How to Buy a Home in 2022

It’s a challenging time to be in the market for a home in northern Colorado. Inventory is limited but buyers are in no short supply. It’s more important than ever to make sure that you’re prepared when you start looking for a home.

• Connect with a local lender. Getting pre-approved by a lender is an important first step if you’ll be financing your purchase. Knowing how much you qualify for and where you’re comfortable with payments will help you narrow down your search for the right kind of properties. Often times, using a Colorado lender will make your offer look stronger to a seller.

• Work with an experienced Real Estate Broker. An experienced Broker will be able to prepare you for the current market and suggest different strategies with your situation in mind. Having a knowledgeable Broker who can write competitive offers and think creatively is important.

• Be available for showings. Many homes tend to be listed on a Thursday or Friday with showings through the weekend. Although many listings will have an offer deadline of Sunday or Monday, that’s not always the case. If you can get into see a property shortly after being listed, you may have a chance of getting an offer in quickly with less competition.

• Get ready to write a strong offer. If you’re in a competitive offer situation there are several strategies to make your offer stand out. Here are some tools to consider…

  • Offer over list price

  • Offer full appraisal gap coverage

  • Include a declaration of willingness not to object to anything on the inspection report

  • Hard Earnest Money date and/or more than requested amount

  • Escalation Clause

  • Free lease-back agreement if needed

  • Buyer pays all title insurance premiums, closing and HOA fees

  • Fast Closing

  • If possible, purchase with cash

  • Offer with large down payment from a local reputable lender

  • Proof of down payment funds

  • Get as much done with your lender as you can. Get through underwriting if possible

  • Early signing bonus with stellar offer if accepted before offer deadline

  • What is important to the seller to get their attention?

  If you are thinking of purchasing real estate in northern Colorado, let’s connect. I would be happy to help you.

  Kelly Renz

  970.820.0750 | Kelly@GreyRockRealty.com