Elizabeth Fabian by Cynthia Hogarth BROKER ASSOCIATE WK Real Estate M: www.Cynthia.wkre.comchogarth@wkre.com303.579.4884 Buyer’s Guide THIS PRESENTATION HAS BEEN PREPARED FOR:
Established in 1976, WK Real Estate is the largest independently owned, full-service real estate company in Boulder County. From our inception, we have been committed to helping residential, corporate and commercial clients find the perfect property. Our brokers are chosen for their proven expertise, deep knowledge of Boulder County and beyond, and unwavering passion for connecting people with the right properties and the best resources.
Welcome to WK Real Estate What’s your passion? At WK Real Estate, that’s an easy question to answer. While some say our industry is about buying and selling houses, we believe it’s about finding and creating new homes. That’s our passion. And for more than 45 years, it has been the driving force behind everything we do.
ABOUT
WK Real Estate blends the best of big firms and boutique agencies, delivering world-class service with a personal touch. We boast an extensive international network, integration of the most current technology, and membership in many of the industry’s most prestigious organizations. WK Real Estate has an outstanding reputation for marketing distinguished properties, and for sales professionals who offer specialties in residential, mountain, farm and ranch locations in Boulder, Longmont and the surrounding communities. We also proudly maintain an international real estate presence through our strategic alliances. We invite you to read on to learn more about us and how we can help you. When it comes to real estate, we prove that you can have it all.
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ABOUT AtMissionWKRealEstate, our mission is to stimulate the quality of life in Boulder and surrounding counties through real estate. Our clients are our primary focus. We work tirelessly to meet and exceed your expectations.
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WK Real Estate was built on 5 core principles. We embrace these values every day with passion and energy.
WK Real Estate’s adherence to these principles is continually revealed though our unparalleled personal service and a nurturing business environment that promotes long-term financial success. We are leaders in the communities we serve and live in. The spirit of giving back is fundamental to everything we do. In fact, our agents annually participate in more than 100 volunteer events and organizations. ation dA c R e
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ABOUT | Our Team
Our Brokers WK Real Estate seeks out the best and brightest brokers around. Our agents average more than 15 years of experience in real estate. They come from diverse backgrounds and draw on a wealth of knowledge. We encourage a culture of collaboration. Our agents rely on their colleagues to ensure the needs of every client are met. When it’s all said and done, what you give back matters most. This is a guiding principle at WK Real Estate. Our roots run deep in the communities we serve. Our agents see the big picture and actively work to make the world a better place for their
The WK Real Estate Team As an independently owned company, WK Real Estate takes great pride in providing highly personalized service to lifetime clients. That commitment begins and ends with an impressive team of smart, seasoned agents.
The WK Real Estate Team (continued) ABOUT | Our Team
The WK Real Estate Leadership Team No real estate company in Boulder County can match the combined experience of the WK Real Estate Leadership Team. Chairman and founding partner Lew Kingdom is a Certified Residential Specialist (CRS) and a Certified Real Estate Broker Manager (CRB), and has earned National Association Realtor's Green Designation (GREEN). President Dan Kingdom has been recognized as Realtor® of the Year and has also logged two terms as Director for the Colorado Association of Realtors (CAR). Executive Vice President, Kari Newman brings a wealth of real estate knowledge being a graduate from the Realtor® Institute (GRI) and over 18 years of sales and management experience. Our Marketing Team WK Real Estate has established itself as a leader when it comes to effective, targeted marketing. Our easy-to-use (www.wkre.com)websitefeaturescutting-edgetechnologythatshowcasespropertiesofallshapesandsizes.Inaddition,
the WK Real Estate Marketing Team includes specialists devoted to Social Media and Digital Marketing.
Our Relocation Team WK Real Estate has been in the relocation business for more than 30 years, longer than anyone else in the area. In fact, we are the only agency in Boulder County to have a Certified Relocation Professional (CRP) on staff and a team dedicated specifically to this segment of the industry.
Our Support Team WK Real Estate is one of the few agencies in Boulder County that employs a full-time support team, including a Front Desk Coordinator, Graphic Designer, Showing Coordinators and Transaction Coordinators. This added layer of administrative support allows our agents to focus on the things they do best, while making the buying and selling process easier and more efficient for our clients.
About Cynthia BROKER ASSOCIATE
Being involved with and investing in the Boulder community is always on the forefront of Cynthia's mind. She is a member of the National Association of REALTORS®, the Colorado Association of REALTORS® and Boulder Area REALTORS® Association. In addition, she has given time to serve on the board of YWCA of Boulder and volunteered with Habitat for Humanity and other non profit organizations in the area.
Cynthia particularly invests time working with families and individuals in the 55+ housing market, using her specialty designation as a Senior Real Estate Specialist (SRES) to offer unparalleled advice and guidance to these clients. Her experience working at a senior community coupled with a Bachelor of Science Degree in Psychology and a minor in Business Administration has given her a unique edge to better serve her clients.
Cynthia Hogarth, SRES BROKER ASSOCIATE cynthia.wkre.comchogarth@720.564.6035303.579.4884wkre.com
FIND ME WKRE.COMAT wkre.com/our_agents
As a Boulder resident for almost 30 years, Cynthia's extensive knowledge of the real estate market and community stretches from Boulder County to the central and northwest Denver Metro Area. Whether her clients are first time buyers, seasoned investors, or looking to downsize, Cynthia's goal is to facilitate her clients' real estate dreams. She knows that these real estate dreams are made a reality through trust, solid relationships, and clear communication between her and her clients. Building and maintaining strong relationships is paramount to both Cynthia's personal life and business. Her consultative style focuses on carefully listening to her clients' needs so she can guide them through their home buying or selling process.
In 1990, Boulder County became her home while she worked in luxury merchandise sales and as a sales consultant at one of Boulder County's largest senior living communities. Whether Cynthia is hiking or skiing, she feels most at home in "her" Colorado mountains. You can also find her enjoying yoga, music, and theater, or singing in the Boulder Community Choir, Generations.
Growing up, Cynthia fell in love with Colorado visiting family in the Colorado Springs and Denver area. Following college graduation, she moved to Denver and worked in the mortgage banking industry.
ABOUT 36 6 36 36 343434 85 85 85 287 287 470 93 119 93 58 119 119 52 72 7 7 7 7 7 66 25 25 76 76 70 70 70 70 70 270 BOULDER COUNT Y Loveland Lyons Nederland EldoradoSprings FirestoneJohnstownBerthoud Longmont Boulder Jamestown Allens ParkEstes Park DaconoFrederick Fort PlattevilleLuptonGreeley Lafayette Brighton Broomfield InternationalDenverAirport Niwot Erie Mead SuperiorLouisville ThorntonCommerce CityArvadWestminstera Evergreen Lakewood Golden Denver Glendale Eldora Hygiene Ward KEY WK Real Estate Office Primary areas served by WK Real Estate Boulder County & Beyond WK Real Estate serves clients all over the greater Front Range area and Metro Denver. We maintain offices in Boulder and Longmont, but our reach extends far beyond that, including Arvada, Berthoud, Broomfield, Dacono, Denver, Eldora, Eldorado Springs, Erie, Firestone, Fort Lupton, Frederick, Golden, Hygiene, Jamestown, Lafayette, Louisville, Loveland, Lyons, Mead, Nederland, Niwot, Superior, Thornton, Ward and Westminster.
ABOUT
WK Real Estate’s affiliation with LeadingRE is of great benefit to our clients. For clients moving out of state, LeadingRE’s website features powerful search tools that allow you to view homes in locations all over the country and around the world. of the World®
Keller ColdwellWilliamsBanker Berkshire Hathaway HomeServicesCompassRE/MAX Sotheby’s International Realty eXp RedfinRealty DouglasHomesmartCenturyElliman21Corcoran Better Homes and GardensERA $257 $219 $187 $91 $91 $85 $78 $36 $31 $29 $29 $17 $16 $13 $10 Volume shown in billions of dollars. This bar chart is sourced from REAL Trends 500 for 2019, realtrends.com. More US Home Sales Volume than any National Real Estate Brand
LeadingRE's headquarters are in Chicago, with international offices in London and Singapore. It boasts more sales among the top 500 brokerages than any other real estate network. Training Magazine has recognized its awardwinning learning platform, Leading RE Institute, multiple times. WK Real Estate takes great pride in being one of a select group of companies to earn the Website Quality Certification from LeadingRE, a designation that highlights high achievement in online design and functionality.
Leading Real Estate Companies of the World®
Leading Real Estate Companies
WK Real Estate's reach is truly global, thanks in part to our membership in the Leading Real Estate Companies of the World ® (LeadingRE), an invitation-only network of more than 565 agencies in more than 70 countries around the globe. In total, LeadingRE accounts for more than $372 billion in sales volume, and its members have the #1 market share in more top markets than any other real estate network.
Relocation Services
DIANA CARDENAS, LRS, GRP Relocation & Referral Coordinator Services We offer an extensive array of services to both individuals and corporations, including: Personalized Client Needs Relocation Current Market - Local and Settling-In Temporary Housing
ABOUT
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WK Real Estate is consistently recognized and awarded for our outstanding work and contributions to the Leading Real Estate Companies of the World® network. WK’s Relocation Department proudly holds the RELO Quality Certification® (RQC). Currently only 27 of the 565 firms in the worldwide network have been awarded this most prestigious certification. Modeled after the Malcolm Baldrige National Quality Award, the RQC was created by LeadingRE to provide measurable standards for the pursuit of relocation excellence. WK Real Estate is currently the only firm in the North Metro Denver, Boulder and Northern Colorado area to have been awarded this prestigious Withcredential.over30 years of combined relocation and real estate experience, WK’s Relocation Department is the area’s most experienced and only full-time team. WK Relocation is a recognized leader in individual and corporate relocation services. Additionally, our VP Corporate Services & Relocation is the area’s only Certified Relocation Professional®, accredited by the Worldwide Employee Relocation Council®.
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WK Real Estate was the first Boulder County company to recognize the specialized services and support that relocating clients require. To address this need, in 1987 we formed our Relocation Department with staff and associates who have the relevant knowledge and necessary skill sets. We have since worked with thousands of individuals as well as local and national corporations to ease the transition of relocating in or out of the We’rearea.Local, We’re Global As an affiliate of Leading Real Estate Companies of the World®, our brokerage is a local and global market leader working on your behalf. Through world-class resources and connections, LeadingRE and our award-winning Relocation Department work together to provide our clients with truly exceptional real estate experiences anywhere in the world.
Assessment P Customized
Departure Location P Household Goods Move Referrals P
Services P Rental Assistance P
Materials P Area Orientation Tours P Cost of Living Analysis P Home Finding P
Our Full-time Relocation Team - Experienced Professionals
PAM METZGER, CRP, GDS, GRP Vice President, Corporate Services & Relocation
P Relocation Policy Consultation
ABOUT | Luxury
Some of the advantages of this affiliation are:
P An average of 3 million high net worth visitors annually to luxuryportfolio.com
P More listings over $1 million than any other network or franchise
P More than $58 billion in global luxury properties on 6 continents
Luxury Real Estate Among our strengths at WK Real Estate is the marketing and sale of luxury homes. As a founding member of Luxury Portfolio International®, we are the local leader in an exclusive network of the world’s most experienced and respected experts in luxury real estate.
P More than 58 million affluent consumers targeted through integrated marketing
Luxury Portfolio International® is the luxury face of Leading Real Estate Companies of the World®, and gives our listings exposure t0 the largest audience possible outside of our local market.
P More #1 market share firms in major U.S. cities than any other network or franchise
Luxury Portfolio International® utilizes a mix of online media tools and traditional publishing venues to position homes to receive maximum exposure. More than 50,000 properties were featured last year in Luxury Portfolio International’s global publications and on its award-winning website, www.LuxuryPortfolio.com.
ABOUT | Luxury Through our relationship with Luxury Portfolio International®, WK Real Estate provides your distinctive property with unprecedented measurable exposure to a global audience, including: P Affiliate websites such as WallStreetJournal.com, MansionGlobal.com, Juwai.com, CountryLife.co.uk, LeadingRe.com, and Barrons.com P Innovative online media tools P Traditional publishing venues such as the Wall Street Journal, Unique Homes, LUXE Interiors + Design, International Property & Travel, FOUR, Financial Times and Yachts International P Exclusive Luxury Portfolio International magazine P Award-winning Luxury Portfolio International® website that reaches consumers from more than 200 countries each month Some of the publications that feature Luxury Portfolio International properties. Luxury Brochure Sample
Service for Buyers At WK Real Estate, our goal is to be your Realtor® for life. When you choose a WK Real Estate agent to help you find a new home, you are getting a skilled and knowledgeable associate who will always look out for your best interests. When we make a commitment to you as a client, we pledge the following: Earn Your Trust P Understand your criteria. P Share our knowledge. P Locate matching properties. P Use your time efficiently. Provide Guidance After You Find the Right Home P Walk you through offers, negotiations and purchasing steps. P Review paperwork to ensure it’s complete and accurate. P Streamline all transactions with timely communication. Create a Stress-Free Closing P Coordinate with the title company, lender and seller’s agent. P Accompany you to the closing to offer advice as needed. Be Available After Closing P Answer any questions regarding your new home. P Provide assistance for future real estate needs. BUYER’S GUIDE
BUYER’S GUIDE The Home Buying Process Interview with Realtor Search/View Property Submit Offer Contract Accepted Mortgage Company Property InspectionInspectionResolutionTitleSearchClosingReadiness*ClosingPossession ServicesRelationshipExpectations LoanUnderwritingPre-ApprovalLenderLoanApplicationGatherDocumentsDocumentVerificationApproval CreditNegotiationWantsNeedsReportPropertyInsurabilityBlueboxes are prewritten contingencies in the contract DocumentsHOAWalkThrough CounterRejectedProposalAcceptedPropertyAppraisalDueDiligenceDocumentsPropertySurveyFinalLoanDocuments Seven * Be fully prepared to close no later than seven days prior to the closing date stated in the buy/sell contract. This is necessary to ensure your lender can provide you the final loan documents and disclosures within the time period required by law.
Earnest Money Increase the Earnest Money amount you will deposit to the Title Company Make your Earnest Money “HARD” after a period of time (usually after completion of satisfactory Inspection (resolution if applicable). Examples of verbiage in contract: “Buyer agrees that upon successful completion of inspection resolution, $6,000 of the $12,000 Earnest Money will become immediately nonrefundable.” “Buyer agrees that upon completion of Inspection Termination deadline, the Earnest Money will become immediately non refundable.”
Inspection Objection One of the biggest and most common clauses added to the contract to make your offer stand out.
The following are tips are some creative ways to make your offer stand out in this competitive market. Ultimately, this depends on your comfort level and financial situation.
Buyers agree to accept the property “as is” unless structural, health or safety items are found on the inspection report. “Buyer hereby acknowledges that the inspection pursuant to Section 10.3. will be for the purpose of determining the condition of the major components and environmental safety of the Property so that Buyer can make a knowledgeable decision to buy and the inspection is not for the purpose of establishing a list of cosmetic repairs for the Seller to perform.”
Example of verbiage in the contract: List price is $500, your offer is $510k with escalation up to $525K “Buyers will offer $1,000 over the highest verified bona fide offer received by Seller, not to exceed a total offer price of $525,000. Seller agrees to provide Buyer’s Agent a copy of such bona fide offer.”
Examples of verbiage in contract: Buyer agrees to accept the property in “as is” condition, however reserves the right to an inspection. Inspection objection and inspection resolution deadlines are removed from the contract.” (Inspection Termination deadline remains in the contract)
Offer Over the Appraised Value Once under contract, your lender will order an appraisal, which is an unbiased professional opinion of the value of a home and is used when a mortgage is involved in the buying, refinancing or selling of a property. Your bank will only issue a loan up to the appraised value. If you’re significantly overpaying for the property, it’s safe to assume your appraisal may come in lower than your offer. If you are in a multiple offer situation and you’re offering more than the list price, it is advised to include Appraisal GAP verbiage into your contract to ensure the seller you will not try to negotiate the price afterwards. Appraisal gap coverage is agreeing to cover any shortage between the offer price and the appraised value. Any difference is due at closing in cash funds.
Multiple Offer Solutions
Price PointHighest and best offer is the name of the game in this market DO YOUR BEST!
Escalation Clause not always allowed by the listing agent. In theory it says “I will pay X price for this home, but if the seller receives another offer that is higher than mine, I’m willing to increase my offer to Y price”
Multiple Offer Solutions
“Should the Value of the Property be less than the Final Contracted Price, Buyer Agrees to make up any difference between Contracted Price and Appraised Value, in the form of Cash Funds at Closing.”
Examples of verbiage in contract: List price $800k, you offered $830K
Include a Post Occupancy Agreement allowing the seller to stay up to 30 days rent free. Buyer Pays for Title Insurance
If you the Buyer are flexible on closing and possession date, this could weigh heavily in your favor. Post Occupancy allows the seller to make an easy and smooth transition to their new home.
If you have extra funds available, you can offer to pay for the Seller’s Title Insurance. This can be up to $3K, depending on the purchase price of the home, etc. This is not common as the clauses above, however is appreciated and can you help you win the deal.
These are general ideas to consider. Of course each property, buyer and seller are unique, presenting different scenarios. I hope this information is helpful. Please let me know if you have questions or need clarification.
Examples of verbiage in contract: Buyer Selects Title Insurance Company to furnish the owner’s title insurance policy at Buyer’s expense.
Minimize Financing Concerns
Accommodating Closing and Possession Date
Buyer, at Closing, will credit an amount of $3,000 to assist with any or all of Seller’s closing cost.
If you are financially strong and getting a loan is not a question, consider waving the loan contingency from the contract. By removing the Loan Termination deadline from the contract, you are waiving your very last option to terminate due to Financing issues. Remember, in case you lose your job or the underwriter finds some last minute flaws in your loan, you can lose your Earnest Money.
Offer Over the Appraised Value (cont.)
BUYER’S GUIDE Mortgage Basics
For many people, buying a home is the single biggest financial decision of their lives. Choosing a lender is a crucial part of that process.
At WK Real Estate, we work with our clients to make getting a mortgage as easy and simple as possible. WK Real Estate has its own preferred lending partner — Cherry Creek Mortgage — which operates out of our Boulder office, but should you prefer to secure a mortgage on your own, here are some helpful tips to keep in mind: Find a lender that fits your needs and personal style. Remember that you are building a relationship with your lender. Don’t select one based solely on rates and fees. Compare apples to apples. The more accurate and detailed the information a lender has regarding your financial situation, the more accurate and detailed the rate quote. In general, the higher the risk, the higher the rate and costs. Determine your down payment. All things being equal, you will get a better rate quote with a larger down payment. Increase your power as a borrower. There are many factors that influence the type of loan you get and the rate associated with it. Is this your first home purchase? Is your income easily verifiable? Is your credit history strong, specifically your FICO score? Get pre-qualified or pre-approved. This will save you time and hassle down the road. Local is better than out-of-state or web-based. Lenders are responsible for picking the appraiser. As a homebuyer, you are much better served by an appraiser with extensive knowledge of your local market. Consider the APR along with the rate. The APR is an extremely useful tool in comparing different interest rates and fee configurations. Understand the terms of your loan. Are there pre-payment penalties? If you are obtaining an Adjustable Rate Mortgage, when will the adjustments occur and how are they calculated?
WK Real Estate has its own preferred lending partner, Cherry Creek Mortgage, which operates out of our Boulder office.
WK Real Estate has its own preferred lending partner, Premier Mortgage Group, which operates out of our Boulder office. P remier Mortgage Group---- the #1 residential lender in northern Colorado---- is the top-producing division of Cherry Creek Mortgage Company (CCMC), A PRIVATLEY OWNED Top 40 lender nationally. Headquartered in Colorado, CCMC has more than 90 locations across the country. Their loans are provided by the nation’s largest banks and investors. WK Real Estate’s on-site team manages the entire loan transaction, from originating and processing to underwriting and closing. We ensure a smooth, timely process from start to finish.
If you incur a loss of earnest money due to an error made by the Cherry Creek Mortgage Loan Officer or our Company, we will reimburse you the full earnest money loss incurred. The guarantee does not include errors, delays or non-performance by any third parties involved in the transaction. Certain restrictions and conditions apply and compliance with all applicable rules and regulations is required. Be in the Know Stay on top of the market in your neighborhood with the sold home report. With just an address and email, you can begin receiving this complimentary monthly report detailing the recently sold homes near you. You can also view homes in your market or use the website to discover all the sold homes across the country on desktop and mobile devices. Homebot Homebot is a platform that allows homeowners to see the value of their home. The housing market is constantly fluctuating and Homebot can help you determine whether your home equity has increased by providing you with financial reports. This can be a great tool to help you calculate retirement. By the time the average American reaches 65 years of age, 83% of their retirement will come from their home equity. Homebot is a dynamic financial dashboard designed to empower homeowners to build wealth with their home.
BUYER’S GUIDE
The Premier Mortgage Difference
The Cherry Creek DifferenceMortgage
If you incur a loss of earnest money due to an error made by the Premier Mortgage Group Loan Officer or our Company, we will reimburse you the full earnest money loss incurred. The guarantee does not include errors, delays or non-performance by any third parties involved in the transaction. Certain restrictions and conditions apply and compliance with all applicable rules and regulations is required. Earnest Money Protection Stay on top of the market in your neighborhood with the sold home report. With just an address and email, you can begin receiving this complimentary monthly report detailing the recently sold homes near you. You can also view homes in your market or use the website to discover all the sold homes across the country on desktop and mobile devices. Be in the Know Homebot Homebot is a platform that allows homeowners to see the value of their home. The housing market is constantly fluctuating and Homebot can help you determine whether your home equity has increased by providing you with financial reports. This can be a great tool to help you calculate retirement. By the time the average American reaches 65 years of age, 83% of their retirement will come from their home equity. Homebot is a dynamic financial dashboard designed to empower homeowners to build wealth with their home.
Cherry Creek Mortgage— the #1 residential lender in northern Colorado— is the top-producing division of Cherry Creek Mortgage Company (CCMC), A PRIVATLEY OWNED Top 40 lender nationally. Headquartered in Colorado, CCMC has more than 90 locations across the country. Their loans are provided by the nation’s largest banks and investors. WK Real Estate’s on-site team manages the entire loan transaction, from originating and processing to underwriting and closing. We ensure a smooth, timely process from start to finish.
Cherry Creek Mortgage., Inc. NMLS# 3001, dba Premier Mortgage GroupThe material provided here is intended as educational and informational only and is for distribution to real estate or financial professionals and is not intended for distribution to consumers; this does not constitute an offer to lend or to recommend available products.
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