communication. She goes beyond the call of duty to exceed expectations, transforming each real estate journey into a seamless, stress-free experience. Her approach is holistic – she doesn't just help you buy a property; she crafts an experience tailored to your unique needs, ensuring maximum satisfaction and client confidence.

Meet ERIN ROSE

BROKER | OWNER Amplicity REAL ESTATE Agency

CNE - CERTIFIED NEGOTIATION EXPERT

RENS - REAL ESTATE NEIGHBORHOOD SPECIALIST

*CRS - Certified Residential Specialist *ABR® - Accredited Buyer Representative *GRI - Graduate, REALTOR® Institute

MS in Marketing - UCDenver ErinRoseLovesBuyers.com ErinRose.RealEstate@gmail.com

720.588.0579

Education and continuous learning are pillars of Erin's success. Her Master's in Marketing from the University of Colorado and her firsthand experience in home building and property investment empower her with innovative real estate customer service strategies that set your home buying process apart.

Erin's early immersion in the Waldorf School system is the root of her creative, imaginative problem-solving abilities. This out-of-the-box thinking is pivotal in navigating the complexities of the real estate market, ensuring that no stone is left unturned in researching, inspecting, and considering your next perfect property.

Her journey began with a passion ignited during her tenure at Corcoran Jennison Leasing in 2005 and has evolved into a career characterized by perseverance and excellence. Erin understands the importance of adaptability, having thrived in various market environments, from the economic turmoil of the late 2000s to the evolving challenges of today.

Choosing Erin as your purchasing agent means partnering with someone who values your trust above all else. She's not just working to help you buy a property; she's committed to building a relationship that lasts a lifetime, grounded in mutual respect and a shared vision for your success on this deal and all the ones to follow as your portfolio grows. With Erin Rose, you're not just buying a home; you're stepping into a partnership that prioritizes your financial goals, lifestyle dreams, and peace of mind.

16+

Years of Experience

*Designation and Certification educational requirements have been met for the following accreditations but membership in each and every program has not necessarily been prioritized or maintained for all titles.

Hands-On Expertise When you work with me, you don't just get an agent; you gain a dedicated real estate portfolio partner. With 16 years of experience and a curated network of industry leaders, I bring with me a wealth of knowledge and experience. To serve you best, my approach is personal, customized, simplified, classy, and innovative.

Your Deal is My Priority You are always top of mind because I personally manage every aspect of your transaction, ensuring meticulous attention to detail and a seamless process from start to finish. This hands-on approach means that your property transaction isn't just another file on the desk; it's the focus of my daily thought, consistently considered and cared for.

Connected to the Industry’s Best With an extensive network to support us, you have access to some of the top names in the industry, and the list is constantly expanding. You benefit from a broad spectrum of insights and opportunities when you work with me. Whether finding hidden gems in the market or navigating complex negotiations, my network is your advantage.

Efficiency Behind the Scenes While I am deeply involved in every deal, my team of skilled virtual assistants and artificially intelligent support home bots help manage my calendar, review my addendums, audit my files, and artfully craft my legal-like objections and negotiations. This ensures that every client interaction allows for my full focus and that every transaction detail is thoroughly reviewed for accuracy and completeness. This allows me to be fully present with you with total confidence that a second checkpoint of expertise is helping to manage and audit all the details.

A Truly Personalized AND AI Real Estate Experience In a world of automated responses and generic service, I offer a refreshingly personal and deeply committed approach to your real estate needs - specifically because I have specialized expertise in creating automation and AI support that gives me more freedom of time to be truly attentive to my clients and the essential human elements of a transaction.

Welcome to a new standard in real estate – where your journey is both personally AND AI-guided, ensuring a bespoke modern experience tailored just for you.

Custom Service IS WHAT YOU DESERVE

Amplicity

HOME BUYING PROCESS

Get Pre-Approved Partner with Erin Rose

Search for Homes

Make Offers

DECLINED

OFFER ACCEPTED!

$ Send Earnest Money

Reserve your Moving Company!

Schedule New Home Cleaning, Measurements, Installs, Repairs

Earnest Money goes ‘HARD’ here or sooner

COUNTERED within

24-72 hours!

Review Title Work

Objection/Resolution

$ Inspection Process

Objection/Resolution

Loan Availability?

Objection/Resolution

Lender > Appraisal ($?)

Objection/Resolution

Opt. Review HOA Docs

Objection/Resolution

Get Home Insurance ($)

Objection/Resolution

Final Loan Approval ($)

Objection/Resolution

Review Closing Docs Final Walk-Through Closing Day! Take Posession

Are you agreeing to ‘Post Closing Occupancy’?

GET PRE-APPROVED Start Here - Seasonal Market Education Erin Rose's Home Buying Presentation Top 100 Buyer Questions & Answers Review Colorado Financing & Investing info Interview potential mortgage brokers Submit all required documentation to a lender Apply online and decide what you can afford Send PreA-Approval to Erin Rose PARTNER WITH ERIN ROSE Complete the New Buyer Worksheet Review Ideal Home inventory Review Recent Market Statistics Review Homebuying Net Estimate Sheet Sign the Exclusive Right to Buy Contract Sign Definitions of Working Relationships SEARCH FOR HOMES Review Home Buying Considerations info Create Home Search alerts with your agent Favorite any homes you like with a 'heart' Refine the list and plan a tour of your favorites Schedule home touring day(s) with the agent Decide on your dream home MAKE OFFERS Discuss terms, price, and dates Review Offer Decision Worksheet.

Select a Title Company (or let Seller choose) Sign the Contract to Buy and Sell Real Estate Review Counter Offer -if applicable UNDER CONTRACT Deliver Earnest Money to Title Company ASAP Obtain Earnest Money Receipt Review title work ordered by your agent Select an Insurance Agent Select Home Insurance Policy > send to Lender Review Seller’s Property Disclosure Select Home Inspection(s) & Read Info General Inspection Radon Inspection & Mitigation Info Sewer Scope Well Water Testing/Transfering Details Asbestos Testing Pest Inspection Review Lead-Based Paint Info / Brochure Sign all disclosures​and amendments ASAP Lead-Based Paint Disclosure (1978 & Prior) Square Footage Disclosure Source of Water Disclosure Review HOA Documents Opt - Company Wire Fraud Disclosure If VA Loan: discuss property condition Submit Inspection Objection if applicable Sign Inspection Resolution or withdraw Insp. Obj. Confirm with the lender if OK to order appraisal 3 Days Prior to Closing: finalize loan rates

BEFORE YOU CLOSE Confirm closing date and possession date Certify funds for closing / or wiring information Review Settlement Statement from Title Co Reconfirm closing date/time/location Reserve a moving company Get Wiring Instructions *Beware of wire fraud!

Schedule the final property walk-through Walkthrough: confirm Inspection Res. items SECURELY Wire funds to Title Company CLOSING DAY: WHAT TO BRING Read What to Expect at Closing A printed confirmation of your wire transfer Government-issued photo ID(s) Social Security number(s) Home addresses from the last 10 years Proof of Homeowner's Insurance Your checkbook, even if you are wiring money CLOSING DAY Schedule at least 2 hours (1 hour on average) Sign all Documentation Title transfers /deeds delivered /deal funds Title Co will transfer the water bill Get your keys Congratulations, you are a homeowner!

POST-CLOSING Call Gas/Electric Co > transfer into your name Change your address through the USPS website Rekey the property Watch for refunds for escrowed utility funds Forward mail/packages to previous owners

How to

BUY

A HOME

Obtaining mortgage pre-approval is a straightforward process when you have the right guidance.

Here's how you can get started: 1. Gather Financial Documents Start by collecting essential financial documents such as recent pay stubs, W-2s, tax returns, bank statements, and any outstanding loan information. These documents will provide a clear picture of your financial situation.

2. Choose a Lender Research and select a reputable lender who offers competitive rates and excellent customer service. If you need a referral, just let me know.

3. Complete the Application You'll need to complete a mortgage loan application with the chosen lender. This can often be done online for convenience.

4. Provide Financial Information Be prepared to provide information about your income, assets, debts, and other financial details. The lender will use this information to assess your eligibility.

5. Credit Check The lender will check your credit report and score to evaluate your creditworthiness. This is a hard hit on your credit, so if you are comparing lenders, be sure to have them all pull it at the same time.

6. Wait for Approval The lender will review your application and supporting documents to determine whether you qualify for pre-approval.

7. Receive Your Pre-Approval Letter Once approved, you'll receive a pre-approval letter. This document specifies the loan amount for which you're pre-approved. Please forward that to me when you get it.

Mortgage pre-approval is a valuable tool that empowers you in your home-buying journey. It sets clear boundaries for your search, strengthens your position as a buyer, and gives you the confidence to make informed decisions. However, discuss how much your monthly payment will be based on your max lending potential; you may not want to utilize the full amount.

Ask about our Amplicity Home Buyer Financing Online Prep Course!

How to get a MORTGAGE

PRE-APPROVAL

Before we start the exciting journey of finding your dream home, it's essential to understand your unique needs and preferences.

Priorities and Aspirations What are your primary motivations for buying a home? Is it the desire for more space, a change in location, or a specific lifestyle? We'll uncover your priorities and aspirations to guide our search effectively using the Amplicity Home Buying Considerations Worksheet.

Defining Your Home-Buying Goals Your home-buying journey requires a clear set of prioritized goals.

This conversation will guide us in finding a property that both meets your search criteria and fulfills your aspirations. The Amplicity Home Buying Worksheet will help set a course for success.

Budget and Financing Understanding your financial situation is crucial. We'll work together to establish a budget that aligns with your current financial capabilities and considers your long-term financial goals. Your lender is essential to this conversation as we discover together what monthly payment aligns with your current home investment budget.

The Amplicity Home Investment Strategy Booklet can guide you.

Investment or Lifestyle?

Are you looking for a property that offers long-term investment potential, such as rental income or property appreciation? We'll discuss your investment goals to identify properties that fit your financial strategy. The Amplicity Buyer Net Estimate Sheet will help!

A Personalized Approach

PERFECTED JUST FOR YOU

Now that you have your mortgage pre-approval in hand, it's time to dive into the exciting process of finding your dream home. I’m honored and excited to help guide you every step of the way.

Understanding the Housing Market The real estate market can vary by location and season.

Understanding current market conditions is essential for a successful home search. For up-to-date market information, please join the Amplicity Home Investment Facebook Group where we provide insights into the local market, including trends, neighborhoods, and property values.

Collaborating with Agents Statewide We will work together with an agent in your MLS region to curate a list of potentially perfect properties using the appropriate MLS system.

MLS by Region Next, we'll schedule property viewings that align with your schedule and preferences. For properties outside the Metro Denver area, we can also arrange for Video Tours if that is more convenient initially!

To support you, we offer the Amplicity Showing Guide, Amplicity Home Tour Sheet, and an Amplicity Home Tour Kit, complete with: a link to the Exclusive Right to Buy contract and contract explanation video, a link to easily sign all your documents online, a link to the MLS sheet for each property in the order we view it (printed forms optional), a complimentary gas card, clipboard, folder, pen, car air freshener, hand sanitizer, wet wipes, booties, grip socks, water, healthy snacks, and a bottle of Rose to enjoy when you get home to consider your options!

Other Considerations Everyone has a different order of what they prioritize most. While I try to help with as many suggestions as possible, you must research some things personally.

Walkability Score School Ranking Crimes and Safety Air Quality

Finding YOUR

DREAM HOME

Once you've found a property that you love, it's time to make an offer, and I’m ready and eager to guide you through the process, ensuring that your offer stands out and is competitive in today's market.

Understanding the Offer An offer typically includes the proposed purchase price, earnest money deposit, contingencies, and desired closing date. While we will go over this information together, you can always reference the Amplicity Video Guides for a review of any key points.

Competitive Analysis In order to make a fully researched offer, I will provide you with an Amplicity Home Offer Worksheet, which includes a comparative market analysis, suggested home price offer range, and the highly sought-after Amplicity Competitive Bidding War ‘Additional Provisions’ Suggestion Sheet.

Negotiating the Terms Negotiations may involve counteroffers, increased earnest money, concessions, waived or adjusted deadlines, post-occupancy, or closing fee coverage. Together, we will strategize how to achieve the best terms for you.

Contingencies Common contingencies include satisfactory title work, home inspection, lending availability, appraisal/survey, final financing approval, and a broom-swept clean final walk-through.

Finalizing the Contract The offer becomes a legally binding contract once both parties agree on the terms and all contingencies are met.

For your ease and convenience, you can view and sign your contracts from anywhere you have an internet connection via our cloud-based secure contract portal: CTMeCONTRACTS.

Designing an OFFER & NEGOTIATING TO WIN

Definition and Purpose Earnest money, often referred to as a good faith deposit, is a sum of money a buyer pays to demonstrate their serious interest in a property. This deposit is a crucial part of the home-buying process as it assures the seller of the buyer's commitment to the transaction. It's a key component in the contractual relationship between a buyer and seller, establishing trust and validating the purchase agreement.

How Much and When The amount of earnest money can vary significantly based on the local real estate market and the property's value. Typically, it ranges from 1% to 3% of the home's purchase price. However, a higher deposit might be necessary in highly competitive markets to make your offer stand out. This deposit is usually made when the purchase agreement is signed or shortly thereafter. It's essential to understand the timeline for depositing earnest money, as failing to adhere to these deadlines can jeopardize the transaction or indicate a lack of seriousness about the purchase.

Safekeeping Once deposited, the earnest money is held in an escrow account managed by a neutral third party, such as an escrow agent, title company, or real estate brokerage. This ensures that the funds are protected and only released under agreed-upon conditions. The money is typically applied to your down payment or closing costs upon successful completion of the sale. However, if certain contingencies outlined in the contract, such as a failed home inspection or an inability to secure financing, are not met, the earnest money may be returned to the buyer. Conversely, if a buyer backs out of the deal without a contractually valid reason, the earnest money could be forfeited to the seller as compensation for the breach of agreement and the time the property was off the market.

Title Company: __________________________________________________ Address: ________________________________________________________ URL: ____________________________________________________________ Amount Due: ____________________________________________________ DUE BEFORE: _____________________________ 1-3% of Purchase Price Typically Due within 24-72 HOURS

Deliver the EARNEST MONEY

Understanding the Process Wiring funds to a title company is a common and necessary part of many real estate transactions, especially during the closing phase.

This process involves transferring the required funds electronically from the buyer’s bank account to the title company's account. It's a convenient and efficient way to handle large sums of money, ensuring timely and secure transactions.

Beware of

WIRE FRAUD DISCLOSURE

Ensuring Safe Transactions While wiring funds is generally safe, it's crucial to be vigilant against fraud. Wire transfer fraud in real estate transactions has been on the rise, with scammers using sophisticated methods to intercept and redirect funds.

To safeguard your money, follow these guidelines: Verify Contact Information: Always confirm the title company's contact information through independent and reliable sources.

Do not rely solely on email correspondence, as email accounts can be hacked.

Double-Check Wiring Instructions: Obtain the wiring instructions directly from the title company in person or via a verified phone call. Be cautious of any changes in account information, especially if communicated via email.

Beware of Last-Minute Changes: Scammers often send fraudulent emails mimicking the title company, indicating lastminute changes to wiring instructions. Always verify any changes by calling the title company using a known and trusted phone number.

Secure Communication: Avoid sending sensitive financial information over email. If you must use email, ensure it is encrypted.

Regular Monitoring: After sending funds, monitor your bank account and confirm with the title company that they received the payment. Prompt detection of any discrepancies is crucial.

Brokerage Disclosure to Buyer about Wiring Fraud: As your brokerage, it is our duty to inform you of the potential risks associated with wiring funds in real estate transactions. Wiring fraud is a serious concern, and we urge you to exercise utmost caution. Always verify wiring instructions directly with the title company through secure and verified means. Do not trust changes in wiring details sent via email without verbal confirmation from a known representative of the title company. Our team is committed to assisting you through this process, but it is imperative for you to remain vigilant against fraud to protect your assets.

Should you have any concerns or require assistance, please do not hesitate to contact us.

These documents ensure the legal transfer of property ownership and identify any potential issues that might affect your rights as a property owner. Here's an overview of key title-related documents and what to look out for: Title The title is a legal document proving ownership of the property. It's essential to ensure that the title is clear and free from liens, disputes, or legal questions about the property's ownership.

What to Beware Of: Liens or Encumbrances: These could impede your ownership rights.

Disputes in Ownership: Ensure no disputes or legal issues are associated with the property’s ownership.

Record Title Deadline (and Tax Certificate) The seller must provide the buyer with a record title and tax certificate on this deadline. The tax certificate shows the property's tax status.

What to Look For: Past Due Taxes: Check if there are any unpaid property taxes.

Legal Descriptions: Ensure the property description matches what you are buying.

Off-Record Title Deadline By this deadline, the seller must disclose any known title issues that aren't part of the public record, such as oral agreements or private easements.

What to Beware Of: Private Agreements: Be aware of any non-recorded agreements that could affect your use of the property.

Third Party Right to Purchase/Approve Deadline Some properties have a clause allowing a third party (like a tenant or family member) the right to purchase the property or approve the sale.

What to Beware Of: Third-Party Claims: Verify there are no existing third-party claims that could disrupt the transaction.

Navigating title-related documents requires attention to detail and a clear understanding of legal rights and potential issues. Always consult with a real estate attorney or a title expert to clarify complex issues and ensure your rights are protected in the property purchase.

Understanding TITLE DOCUMENTS

Scheduling Inspections Timely scheduling of home inspections is critical in the home-buying process. Once your offer is accepted, you typically have a limited window (often 5-7 business days) to conduct these inspections.

Prompt scheduling is essential to allow enough time for thorough inspections, analysis of the results, and any necessary negotiations based on the findings. Delaying inspections could jeopardize your ability to negotiate repairs or back out of a deal based on the inspection results. While Sellers are incentivized to accommodate any appointments you may book, some flexibility may be necessary.

As your agent, I will endeavor to adjust my schedule to meet you at the property for the initial walk-through and will connect with your inspector after we receive the report to clarify any important items of discussion that we may need to highlight in our Inspection Objection.

Once you book an appointment, please EMAIL ME your inspection appointment time and your inspector’s contact information so that I can ensure they get permission to access the property and lockbox information.

Types of Inspections and Estimated Costs: As a buyer, you have the right to choose which inspections to conduct on a property. These inspections are at your expense and are paid for upfront. The types and costs of inspections vary, but here are common ones with estimated pricing: General Home Inspection: ($400 - $600) A comprehensive check of the home’s systems and structure. It typically includes an examination of the roof, foundation, electrical systems, plumbing, and HVAC. Radon Inspection: ($150 - $250) Tests for radon gas, which is a health hazard. This is particularly important in areas known for high radon levels.

Sewer Inspection: ($250 - $500) Essential for older homes to check the sewer line's condition and identify potential blockages or damages.

Pest Inspection: ($100 - $200) Checks for signs of pest infestations like termites, which can cause significant damage to the structure.

Roof Inspection: ($200 - $400) Assesses the condition of the roof, identifying potential leaks, damages, or need for replacement. *Ask for Roof Certification options.

Mold Inspection: ($200 - $600) Identifies any mold issues, which can be a health risk and indicate moisture problems.

Well Inspection: ($300 - $500) This inspection tests water quality and the well system for properties with a private well.

Note: Prices can vary based on location, size, and age of the home.

Understanding INSPECTION OPTIONS

Understanding Inspection Outcomes The outcomes of property inspections are pivotal in shaping the course of a real estate transaction.

These outcomes fall into three primary categories: 1. Clean Bill of Health: Inspections may reveal that the property is in excellent condition with minimal or no significant issues. In this scenario, the transaction proceeds as planned, providing peace of mind to both buyer and seller.

2. Negotiations for Repairs: More commonly, inspections uncover some issues, ranging from minor to significant. This necessitates a strategic approach to negotiating repairs or financial credits with the seller.

3. Backing Out: In cases where inspections reveal substantial problems, and if an agreement on repairs or compensation cannot be reached, the buyer has the option to withdraw from the deal. This is typically feasible without any penalty if executed within the inspection contingency period.

Inspection Objection Strategy When inspections identify issues, the buyer must decide how to proceed.

The first step is to file an "inspection objection" with the seller. This document outlines the specific issues and repairs requested.

Prioritizing Major Concerns: Focus on significant issues that affect the property's value, safety, or habitability. Cosmetic or minor issues are less likely to be negotiated.

Professional Consultation: It's advisable to consult with contractors or specialists to understand the severity and cost of the issues. This information is crucial for informed negotiation.

Realistic Requests: Be reasonable in your demands. Requesting too many repairs or high-value credits might derail the negotiation process.

Negotiation and Resolution The seller will respond to the inspection objection, leading to several possible outcomes: Agreeing to Repairs: The seller may agree to fix certain issues before closing. Ensure that these agreements are documented and specify who will perform the repairs and by when.

Offering a Credit: Instead of repairs, the seller might offer a financial credit to the buyer at closing. This allows the buyer to manage repairs post-purchase.

Hybrid Solution: Often, a combination of repairs and credits forms the resolution, addressing both parties' concerns.

Declining the Requests: The seller might refuse to make any concessions, especially in a seller's market. In such cases, the buyer must decide whether to proceed with the purchase or exercise their right to back out.

The INSPECTION OBJECTION & RESOLUTION

If no resolution is reached, you may Terminate the Contract, or Withdraw your Inspection Objection PRIOR to the expiration of the Inspection Resolution deadline.

1. Declaration of Covenants, Conditions, and Restrictions (CC&Rs): This is the core document that outlines the regulations of the community. It covers everything from architectural controls to noise policies.

2. Bylaws: The bylaws detail the HOA's operating procedures, including how the HOA is run, the role of the board of directors, meeting procedures, and voting rights.

3. Financial Statements and Budget: Review the HOA's financial health, including its budget, income, expenses, and reserve funds. Pay special attention to: Reserve Funds: Check how much money is in the reserve fund. A well-funded reserve is essential for covering significant future expenses without imposing special assessments on homeowners.

Regular Assessments: Understand the regular fees you will need to pay as a homeowner and what these fees cover.

Key Areas to Focus On Common Area Maintenance and Costs: Determine what common areas exist (such as pools, gyms, and parks) and who is responsible for their maintenance. Generally, the HOA is responsible, with costs covered by homeowners' fees.

Restrictions on Property Use: Look for any restrictions on what yo can do with your property. This may include rules about painting, renovations, or additions.

Storage and Parking Rules: Understand what can or cannot be stored on your property and any parking regulations. This includes rules about RVs, boats, and additional vehicles.

Landscaping and Exterior Appearance: HOAs often have guidelines on landscaping and the exterior appearance of homes to maintain a uniform look in the community.

Pet Policies: If you have pets, review any restrictions regarding types, sizes, or breeds of pets allowed.

Snow Removal and Other Services: Check the policy on snow removal, trash collection, and other essential services.

Understand if these are covered by the HOA and the level of service to expect.

Insurance Coverage: Determine what insurance the HOA carries and what homeowners are responsible for. This often includes a master policy covering common areas and individual policies for private homes.

Reviewing HOA documents is a critical step in the home-buying process. It ensures you are fully aware of living in an HOA-governed community's rules, financial obligations, and restrictions.

Reviewing HOA

DOCUMENTS

If no resolution is reached, you may Terminate the Contract, or Withdraw your Inspection Objection PRIOR to the expiration of the Inspection Resolution deadline.

Purpose and Process: The appraisal is a critical component of the home buying process, primarily serving the lender's interests. Its primary purpose is to ascertain the property's fair market value, ensuring that the lender does not provide a loan exceeding the property's worth.

1. Ordering the Appraisal: Once your loan application is accepted, the lender will typically order the appraisal. This is to ensure that the loan amount requested is appropriate for the value of the home.

2. Appraiser's Role: The appraiser is an independent professional who assesses the property objectively. They inspect the property, considering various aspects like structural integrity, the state of the property, amenities, and even the neighborhood.

3. Appraisal Report: After the evaluation, the appraiser compiles a report detailing their findings and the property's estimated value.

This report is critical for the lender to finalize the mortgage loan amount.

Dealing with Appraisal Issues: Sometimes, the appraisal value may come in lower than the agreed purchase price, leading to potential challenges: 1. Negotiating the Price: If the appraisal is lower than the purchase price, you have the option to renegotiate the price with the seller.

Sellers are sometimes willing to lower the price to the appraised value, especially if the appraisal is considered accurate and the market conditions support it.

2. Challenging the Appraisal: If you believe the appraisal is incorrect or missing key value-adding features of the property, you can challenge the appraisal. This involves providing additional information or comparable sales data that the appraiser might have overlooked.

3. Making Up the Difference: If renegotiating the price is not an option, and you still want to proceed with the purchase, you may need to cover the difference between the loan amount and the purchase price. This means you will have to bring more cash to the closing.

4. Backing Out of the Deal: If none of the above solutions are feasible and your purchase contract has an appraisal contingency, you may choose to back out of the deal. This contingency allows you to withdraw without penalty if the appraisal comes in below the purchase price.

Understanding APPRAISAL OBJECTION & RESOLUTION

Choosing a Policy Selecting the right home insurance policy is a crucial step in the home-buying process. Home insurance provides peace of mind and is a requirement by most lenders before approving a mortgage.

1. Assess Your Coverage Needs: Consider the specific risks associated with your home's location, such as flooding, earthquakes, or high crime rates. Ensure that your policy covers these risks.

2. Understand Policy Types: Familiarize yourself with different types of home insurance policies. The most common is the HO-3 policy, which covers your home against all perils except those explicitly excluded.

3. Check Coverage Limits: Ensure the policy’s coverage limits are sufficient to rebuild your home in case of total loss. This amount should be based on construction costs, not the home's market value.

4. Review Deductibles: A deductible is the amount you pay out of pocket before insurance kicks in. Higher deductibles typically mean lower premiums, but ensure the deductible is affordable for you.

5. Inquire About Discounts: Many insurers offer discounts for features that reduce the risk of damage or theft, like security systems, smoke detectors, or bundling with other insurance policies.

6. Read the Fine Print: Understand what is and isn’t covered. For instance, standard policies often exclude flood or earthquake damage.

7. Compare Quotes: Get quotes from several insurers and compare their coverage, limits, deductibles, and premiums. Consider the insurer's reputation and customer service record.

Insurance and Mortgages are intrinsically linked 1. Lender’s Requirement: Lenders require proof of home insurance before finalizing the mortgage. This is to ensure their investment (your home) is protected against damage or loss.

2. Escrow Accounts: Often, lenders will include your insurance premium in your monthly mortgage payment, placing the funds in an escrow account and paying the premium on your behalf. This ensures continuous coverage.

3. Impact on Loan Approval: The cost of home insurance can affect your loan approval. When evaluating your loan application, lenders consider the total housing cost, including insurance.

4. Policy Beneficiary: The policy must list your lender as a beneficiary.

This means that in the event of a claim, your lender will be compensated for any losses related to the property's structure.

5. Continuation of Policy: You must maintain home insurance for the life of your mortgage. Letting your insurance lapse can lead to serious consequences, including potential loan default.

Choosing the right home insurance policy is not just a legal or lender requirement but a critical aspect of protecting your investment in your home.

Understanding INSURANCE OBJECTION & RESOLUTION

Finalizing the Mortgage Finalizing your mortgage is one of the last steps in your journey to homeownership. It involves a series of steps and the submission of various documents to ensure that you are financially capable of maintaining the mortgage.

1. Loan Processing: After your initial application, the loan goes into processing, where the lender verifies all the information you've provided. This includes your employment history, credit score, and financial assets.

2. Submission of Additional Documentation: Be prepared to provide additional documentation if requested. This could include recent bank statements, pay stubs, proof of insurance, and any other documents that can help establish your financial stability.

3. Underwriting: During underwriting, the lender assesses your creditworthiness and the risk of lending to you. The underwriter will review your financial documents and may request further clarification or additional documentation.

4. Appraisal Review: The lender will review the appraisal report to ensure the property’s value aligns with the loan amount.

5. Final Approval: Once all verifications are complete and the underwriter is satisfied, you'll receive final loan approval. This means the lender is committed to funding your loan, subject to the terms and conditions of the mortgage agreement.

6. Closing Disclosure Review: You'll receive a Closing Disclosure before closing. This document outlines the final terms of your loan, including the interest rate, monthly payments, and closing costs. You'll have at least three days to review this document before closing.

7. Closing: You'll sign the mortgage and other related documents at closing. After this, the loan funds are disbursed, and you become the official owner of the property.

Loan Contingency A loan contingency clause in the purchase contract states that the transaction is contingent upon securing financing.

1. Protection for the Buyer: If you're unable to secure a mortgage, you can back out of the contract without penalty, typically within a specified timeframe.

2. Timeframe: The contingency period is usually set for specific days.

During this time, you must secure financing. If you cannot obtain a loan within this period, you can either request an extension, renegotiate terms, or withdraw from the purchase.

3. Implications of Final Loan Approval: Final loan approval signals the completion of one of the critical steps in the home buying process. It means you have passed all the financial checks and balances, and the lender is confident in your ability to repay the loan.

Understanding LOAN APPROVAL

Understanding Documents The closing of a home purchase involves a comprehensive review of various legal and financial documents. It's crucial to understand these documents to ensure a smooth transaction.

Closing Disclosure: This is a detailed statement of the final loan terms, monthly payments, and closing costs. Review this document carefully to ensure it matches the Loan Estimate and that you understand all charges.

Title and Deed: The title document confirms the property's legal ownership. Ensure the title is clear of liens or disputes. The deed transfers property ownership from the seller to you.

Bill of Sale: This outlines all property being transferred, including appliances and fixtures, if applicable.

Loan Documents: These include your mortgage note, which is your promise to repay the loan, and a mortgage or deed of trust, which secures the note.

Settlement Statement (HUD-1 or ALTA): This itemizes all costs and credits to the buyer and seller. Review this to understand all transaction costs.

Homeowners Insurance Policy: This confirms that you have adequate insurance, a requirement of most lenders.

Property Tax and Utility Receipts: These documents show up-todate taxes and utility bills.

Closing DOCUMENT REVIEW

During the review of closing documents, it's important to ask questions to clarify any uncertainties.

Consider the following questions: Are the loan terms and interest rate as agreed upon?

Are there any discrepancies in the closing costs or fees listed on the Closing Disclosure compared to the initial Loan Estimate?

Is the title to the property clear, and are there any easements or encroachments on the property?

What are the monthly payment details, including principal, interest, taxes, insurance, and any homeowners association fees?

Are the property boundaries as expected, and do they match the property survey?

What warranties or guarantees are provided on the property and appliances?

How are property taxes being handled, and are any adjustments required at closing?

What are the specific terms of the mortgage note, including the penalties for late payments?

Is the homeowner's insurance policy active from the day of closing, and what does it cover?

Are there any outstanding utility bills or homeowner association dues that need to be paid at closing?

Questions TO ASK AT CLOSING

As you approach the closing day of your home purchase, it's essential to be well-prepared. This phase involves confirming several details and completing key tasks to ensure a smooth transition.

Here's a comprehensive checklist to guide you through the final steps before closing: Confirm Closing Date/Time/Location and Possession Date: Double-check the agreed-upon closing date/time/location and the date when you will take possession of the property.

Certify Funds for Closing / Wiring Information: Ensure that your funds for closing are ready. If you're wiring funds, obtain the necessary information and understand the process.

Review Settlement Statement from Title Company: Carefully go over the settlement statement (HUD-1 or ALTA) provided by the title company, which outlines your final costs.

Reserve a Moving Company: If you plan to move in soon after closing, now is the time to reserve a moving company.

Get Wiring Instructions - Beware of Wire Fraud!: Obtain wiring instructions for the closing funds. Be extremely cautious of wire fraud and verify all instructions directly with the title company.

Schedule the Final Property Walk-Through: Arrange for a final walk-through of the property, typically a day before or the day of closing.

Confirm Inspection Resolution Items: During the walk-through, ensure that all agreed-upon repairs or resolutions from the home inspection have been completed.

Securely Wire Funds to Title Company: Proceed with wiring the funds to the title company, following all security protocols to avoid fraud.

Closing DAY

PREPARATION

What to Bring On the day of closing, ensure you have the following with you: A Printed Confirmation of Your Wire Transfer: Bring this as proof of the transfer, if applicable.

Government-Issued Photo ID(s): Essential for verifying your identity.

Social Security Number(s): Typically required for paperwork.

Home Addresses from the Last 10 Years: Sometimes needed for background checks or documentation.

Proof of Homeowner's Insurance: Confirm that you have insurance in place as of the closing date.

Your Checkbook: Even if you're wiring funds, having your checkbook for any unforeseen expenses is a good idea.

Closing Day Schedule at Least 2 Hours: On average, closing takes about an hour, but it's wise to allocate at least two hours for the process.

Sign all Documentation: You will be signing various legal documents, including the mortgage and property transfer documents.

Title Transfers/Deeds Delivered/Deal Funds: The title company will facilitate the transfer of the title, deliver the deeds, and handle the funds.

Title Company Will Transfer the Water Bill: This is usually handled by the title company as part of the closing process.

Get Your Keys: Once all the paperwork is signed and funds are exchanged, you will receive the keys to your new home.

Congratulations, You Are a Homeowner!

Closing DAY

____________________

After closing, it's important to take some practical steps to ensure a smooth transition into your new property. Be prepared for a range of conditions on a moving day, as not all sellers transfer the property in the same condition - as per the contract, it is only required to be ‘broom swept’ / not mopped, shined, etc. - so don’t expect it to be spotless.

Property Condition Expect Variations: Understand that the home only needs to be in the same condition as when you went under contract, minus personal items and any staging.

Consider Professional Cleaning: You might want to schedule a cleaning service before moving in, especially for a thorough cleaning of carpets, kitchens, and bathrooms.

Home Maintenance Tips HVAC Maintenance: Plan to clean the HVAC system (estimated cost varies by region but can be around $100-$700). This ensures the system is efficient and clean before you start using it.

Replace Filters: Change out filters in key areas of the home, including the refrigerator water filter, dishwasher, dryer vent, and HVAC system. This small step can improve the efficiency and longevity of your appliances.

Privacy and Security Doorbell Cameras: If a doorbell camera, like a Ring, is left behind, either reset it for your use or remove it to ensure privacy.

Utility and Address Changes Transfer Utilities: Contact the gas/electric companies to transfer services into your name. This is typically a straightforward process and can often be done online or over the phone.

Change Your Address: Update your address through the USPS website to ensure you receive your mail at your new home.

Monitor for Refunds: Keep an eye out for any refunds from utility companies, especially if utilities were escrowed.

Forward Mail/Packages: For any mail or packages that arrive for the previous owners, have a plan to forward them or return them to the sender. This common courtesy helps maintain good relations with the former owners.

Possession DAY

MAY HAVE SOME SURPRISES

Even after closing, Amplicity is here to support you.

We can assist with: Home Warranty: Discussing options for protecting your investment.

Future Needs: Planning for any renovations or updates you have in mind.

Your Amplicity Agent's Role Throughout the closing process, your dedicated Amplicity agent will be your advocate, ensuring that all the steps are taken to make your home purchase as smooth as possible.

The journey has been exciting, and Amplicity Real Estate Agency is honored to have been a part of it. We're here to help you settle into your new abode and to provide any ongoing support you may need. If you have any questions or need help at any point in the process, please don't hesitate to contact your Amplicity agent.

Thank you for choosing an Amplicity agent for your home-buying journey.

Welcome

HOME

HOME-OWNER!!!

Making your

HOUSE A HOME

Congratulations on becoming a homeowner!

Now that you've closed the deal, it's time to settle into your new abode and make it truly yours. Here are some steps to help you get started: 1. Change the Locks For peace of mind and security, consider changing the locks on all exterior doors. You never know who might have a spare key from the previous owner.

2. Deep Clean Before moving in your furniture and belongings, thoroughly clean your new home. It's much easier to clean an empty space, and you'll start with a fresh slate.

3. Utilities and Services Make sure to transfer or set up utilities in your name, including electricity, gas, water, and trash removal. Don't forget to arrange for internet, cable, or any other essential services you use.

4. Home Inspection Review the home inspection report one more time. While you may have negotiated repairs during the closing process, it's a good idea to doublecheck that everything was addressed.

5. Plan for Renovations or Updates If you plan renovations or updates, now is the time to start organizing.

Create a timeline and budget for your projects.

6. Safety First Test carbon monoxide detectors, smoke detectors, and fire extinguishers to ensure your home is safe.

7. Meet the Neighbors Introduce yourself to your new neighbors. Building positive relationships with those around you can make your community feel like home.

8. Explore Your Neighborhood Get to know your new neighborhood by taking walks, trying local restaurants, and exploring nearby parks and amenities.

9. Home Maintenance Create a maintenance schedule to keep your home in top condition.

Regular maintenance can help prevent costly repairs down the road.

10. Personal Touches Add personal touches to your home to make it uniquely yours. Whether it's artwork, family photos, or furniture, infuse your style into every room.

Testimonials

"Erin deserves way more than 5 stars! I met Erin about a year ago when I was preparing for an out-of-area move - from Colorado to Maryland. My "great downsizing person" recommended Erin after working with her on another widow's home sale. Erin was sensitive and caring to me, my son. She even helped me pack and recommended excellent movers. It was even more revealing of who she was after my place was flooded 2 days after I moved. Erin met with my contractor during the rebuild (helping with colors and materials). She made many great recommendations for the sale of my home, including timing and price. The place sold swiftly and for much more than we anticipated. Erin marketed and did the best publicity with very good communication the whole way through the process. I totally trusted Erin's knowledge and clarity of the challenging market. Erin's such an amazing person with years of experience."

Carol V, Retired "Erin helped my wife, me, and my growing family find our house in the middle of Covid in 2020, followed very shortly by helping my mother relocate to be closer to us. Throughout both purchases, she was kind, considerate of our unique needs (a baby on the way in one case and mobility issues in the other), and at every turn, went above and beyond to ensure we were in the right houses in our budgets. As first-time homebuyers, she held our hands through the whole process and advocated for us every step of the way. We couldn't possibly have asked for a better Realtor!"

Andrew Nease, Videographer "When it came time to purchase a home, my husband Carlos and I met with Erin to review her process and get a feel for her style as a realtor. We also met with other realtors as well. In the end, we decided that Erin was our best choice, and she proved us right! Erin explained things to us as first-time home buyers in a way that made sense. She helped us search for a home we loved, always keeping in mind the important things that were important to Carlos and me. The day that we found our home and placed an offer on it was the same day that my brother passed away unexpectedly. Erin understood that I was experiencing extreme grief and did all that she could to make the process of home buying as stress-free as possible. We were so grateful to have her in our corner. Along the way, Erin was responsive, knowledgeable, and transparent. We highly recommend Erin as a realtor! She truly cares about her clients, and it shows! We could not have asked for a better experience than we had with Erin."

Irene Sisneros, Social Worker "My husband and I heard about Erin through a friend. We were so glad we went with her to sell our townhouse and buy our future family home. Erin is incredibly knowledgeable, patient, and kind. We are certain that we were able to win our dream home due to Erin's drive and hard work. We will 1000% use Erin again if we change homes. You will not regret making the choice to use Erin as your realtor!”

Leah Hudson, Teacher “Erin Rose found me a great house and sold my last one for more than I expected. She works hard, is smart, and gets results. I highly recommend.”

Darrin Lingle, IT Specialist" I've used Erin to list and sell two properties, one in Boulder and one in The Highlands. She has found two other properties, one in Denver and our current home in Lafayette. She was always responsive to my inquiries and diplomatic when she pointed out errors in my thinking, and it seemed she worked 24/7. I will use her again and would highly recommend her to anyone looking to list or buy a home."

Richard Norris, Recruiter