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Buying a Home

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Buyer s Guide to Real Estate WWW GOFREEDLE COM

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PURCHASING A HOME TABLE OF CONTENTS Our Guarantee to You Home Buying Mindset Home Loans The Buying Process New Construction Planning for Buyer s Costs Working by Referral

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I would highly recommend Scott as a realtor I used him to find and purchase a house while outside the United States He provided very good insights on the area offered genuine assessments of properties being considered did not add pressure to make decisions and responded in a timely and complete manner to my questions He negotiated well with the seller s agent and provided recommendations with contact information on services we might need Everything went smoothly WWW GOFREEDLE COM

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OUR GUARANTEE TO YOU Our guarantee is to find a great new home that suits your needs as quickly as possible and to negotiate a fair price that sets you up for investment success We recognize all real estate investments are very important transactions and you have our unwavering support We are here to help you find the right home that helps you to achieve your long and short term dreams We won t lock you into a long term contract and under perform on our agreements On that same note we also won t pressure you into buying a house that isn t right for you because we need to close a deal You are the one in control when you work with the Freedles Our promise to you is that you ALWAYS have the ability to unconditionally cancel our agency agreement before going under contract with a seller In any circumstance if you decide you d rather not work with us or perhaps you decide you no longer want to purchase a home we promise to sign a mutual cancelation Please know it takes a strong commitment to high quality service to make this kind of a stand We at Freedle and Associates hold ourselves and our level of service to the highest standards We are confident that you will tell your friends and family about us In fact that s how we get all of our business We work 100 by referral We want to ensure you have the very best experience

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I have worked with Jake several times and I will always work with him for my real estate needs Whether you are buying or selling he can help you In the red hot market Jake ended up negotiating with the selling agent to find a way to make my deal happen Very professional and motivated to work for his clients is how I would describe him Do yourself a favor and work with Jake Freedle on your next real estate deal WWW GOFREEDLE COM

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SOME BRIEF ADVICE ON YOUR MINDSET FOR BUYING A HOME Buying a home is a unique investment you can t live in your mutual fund It s the only investment that you need to appreciate in value to create long term wealth and be a functional place to host your family for Thanksgiving Whether this next home is your first ever real estate purchase or the dream home itself it s important to understand the possibilities and limitations in front of you We would encourage you to take this moment to start thinking of yourself as an investor if you don t already For most people their home is the most valuable investment they will make in their lives Buying a home and paying it off completely is powerful If you no longer had to pay for your place to live what would that open in your life Owning your home can give you the access to leveraging your equity to invest in other ways Your home will appreciate greatly in value over time and eventually you can reverse mortgage your home and the bank will pay you every month to buy your home from you slowly over time You can turn your home into a rental property allowing renters to pay the mortgage for you while you And passing a home on to the next generation in your family is one of the most effective ways to pass wealth from a taxation standpoint Homeownership is a great key to creating wealth and prosperity There are always risks with any investment Our goal is for you to help you find a home that appreciates powerfully Minor differences in location layout yard size and many other factors can impact the future value of your home If the location in the neighborhood would cause your home to appreciate 1 more every year for the next ten years that would give you 80 000 more equity for every 500 000 in purchase price It pays to be patient and get the right house Is this bubble going to pop Folks have been asking us this question to us for 25 years Except for that time the bubble DID pop Let s talk about that possibility The solution is what we like to call the ten year mindset You probably won t own your home for ten years But consider for a moment that you might need to In 2007 the median Denver home price was 291 000 By 2009 that value dropped to 215 000 a 25 drop Now the bubble popped for some really terrible reasons Lending institutions were making horrible loans people were making bad decisions with those loans and the foundation of American real estate was incredibly weak Today we have solved many of those problems lending practices are very different and our foundation is incredibly strong AND what if somehow that happens again By 2017 the median Denver home value increased to 480 000 Meaning that from 2007 to 2017 home values grew by an average of 5 13 The national average for home value growth is around 3 8 over the past 50 years Colorado tends to be stronger More than likely you ll be able to sell your home after five or so years and see a great return If year five falls in the middle of a recession know that if you can hold onto your investment for a little longer you re likely to recover and do well on your investment We can t wait to explore these possibilities with you It means so much that you have chosen to trust us to help you navigate the world of real estate

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LET S TALK HOME LOANS Basics Regarding Getting to Closing with Your Loan Approval Getting a home loan is an interesting process You ll have a mortgage broker the person with whom you ll actually be corresponding and to whom we commonly refer as a lender who will be connecting you with a money lender like Fannie Mae Freddie Mac specific mortgage companies etc The mortgage company is giving you the ability to borrow hundreds of thousands of dollars to buy a home They have terms you have to meet in order for them to be willing to allow it Throughout this process they are likely going to ask a lot of annoying strange and intrusive questions about your life your finances and your past They will want answers on their timeline not yours The best thing to do here is accept it They re lending you a lot of money to help you achieve something you can t on your own They have an equation they put together to qualify you as an appropriate risk to lend you this money There s nothing we your mortgage broker or you can do about it So let s learn about how to play the game together so you can buy a home

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DO S AND DON TS FOR HOME LOANS Dos Keep a budget don t spend money you need for your down payment or to keep as a backup fund for emergencies Keep your job Ask questions if you re confused or unsure Get documents asap to your mortgage broker lender Get all of your down payment out of any volatile investments as soon as you re under contract for example cryptocurrency Pay all of your bills on time Do Nots Run up credit cards Open a new credit card Buy a vehicle Change your pay structure at work Make large deposits from sources you can t verify Change your marital status Co sign on a loan Don t make large purchases Change banks NOTHING that will hit your credit Talk to friends or family who haven t bought a house in the last 5 years in colorado A note about the DO get money out of investments and DO NOT make large deposits Making a deposit from an investment account for the purpose of putting a down payment down is fine Even from a cryptocurrency account Even a gift from parents if you are sourcing that as part of your down payment Large deposits in cash from underneath your mattress will be red flagged and could affect your pre approval To be safe before you move any amount of money over 1 000 let s have a conversation first We can probably figure it out and having more time to do so will help

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Title Work Received within 7 days objections within 10 days resolution within 12 days The Title Company will send you a title commitment This is their report after searching public records for any liens etc that need to be fulfilled prior to the successful transfer of the deed and details your information on how you will take title of the home Verify your information is correct and understand that these folks from the title company will be reaching out with various questions Title are the folks who handle the money in your purchase THE BUYING Inspection and Due Diligence Inspections to be done generally within a week Renegotiations within 13 days Terminate within 13 days Terminate due to insurance within 18 days As a Buyer you will have the property inspected This inspection process could include whole home sewer radon mold etc Based on the findings Buyers then accept negotiate repairs or terminate the contract During this time Buyers also order property insurance to ensure insurability HOA and Disclosures Approved within 3 days HOA docs within 7 days Earnest Deposit Delivered within 3 days Turn in the earnest money to the title company This can be with a personal check dropped off in person or you can wire the funds directly to the title company Call the title company directly for wiring instructions Once we go under contract you will receive a number of documents and disclosures to review These outline any HOA regulations and restrictions and the Seller s knowledge of the property Your responsibility here is simply to review and ask questions if you have any

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PROCESS CO N Wh GR Pur en all ATU cha p se C artie LAT ION ont s hav r Mu e S tua cons act th sign ide lly e co ed th E re xec ntr act e ute d a dC is ont rac t Closing and Possession Survey Typically within 21 35 days Must be completed within 18 days objections within 21 days resolution within 25 days For any property you may pay for a survey as part of your due diligence discovery This would typically be performed for a piece of land but sometimes in the case of a condominium to do a discovery of the property including the legal inclusions boundaries and any easements of the property Appraisal Must be done and accepted objected prior to appraisal deadline The money lender requires an outside source to confirm the value of the home you are purchasing They will come back with a number they believe is the right value for the home If that number is higher or equal to the purchase price we have offered for the home great We move forward without questions Things to do 1 call the energy company and transfer service to your name You can do this in advance and tell them to start service on the day of possession 2 set up internet 3 set up garbage collection 3 have two forms of identification available the day of closing 4 get your cashier s check or money wire set up for funds at closing 5 review settlement statement closing disclosure Possession Date is the day you will be able to start moving in Loan Approval Must be terminated within 21 days Loan application process must be started prior to the signed contract The Lender will work with his underwriters to prepare the loan for closing If your loan is not approved by this deadline you are able to terminate the contract with written notice These are approximate timelines based on an average contract Reference the calendar from your specific contract to see what your exact deadlines are

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We recently moved from New England and it was insisted that we use Megan Freedle to help us find our forever home We can say it s been some of the best advice we ve received since arriving Megan was incredible to work with and went above and beyond our expectations each and every step of the way Without a doubt we will be using Freedle Associates for all of our real estate needs here in Colorado and suggest the same for anyone who reads this Thank you Megan and the rest of the team WWW GOFREEDLE COM

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PLANNING FOR BUYER S COSTS Earnest money 1 2 of the list price Due about 5 days after offer is accepted Physical Inspection 320 600 depending on square footage and age of home Paid at the time of inspection Radon test 125 the need for this test varies depending on design of home Paid at the time of inspection Sewer scope 139 Paid at the time of inspection For rural homes well and septic inspections Closing costs This varies widely depending on what loan program you are going with Your lender will be able to give you a good estimate of these costs which include the appraisal some insurance and HOA fees prepaid in advances lender fees etc Down payment Amount you decide to put down minus the initial earnest money already turned in

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Having worked with several realtors between selling and buying homes in the past several years I can say Jake stands out as an excellent realtor Jake was phenomenal from start to finish From professionalism and expert knowledge of the market and industry to negotiation skills and a mindful approach to the entire process we had a great experience and cannot recommend him enough Today we closed selling our home Jake not only helped us get a great price on our home but negotiated several months free rent back My husband and I feel very grateful to have worked with Jake for our most recent home sale We highly recommend him Scott has been our go to realtor in Colorado for many years now His knowledge and expertise are only exceeded by his personable attention to each of his clients We have bought and sold with him representing us and he has gone above and beyond each and every time He got us great deals as buyers and made us money as the sellers Scott and his team are by far the best we have ever worked with Scott will be your realtor once and be your friend forever Do yourself a favor and let Scott make the whole buying selling process stress free and enjoyable Megan was absolutely the best we could ve hoped for as first time buyers She was extremely patient with us answered all of our questions instantly and always had our best interests in mind She went above and beyond checking in with the sellers for us and made what could ve been an extremely stressful process especially considering the market a breeze She was so flexible with scheduling and was always available for us Cannot recommend her highly enough WWW GOFREEDLE COM

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Freedle and Associates LLC Scott 720 207 1318 Jake 720 934 6583 Megan 720 277 8845