Crafting Your First Offer in Denver’s Market
Fast facts (today):
30-yr fixed averaged 6.24% (week of Nov 13). Translation: payments are roughly flat vs. last week; leverage comes from days-on-market, not rate swings.
Denver metro median closed price ~$590K in October; typical time to sell ~35 days—slower than last year but still moving.
Plain-English offer pieces:
Earnest money = your “good-faith deposit.” In Denver, 1–2% of price is common. It’s credited to you at closing and protected by your contingencies.
Contingencies = your off-ramps. The big ones: loan (if your financing falls through), appraisal (if value comes in low), and inspection (if condition surprises you). Deadlines matter—miss them and protections shrink.
Escalation clause = a smart way to compete without overpaying. You offer a price, then agree to beat any bona fide higher offer by a set amount up to a cap. Always pair it with appraisal/financing language so your payment (and risk) stay predictable.
How we structure it: start with a reasonable earnest money amount, keep appraisal/loan/inspection timelines tight, and use an escalation clause only when the home is new-to-market and attracting bids. On 30–70-day listings, skip escalation and ask for a seller credit first, then a 2-1 buydown, then targeted fixes (sewer/roof/HVAC/safety).
Bottom line: a clean, well-timed offer wins more than the highest number.
— Andy | Your Denver neighbor + data-driven Realtor®
#DenverRealEstate #HomeBuying #ColoradoRealEstate #FirstTimeHomeBuyer #Negotiation #Appraisal
