FAQs | Frequently Asked Questions

A listing agent is the real estate company (or individual) you select to represent your interests exclusively in the sale of your home. The selling agent is the real estate agent that delivers a bona-fide buyer with a purchase offer to buy your home. Usually, the listing agent and the selling agent are two separate entities

n experienced Realtor® like Pete Doty can help. He will prepare a Comparative Market Analysis (CMA) for your review. It will include a proposed price, the reason for it and include a plan for marketing your property in an effective way. How many homes have recently sold in your area? Is the market hot or cold? How many days are properties staying on the market? A reputable Realtor® will price the home so it will sell quickly and not languish on the market. Remember, a sales price that is too high can lead to problems. Pete Doty can help you price your home right.

In order to get top dollar for your property, you need to showcase your home from the curb to the backyard fence. That means you might need to do a few upgrades in order to make your home attractive to buyers. A fresh coat of paint, some landscaping updates or even using a staging service might be the key to getting top dollar for your home.

Earnest money is the amount of money you put down to show you’re serious about buying a home. Think of it as a good faith deposit. When a seller and buyer enter into a contract, the seller takes the home off the market while the transaction moves through the entire process to closing. If the deal falls through, the seller has to relist the home and start all over again, which could result in a big financial hit.

Earnest money protects the seller if the buyer backs out. It's usually around 1-3% of the sale price and is held in an escrow account until the deal is complete. If everything goes smoothly, the earnest money is applied to the buyer’s down payment or closing costs.

If the deal falls through due to a failed home inspection or any other contingencies listed in the contract the buyer gets their earnest money back. The practice of depositing earnest money can decrease the likelihood of a buyer placing offers for multiple homes, then walking away after the sellers take the homes off the market.

Yes, you can. If your home immediately gets a lot of showings, the market will automatically raise the price by providing multiple offers. If your listing isn’t getting much action, you may decide to lower the price. Market conditions are always changing. That’s why you need an experience Realtor® like Pete Doty to help you get the best price for your property.

You’ll want to make your offer as attractive as possible, and Pete Doty can help. This can include getting pre-approved and providing proof of funds with your offer. You can offer more earnest money. Pete Doty can help determine the seller’s motivation to help structure your offer to fit their wish list. You can also shorten the due diligence time period or offer all cash on a property. You can also waive the inspection contingency. This can increase your risk, which is why it’s best to have the guidance of a seasoned real estate professional like Pete Doty.

Yes, you can. Of course, you’ll want to take precautions and a seasoned Realtor® like Pete Doty can help you determine your showing requirements. Do you want potential buyers to wear booties? Use disinfectant when they enter and leave your home? Do you want to limit the number of people who can enter your home at a time? Or have a 90-minute gap between showings? Do they need to wear a mask? It’s up to you and your Realtor® to set the standards. Because of COVID-19, it’s more important than ever to offer on-line virtual tours so people can experience your home before they ever set foot in it.

All contract terms are negotiable but generally in Denver, you’re responsible for expenses related to the title insurance policy, payoff of your existing mortgage(s) including prepayment penalties, (if any), broker commissions, unpaid property taxes for the current year, repairs you have agreed to make and other miscellaneous items which you have agreed to pay.

No, you don’t. Health and safety issues, however, should be repaired. When it comes to cosmetic item, your Realtor® can help you determine if the cost and ease of the fix is worth keeping your buyer. Oftentimes you can agree to a monetary settlement so the buyer can make the repairs after closing.

Because of COVID-19, most sellers aren’t scheduling an Open House.

Every seller needs to complete this form, and your Realtor® can help you complete it. It’s required by the state of Colorado and reviews every aspect of your property and its condition. It’s presented to the buyer when you accept a purchase offer.

An FHA loan has lower down payment requirements and is easier to qualify for than a conventional loan. FHA loans are excellent for first-time homebuyers because, in addition to lower upfront loan costs and less stringent credit requirements, you can make a down payment as low as 3.5%.

Pre-approval can help you shop in your price range, act fast when you find a house you want to make an offer on, and catch—and correct—any errors on your credit report before they cause a problem with your loan. This could help save you thousands in the long run because an error on your credit report could result in a lower credit score and lead to a higher interest rate.

An experienced Realtor® like Pete Doty can provide you with a list of potential lenders and other vendors. Friends and family can also provide referrals. It’s a good idea to talk to at least three lenders in order to get the best loan for you. Although it’s not required, most home shoppers end up getting a loan through the lender who pre-approved them. So it’s a good idea to do your research with lenders early, at the pre-approval stage.