Buying & Selling A Home


Selling a home is as simple as sticking a sign in the yard and watching the offers rolling in, isn’t it? NOT EXACTLY… Here are some of the things we do to market your home:

  • SIGNAGE
  • PROFESSIONAL PHOTOGRAPHY
  • VIRTUAL TOUR
  • HIGH QUALITY COLOR BROCHURES
  • LUXURIOUS, WELL PROMOTED OPEN HOUSES
  • POSTCARDS TO SURROUNDING AREA
  • NEIGHBORHOOD UPDATES AND/OR ADS
  • DIRECT MAIL
  • CLEANING CREW
  • ROOF INSPECTION
  • HANDYMAN SERVICES

Team Vivi will also list your home on several real estate search engines and social media websites, to include:

  • Multiple Listings Service (MLS)
  • TeamVivi.com
  • Trulia.com
  • Zillow.com
  • Instagram.com
  • Realtor.com
  • Facebook – Denver Real Estate Coming Soon Group, Low Inventory Group
  • Open Houses on OpenHomePro, and OpenHouseWeekend

Announcements to Colorado agents through bombbomb.com, and other electronic avenues, as well as public announcements through Facebook, Twitter, LinkedIn, and Instagram.

Interviewing other agents?

Great! Ask them about their marketing campaign and the qualifications of their graphic design and digital marketing team. We have a full-time Marketing Director dedicated to an excellent presentation of your home to the widest audience possible to maximize your selling price.

We are now offering FREE market reports for all past, current, and future clients of Vivi Gloriod and Associates.

Your report charts market activity– current up-to-the-minute –with homes in your area, including such data as sold homes, properties for sale, inventory counts and even days-on-market.

Your free market report will be personalized to you and your current address so all information will be relevant and pertinent to your real estate needs.

Information included in your free report will include

  • Average Days on Market
  • Selling vs. Asking Price
  • Asking and Sold Prices
  • Number of Houses for Sale
  • Median Home Price
  • School Information
  • Community Information
  • Current Real Estate Listings

There are many ‘intangibles’ behind this data, such as whether homes were fixed up or not, special amenities and the like. I have the local market expertise to help you interpret this information fully. If you have any questions about this report or any other real estate related issues please be sure to contact Vivi and her team.

Please use the contact page on our website, or call us today at 303.847.1868 to arrange to have a free report sent to you via email at no obligation or cost.

We cannot emphasize enough the necessity of an extensive home inspection. The $200 to $500 a good inspection costs is a pittance compared to purchasing a home with serious defects. The Colorado real estate sales contract provides you, the Buyer, with the right to conduct a thorough home inspection.

Don’t let anyone convince you not to have one. A professional inspection will not only give you a detailed picture of the state of the home, but it also provides you with an important exit point should the home have serious defects.

When the contract is written contingent on an acceptable inspection, you can either ask that defects be repaired or that you are compensated for the repairs you will have to make. If the seller doesn’t agree, you can cancel the contract.

Depending on the financing you’ve selected, you should have either 2 or 3 inspections. The first one you do yourself.

A professional home inspector performs the second inspection. Inspections are designed to uncover defects in the property that may affect its safety, livability or resale value. A home inspection doesn’t necessarily include cosmetic issues, and a home inspection is not a guarantee. It is an objective report that outlines the state of the home you’re planning to purchase, which is why it is so important to hire a certified home inspector.

Once the inspection is completed, you can decide if there are defects that you want the seller to repair or replace. Then your agent can help you draft that request.

If you have a government loan, a third inspection may be made during the appraisal. This is more of a mini inspection focused on specific conditions of the home, and should not be considered a substitute for a full inspection by a qualified and trusted inspector.

When you borrow money to buy a house, the lender will require an appraisal; a third party estimation of the home’s fair market value. An appraiser considers many factors, including the prices of comparable homes that have recently sold, as well as the condition, size, amenities and location of the property being appraised.

Obviously an appraisal is necessary to keep the lender from lending more than the house is worth. That’s just bad business. In the vast majority of cases, everything will be fine and the house will be either appraised at or above the sale price.

Occasionally, the appraisal will come in for less than the home’s selling price. At that point, the bank will either accept the difference as an acceptable risk, come back to the buyer for additional money to make up the difference or turn down the loan based on the appraisal. If this happens, your agent can help you terminate your contract to purchase the property.

In slow markets, the appraiser often has trouble finding comparables, requiring him or her to go back up to 18 months ago compared to the customary six months. In particularly hot markets, the appraiser may be looking at data from the week before that is already out of date because prices are rising so fast.

In Colorado, your lender is responsible for ordering the appraisal. They will have a list of appraisers that they like to use, which is fine. Ask for a copy of the appraisal. If the bank hired the appraiser, he or she is not required to give you a copy, even though you’re actually paying for the appraisal. But if you ask for a copy you have to be provided with one.

Tax assessments have little bearing on the numbers an appraiser will come up with. In many communities, a tax appraisal can be as much as 85% less than a private appraisal. When the tax bill arrives, you’ll be grateful for the difference.

So, you’ve found the house that fits your needs perfectly. It’s in a great neighborhood, it has a great floor plan, the schools are first class and the neighbors are right out of an episode of The Brady Bunch.

Now all you have to do is put forth a winning offer.

An offer includes setting the purchase price, adding in contingencies and setting forth terms to the seller. The seller then will either accept the offer as is, make a counteroffer with changes, or reject it outright.

Hopefully you have a trusted realtor that can help you make a well thought out offer. Offer too little and another bidder may beat you or the owner may just want to wait for a higher offer. Offer too much and you could be wasting your money.

Purchasing a house, particularly one you’ve already fallen in love with, can be a very emotional process. But don’t let your emotions do the talking. Buying a house is a business transaction. Be sure to keep your cool so you don’t have any regrets down the road.

So, you’ve finally narrowed down your choice and are ready to make an offer. If you’ve selected the Vivi Gloriod as your realtor, you have an experienced partner who can guide you through the process.

After all, there’s a lot to consider. You need to know how much you can comfortably afford, how much your lender will underwrite in the form of a mortgage and what your own out-of-pocket expenses will be, and what kind of contingencies need to be included in the offer to allow you some negotiating room.

To assist you, we’ve put together some good tips and tools covering the home buying process, from writing an offer to calculating closing costs.

Whether you are buying your first home or your last retirement home, purchasing a home is usually the biggest investment you will ever make. There are many things to consider before you make your final decision.

The first thing you want to do is prioritize what you want in a home and where you want that home to be. This can be a changing & evolving list as you look at homes and find things you like that you didn’t originally think about. However, there will obviously be things you just can’t compromise on. Contact us to get some ideas on what you should consider when drafting your list.

It is also important that you understand your financial situation and what you can comfortably afford.

Figuring out how much money you will need at closing isn’t as simple as the downpayment; there are taxes, insurance, mortgage escrows, and more. You need to consider all of these costs when determining your monthly payment. Click here to figure out how much you can afford.

Now, we go look for a home. Real Estate is a cooperative business, which means that any realtor can get into any home listed with another realtor. So don’t worry about whether or not we can get in to see that house you really want to see, we can!

When hunting for a home, it is important to pick an agent who will listen to what you want and promote your interests. Working with an experienced agent, likeVivi Gloriod, can save you time, money, and effort. Contact us so we can explain how we can help you.

Once you’ve found that perfect home, we will write an offer & negotiate the best terms. Then we will coordinate title insurance, a home inspection, an appraisal, your financing, insurance, a survey, and any thing else that might pop up along the way. We’ve put together some good tips and tools to help you with this process, just let us know which report we can provide to you.

Ruby Hill

Highlands

Baker

Wash Park

Cherry Creek

Lincoln Park

Cory-Merrill and Bonnie Brae

Cheesman Park

Athmar Park

https://www.youtube.com/watch?v=yxPuYOMvYvk

What Is a Short Sale?

Short Sales Give You Leverage to Negotiate a Deficiency Waiver… In states without non-recourse statutes, the bank could take Stan’s home and then pursue him for the remainder of his debt – known as the deficiency – by going after his personal assets. A foreclosure gives the homeowner little leverage in negotiations. If the bank thinks it can make money by going after Stan’s personal assets after the foreclosure, it most definitely will.

But because a short sale actually saves the bank money in terms of administrative and legal costs, and because it also presents the bank with a qualified buyer ready to purchase the home at a price well above what the bank could hope to get at a foreclosure auction, banks are often ready to negotiate a  full deficiency waiver in a short sale. Instead of waiting for the bank to take his/her house, and then the rest of his/her remaining assets, a short sale allows the homeowner to take control, avoid foreclosure, and get a fresh start financially and mentally.

Short Sales Let You Start Over Quickly

While it may be difficult for homeowners to say goodbye to their beloved home, in order to avoid the financial and psychological toll that foreclosure can entail, it’s important to be able to get a fresh start again quickly. While the average foreclosure is a drawn-out process that averages 15 months, short sales can be completed in as little as 2-6 months, depending on your lender.

Homeowners in Stan’s position who choose to do a short sale find that after a short sale frees them from their burdensome mortgage payments, they’re actually able to rent a similar home in the same neighborhood after moving out. Relieved of a large financial burden, living comfortably under a roof in the same area, and having avoided the bulk of the financial consequences of foreclosure, homeowners are free to start to rebuild their financial future.

Short Sales Avoid the Public Humiliation of Foreclosure

Perhaps one of the greatest fears of homeowner’s facing foreclosure, is the humiliation of public foreclosure proceedings. For a hardworking, honest citizen like Stan, the thought of being evicted from their own home and having their home sold through a foreclosure auction can be a stressful, anxiety inducing experience. When your home is sold through a short sale, the listing many times looks essentially like any other listing. There are no foreclosure proceedings and no public auction.

Short Sales Can Allow You to Salvage Your Credit Score

A foreclosure vs short sale differ far beyond just the embarassemt; a foreclosure can be a huge blow to your credit score, which can significantly affect your ability to obtain loans in the future, and will greatly raise interest rates for those loans you do obtain. With a short sale, you may still suffer some credit damage from your delinquent payments, but your credit score will take significantly less damage than it would with a foreclosure on your record in most cases. Your lender will report that your loan was “paid in full for less than the full balance.” This is highly desirable compared to the alternative.

Short Sales Allow You to Buy a Home Again Soon

After a foreclosure, you’ll be “locked-out” of obtaining home financing for a period of 5-7 years. With a short sale, this period is only 2 years. While buying another home may be the last thing on your mind as you face foreclosure, it is definitely something you will be considering a year or two down the road once you’re back on your feet. You’ll definitely want the ability to purchase a home again, if you so choose.

Short Sales Offer Cash Back Incentives

While it may not be the most important short sale benefit, short sales performed through the U.S. Treasury Department’s  Home Affordable Foreclosure Alternatives program actually get the homeowner $3,000 cash back toward location expenses, as part of the government’s attempt to promote short sales as an alternative to foreclosure. This money is in addition to any lender specific incentives which can be up to $30,000 in some cases! Contact us today to qualify for a short sale and discuss potential incentives.

Please note, if you would prefer to talk to one of our team members to have any of your questions answered please do not hesitate to contact us.

For both buyers and borrowers, a foreclosure and short sale present different challenges and advantages. Foreclosed properties are owned by banks but in a short sale the property is still owned by the borrower.

When a borrower consistently fails to make mortgage payments, the property is foreclosed. For example, the lender assumes ownership of the property and evicts the borrower. Foreclosed properties may be sold at an auction or via traditional real estate agents. For a borrower, a foreclosure badly damages their credit rating.

A short sale is often used as an alternative to foreclosure because it mitigates additional fees and costs to both the creditor and borrower. Credit is also typically damaged much less than from a foreclosure, but a short sale usually involves a lot more paperwork.

When the market value of the property is less than the outstanding mortgage principal, and the borrower cannot afford to pay the mortgage, the lender (one or more banks) may choose to accept a short sale. In a short sale, the proceeds from selling the property fall short of the mortgage balance. Any unpaid balance owed to the lenders is known as a deficiency. Short sale agreements do not necessarily release borrowers from their obligations to repay any deficiencies of the loans, unless specifically agreed to between the parties.

Buying a property in a short sale usually takes a lot longer because it’s not just the buyer and the seller who have to agree to the sale. All the lenders that hold a lien on the property have to agree to the sale. If the first mortgage has been re-sold by the original lender, it may now be owned by multiple banks. If there is a second mortgage on the house, the lender(s) of the second mortgage also may be lienholders. Getting all lenders to approve takes time and could even prevent the deal from closing if a lender does not agree.