Ryan Garvey

For buyers

Buying in Denver

Buying a house is the biggest check most people write, and my job is to represent you and only you. We will figure out what you actually want, get you into the right homes early, and negotiate for you from the offer to the closing table. You will always know what comes next.

The process

How it works

Eight steps from first call to keys. Open any one to see what happens and what I am doing for you.

  1. Prepare

    01Let's talk

    A 30-minute conversation. Budget, timeline, neighborhoods, what you need versus what would be nice, and what you are nervous about. Then I set up a search that sends you the right homes the day they hit the market.

  2. 02Get pre-approved

    If you are financing, a pre-approval letter is what makes an offer real. I will introduce you to lenders I trust and give you the questions to ask them. A pre-approval is good for 30 to 90 days, so we time it to when you are ready to write.

  3. 03Put it in writing

    Before we tour, Colorado asks buyers and agents to sign a buyer agreement. It spells out what I do for you, where we are looking, how long we work together (usually six months), and how I am paid. Compensation is negotiable. We read it together before you sign anything.

  4. 04Tour homes

    I curate what is worth your time and get us in early. In each house I look past the staging at layout, light, noise and the lot, and I tell you what tends to come up on a house that age. You will hear what I think while we are standing in it.

  5. 05Write the offer

    Price is one lever of several. Inspection terms, appraisal gap coverage, earnest money, timelines and possession all matter to a seller. We build an offer that fits this house and this seller, and I negotiate it. I will never advise you to waive an inspection.

  6. Contract to close

    06Under contract

    Earnest money, typically 1% to 2%, goes to the title company within a day or two. Inspections happen inside the first week. The appraisal follows in 10 to 14 days. I coordinate all of it, negotiate repairs or credits, and keep you ahead of every deadline.

  7. 07Clear to close

    Your lender says the magic words. Do not make big purchases or change jobs now. You will wire funds about 72 hours ahead, bring two forms of ID, and sign a lot of paperwork. Wire instructions never come by email or from me; you will confirm them with the title company by phone.

  8. 08Welcome home

    Final walkthrough the day before, keys at closing. I stay reachable after. If the furnace does something weird in January, call me.

Budget honestly

What it costs to buy

Typical ranges for a Denver purchase. Your lender and I will turn these into real numbers for the house you pick.

  • Earnest money

    1% to 2% of the price

    A good-faith deposit held by the title company. It counts toward your purchase at closing.

  • Down payment

    3.5% FHA, 5% to 20% conventional

    Depends on the loan you qualify for. Your lender will show you the tradeoffs.

  • Inspections

    $600 to $800

    Standard inspection plus sewer scope and radon on most older Denver houses. The best money you will spend.

  • Appraisal

    $700 to $800

    Ordered by your lender, paid up front, confirms the home is worth the loan.

  • Closing costs

    1.5% to 2% of the price

    Title, lender and recording fees, prepaid taxes and insurance. Sometimes negotiable with the seller.

  • Insurance

    Varies

    Homeowners insurance is required before closing. Mortgage insurance applies under 20% down. Flood insurance in a few Denver pockets.

Run your numbers

What has to be in the bank

The question I hear most from first-time buyers is how much cash they actually need. Put in a price and a loan type and this gets you close. Every number here is yours to change.

Cash to close

about $70,000

Monthly payment

about $3,990

Updates as you change the numbers below.

Your numbers

What you expect to pay for the house.

That’s $55,000. Conventional can start at 3%. Under 20% adds mortgage insurance.

6.5% is only an example. Check today’s rate with your lender.

1% of the price to start; 1% to 2% is typical. Part of your cash to close, not extra.

Sets how many days of interest you prepay at closing.

Set in our written buyer agreement.

We can ask the seller to cover it in the offer.

Money the seller agrees to put toward your closing costs.

Lender, title and recording fees. 1.5% to 2% is typical.

0.73% of the price is the Denver default in my title calculator.

0.68% of the price to start. Get a real quote early; roof age and location move it.

Condos and some newer neighborhoods. Zero for most houses.

On a loan of $495,000.

What you bring to closing

Down payment10% of the price
$55,000
Closing costs1.25% of the price: lender, title and recording fees
$6,875
Prepaid interest30 days, closing day to the end of the month
$2,645
Homeowners insurance, first year0.68% of the price, paid up front
$3,740
Escrow reserves3 months of property tax and 2 of insurance to start your escrow account
$1,627
Buyer's agent feePaid by the seller in this estimate
$0
Cash to close
$69,887
Earnest moneyPaid when you go under contract; it counts toward the total above
$5,500
Left to bring at closing
$64,387

Each month

Principal and interest6.5% over 30 years
$3,129
Property tax0.73% of the price a year
$335
Homeowners insurance0.68% of the price a year
$312
Mortgage insurancePMI under 20% down, estimated at 0.5% a year; your credit moves it
$206

An estimate, not financial advice. Your lender’s Loan Estimate is the real number, and I’m happy to go through it with you line by line.

How this is estimated
  • Cash to close is the down payment, closing costs, prepaid interest, the first year of homeowners insurance and escrow reserves, plus any buyer’s agent fee you pay, minus any seller concession. It’s rounded up to the next $1,000 and the monthly figure up to the next $10.
  • Closing costs are one percentage of the price for lender, title and recording fees. A cash purchase skips the lender’s fees, so it runs high there.
  • Prepaid interest runs from the closing day to the end of that month. Escrow reserves are 3 months of property tax and 2 of insurance; lenders size these by closing month, so yours may differ.
  • Colorado property tax is paid a year behind, so the seller credits you for this year’s taxes up to closing. That credit lowers your cash to close. I leave it out so the estimate errs high.
  • Conventional loans under 20% down add private mortgage insurance, estimated here at 0.5% of the loan a year. Your credit score moves it up or down.
  • FHA adds an upfront premium of 1.75% of the loan, rolled into the loan, and an annual premium of about 0.55% a year.
  • VA adds a funding fee rolled into the loan: 2.15% with less than 5% down, 1.5% with 5% or more, 1.25% with 10% or more (first use). Veterans with a service-connected disability rating don’t pay it. VA has no monthly mortgage insurance.
  • A seller concession can cover closing costs and prepaids, not the down payment, and each loan program caps it. Your lender confirms what’s allowed.
  • This answers how much cash, not whether you qualify. Loan limits, credit and income are your lender’s call.

Under contract

Three inspections worth doing

On most older Denver houses I recommend all three. Here is what each one covers.

  1. 01

    Standard inspection

    Structure, roof, plumbing, electrical, HVAC and more, in a written report we use to negotiate repairs or credits. I attend every one, and we go through the report together.

  2. 02

    Sewer scope

    A camera down the sewer line. Denver's older neighborhoods still run on clay tile, and a cracked or root-filled line is a four- to five-figure repair. Not optional on a house older than you are.

  3. 03

    Radon test

    Colorado has some of the highest radon levels in the country. A two-day test tells us whether the house needs a mitigation system, which is a common and fixable negotiation item.

Go deeper

Two things worth reading first

The rest of this page is the shape of the process. These two are the detail: what older Denver houses tend to need, and what to ask before you commit a number to paper.

Financing

Questions to ask a lender

Take these to any lender, including the ones I introduce you to. The answers tell you more than the rate does.

Connect me with a lender
  1. What type of loan do you recommend for me, and why?
  2. Do I qualify for any down payment assistance programs?
  3. What is the interest rate, and what is the APR?
  4. Will I pay mortgage insurance, and for how long?
  5. What will my monthly payment be, all in?
  6. Can I lock the rate? For how long, and is there a fee?
  7. What are my closing costs, and are they part of the loan or paid at closing?

Writing the offer

How we win without overpaying

Sellers weigh more than the number. These are the levers we choose from, and the most successful buyers are the ones who understand them before offer night.

  1. Price

    The obvious one, and rarely the only one that decides it.

  2. Inspection terms

    A quick inspection deadline and a promise to object only to big-ticket items gives a seller confidence without giving up your protection.

  3. Appraisal gap coverage

    Agreeing to cover some or all of a gap between appraisal and contract price wins competitive situations. Powerful, and only with a real read on value.

  4. Earnest money and timelines

    Stronger deposits and dates that fit the seller's life cost you little and matter to them.

  5. Contingencies

    Financing, home sale, HOA review. Each one protects you and each one is a chip. We decide together which to keep.

Writing

Recent posts

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Get in touch

Tell me what you're looking for

Tell me what you’re thinking about: a street, a timeline, a house you keep driving past. There are no wrong questions here. I read every note myself, and I’ll text or call you back within 24 hours.

5.0 on Google and Zillow · 73 client reviews
1900 W 32nd Ave, 3rd Floor
Denver, CO 80211

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