Buying a home
A More Thoughtful Way to Buy in Denver
I'm a fourth-generation Denverite and have been a licensed real estate broker since 2006. I've successfully helped many clients find the right property for their unique life. I have also bought and sold my own fix and flip properties as well as rentals, and I've opened up the walls of more than a few of them, so I know how to read a house for its condition, its upkeep, and what it could become. Over two decades and more than 150 closed transactions, I've learned that a successful purchase is so much more than winning the offer; it depends on whether the home fits your life. I'll tell you what I see, walk you through each step, and help you buy with confidence. Tell me where you are and where you want to go, and we'll build the plan from there.
Where we start
Your goals first, then the plan for the property
The right answer isn’t always “Buy!” or “Sell!” I start with your current situation and where you want to go, then we fill in the steps to get you there. My initial consultation is at no cost, and during this meeting we will identify what is important to you and how my experience can help achieve those goals.
The process
From the first conversation to closing
Step 1 of 9
Find an Agent
Start by hiring a licensed Colorado real estate broker. A good agent helps you understand local market conditions, negotiates on your behalf and helps you meet Colorado-specific requirements.
Before we start seeing properties, we review the Colorado brokerage disclosure and the Buyer Representation Agreement together. It covers the services I will provide, the type of property and area, how long we will work together, and how Compass is compensated.
Read the Colorado definitions
- Seller's agent
- “A seller's agent works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the seller.”
- Buyer's agent
- “A buyer's agent works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the buyer.”
- Transaction-broker
- “A transaction-broker assists the buyer or seller or both throughout a real estate transaction by performing terms of any written or oral agreement, fully informing the parties, presenting all offers and assisting the parties with any contracts, including the closing of the transaction, without being an agent or advocate for any of the parties.”
- Customer
- “A customer is a party to a real estate transaction with whom the broker has no brokerage relationship because such party has not engaged or employed the broker, either as the party's agent or as the party's transaction-broker.”
Quoted from the Colorado Real Estate Commission’s Brokerage Disclosure to Buyer. This is general information, not legal advice.
Tip Ask any broker you interview which relationship they are offering you, and get it in writing.
Step 2 of 9
Get Pre-Approved
Before you search, your first step is usually to get pre-approved for a mortgage, unless you will pay cash. A lender can tell you how much you can borrow, and sellers take your offer seriously, knowing you are qualified.
I can connect you with mortgage brokers that I know and trust. Questions about your own financing are best answered by a licensed lender.
Tip Gather your pay stubs, tax returns, and bank statements early so your lender can move quickly.
Step 3 of 9
Visit Properties
We define your needs and preferences, set up a search and tour homes. I provide access to listings, on and off the market, including Compass Private Exclusive listings, along with local insights on neighborhoods and market trends.
When you find a home you like, I prepare a comparative market analysis (CMA) so you can see how the asking price compares with similar homes.
Tip Visit a neighborhood at different times of day, so you can really get a good feel for what living there is like.
Step 4 of 9
Negotiate
I work with you to draft and submit a Contract to Buy and Sell Real Estate. The seller can accept, reject or counter. Once both sides agree and sign, you are under contract, often with contingencies such as inspection and financing.
Price is only one part of an offer. We also weigh timing, contingencies, and what matters most to you. Your offer usually comes with earnest money, held in escrow, and I update you on every date when it is at risk.
Tip Decide your walk-away number before the offer goes in, not while you are in the middle of negotiating.
Step 5 of 9
Inspection Period
We have a limited time to conduct optional, encouraged inspections, such as a general inspection, sewer scope, radon test and structural inspection. If something of concern turns up, we may be able to reopen negotiations on price and terms or, depending on your contract, end the contract and have your earnest money returned.
Tip Line up your inspectors as soon as your offer is accepted, because the good ones fill their calendars.
Step 6 of 9
Complete the Loan Process
Once you are through your inspection timeframe, your loan officer may ask for more documents and an appraisal is ordered. When the lender has everything and the appraisal is successful, they can issue a clearance to close.
Tip Avoid opening new credit or making large purchases until you have closed.
Step 7 of 9
Closing Is Scheduled
The title company works with the buyer, seller and their agents to coordinate closing for the day shown in the Contract to Buy and Sell. The title company also tracks all funds and makes sure the home you are purchasing is free of encumbrances.
Step 8 of 9
Final Walk-Through
Just before closing, we walk the property to confirm that no damage has been done since the inspection, that agreed items were corrected, and that major systems and appliances work.
Step 9 of 9
Closing
When all the conditions of the contract are satisfied, closing is held. The documents are signed, payment is exchanged, and you receive the keys to your new home.
A purchase often takes about 21 to 60 days after an offer is accepted, though it varies. Your rights, deadlines and remedies depend on your signed contract.
Tip Working with experienced professionals, including your agent, lender and title company, helps you avoid pitfalls in Colorado’s market.
Resource
My buyer presentation book
The presentation I walk buyers through: how I work, the process, and answers to common questions.
Contact
Talk through your plans with a seasoned professional
Let’s build your custom search together.
Geoffry Kaatz
Real Estate Consultant and Licensed Realtor
303-517-9671
geoffry.kaatz@compass.com
200 Columbine St, Suite 500
Denver, CO 80206