Real Estate FAQs

The Joan Pratt Group is a top real estate team in Castle Rock, CO, helping buyers and sellers navigate every step of the process with confidence.

When is the best time of year to buy or sell?

In Colorado, spring and early summer bring the most listings, while fall and winter can mean less competition and motivated sellers. With the right strategy, any season can be successful.

Can I sell before I buy, or buy before I sell?

Both options are possible! We’ll help you weigh timing, financing, and market strength. Many clients use a post-closing occupancy or a bridge loan to make the transition smooth and stress-free.

What’s included when I sell my home?

Typically, anything “attached” stays—like built-in appliances, light fixtures, and window coverings. Personal items (like furniture or décor) can be negotiated separately. We’ll outline everything clearly in your contract.

How do showings work once my home is listed?

We coordinate all showings through a secure system. You’ll get alerts for each request, and we’ll help you plan around your schedule. Our team ensures your home looks its best and that feedback is shared promptly.

What happens after my offer is accepted?

We guide you through the next steps—earnest money deposit, inspection, appraisal, loan approval, and final walk-through. You’ll have clear timelines, reminders, and full support all the way to closing.

Do I need to be pre‑approved before touring homes?

Pre‑approval strengthens your position and helps us set the right search parameters. Many sellers require proof of funds or a pre‑approval letter before confirming showings, especially for higher‑price properties.

What is earnest money and is it refundable?

Earnest money is a good‑faith deposit (often 1–2% locally) applied to your purchase at closing. In Colorado, it’s typically refundable if you terminate within contract deadlines (inspection, appraisal, loan, title, etc.). We’ll track those dates tightly.

What should I expect during appraisal?

Once you’re under contract, the lender orders an appraisal to confirm value for the loan. We make sure the appraiser has all relevant upgrades and comps so your home’s true value is represented.

What’s an appraisal gap and do I need one?

An appraisal gap clause says you’ll bring extra cash if the appraised value is below the purchase price. It can be a competitive edge, but we’ll right‑size it based on comps, your financing, and risk tolerance.

Conventional vs. FHA vs. VA—what’s the difference?

Conventional loans often have stricter credit/debt guidelines but fewer property restrictions. FHA offers flexible qualification with mortgage insurance. VA (for eligible veterans/servicemembers) requires no down payment and no monthly MI. We’ll align the loan with your goals and the property.