How to take advantage of Denver’s Hot Market

How to take advantage of Denver’s Hot Market

by | May 27, 2015 | Blog, Market Information

So Denver’s Market is hot… Sellers are getting more than full price and great terms in bidding wars… That’s great for everybody that happens to need to sell who is relocating out of state to another area where real estate is much less expensive. They are selling high and and buying low by doing that right? But what about the rest of us? What if you don’t want to move to another state? Maybe you want to move up and buy a little bigger house or in a different neighborhood? Do you want a rental? If the answer to any of these questions is “yes” then read on. Scenario 1: You want to sell but don’t want to have to rent while you are looking for your next house to buy? This is probably the Number 1 reason why people don’t sell. This is a reasonable and common fear. The good news is there is a way around this. Two solutions are “Seller Contingencies” and Seller Rent Backs or Post Closing Occupancy. Here’s how it works. Because the Denver market is such an extreme sellers market, sellers have the upper hand in negotiating with buyers. If you have a well maintained house and you price it when comparable sales show it should be priced at you will most likely have at least 5 or 6 offers to choose from.While price is an important part of the offer we also need to look at how qualified the buyer is, their down payment amount and possibly most importantly their terms. By terms I mean what are their dates and deadlines for...