Sell your Northern Colorado House

The true market value of your home is what a buyer is willing to pay for it based on today’s market, competition, economic conditions and many other factors that we can help you determine.

The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same price  range and neighborhood. Other parameters include single-family or condo, number of bedrooms and baths, zip code, and many other factors. The purpose is to show a fair market value, based on what other buyers and sellers have determined through past sales, pending sales and homes currently on the market.

In Colorado, it is customary that the seller pays the full real estate commission for both the listing agent and buyer’s agent.  You should also expect to pay your own closing costs, which include title fees, transfer taxes, HOA fees, your mortgage pay off and then the cost of any repairs you agree to in the contract.  Remember you may also agree to pay for all or a portion of the buyer’s closing costs, or assist with a rate buy down.

Having one of our brokers acting on your behalf is the first negotiating tip. They are not emotionally involved in the deal and can often better negotiate in your favor because of this. Each situation is different and there may be different tactics and strategies to employ in depending on the circumstances.

The most common contingency clauses is called the Buyer’s Home Sale Contingency and it means that the buyer can end the home sale contract, without losing a dime, if their home doesn’t sell. This particular contingency is popular because most people can’t afford a new home without getting the money from selling their current home.  We can advise you, based off the current market, if accepting a home sale contingency is in your best interest.

A contingency is a clause in the contract that protects both parties of the transaction.  It allows both parties to terminate the contract if something either doesn’t occur (you don’t sell the house you live in currently) or is unsatisfactory (inspection on a home). There are standard contingencies in the Colorado real estate contract such as a contingency for inspection, loan approval, and delivery of free and clear title.

The list price is what you as the seller want to sell your home for (sometimes fair market value and sometimes not) and the sales price is the final price that you and the buyer determine fair market value and agree to sell your home for. Someone could list a property for $1million but that may not be the actual sales price or fair market value of the home.

You may help the buyer pay for their closing costs if they negotiate that as part of the contract. Typically, the maximum is 6% although most people don’t usually need 6% in closing costs for their loan. And, all loan programs and lenders are different.

Yes. In the State of Colorado, a seller is required to tell a buyer about any problems they have had with the property. One of the best ways for a seller to disclose this information is through the Seller’s Property Disclosure. In addition to you disclosing, if your broker knows about problems that have happened to the physical condition of the home (material fact), they are also required to disclose this information to a new buyer.

The best time to sell your home is when you have determined the time is right for you. For example, do you have significant equity built up in your current home, has your financial situation improved or changed, have you outgrown your home or neighborhood, are you comfortable moving in the current housing market, etc. Talk to one of our brokers about the pluses and minuses that might go into selling your home right now to see if it makes sense for you.

Not necessarily. Depending on the current real estate market we may suggest that you fix items in your home prior to putting it on the market or we may tell you to wait and see if a buyer requests the repairs in an inspection notice.  If you agree to do repairs on the home during the inspection process, you are held (contractually) to complete any repairs you agreed to. Some sellers wish to sell their homes in an “as is” condition and reflect their desire to do so in a lower price. You will also want to notify buyers up front that home is being sold as-is and that you are unwilling to do repairs prior to closing. All of this being said, it doesn’t mean that a buyer can’t request that you complete repairs on the home before they purchase…you may just not agree to do it.

In Colorado, the seller typically pays for a real estate brokers’ commissions, but it is always negotiable and there are times when a buyer may pay a portion or all of a real estate broker’s commission. It’s wise to ask your broker before you sign the listing agreement, what your specific situation might be as it relates to paying their fee.

A home warranty is a renewable yearly service contract that protects a home’s systems and appliances from unexpected repair or replacement costs due to a break down. Homeowners insurance does not typically cover mechanical failures, so a home warranty can help bridge the gap. The buyer, seller or real estate agent can purchase the home warranty for the buyer.

A home appraisal is an approximation of your home’s worth. It serves as peace of mind for the buyer’s lender or bank that the property being purchased has a certain amount of value. Home appraisals are conducted by an appraiser after the purchase price has been agreed upon by both the buyer and the seller.

An appraisal gap is the difference between the appraised value of a home and the purchase price in the sales contract. An “appraisal gap clause” is used in a sales contract to guarantee that the home buyer will cover the monetary gap (bringing cash to closing) between the appraisal and the sales contract if an appraisal gap becomes an issue.

A buyer’s agent works solely on behalf of the buyer to promote the interests of the buyer with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts asan advocate for the buyer.

‍A seller’s agent (or listing agent) works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty and fidelity. The agent negotiates on behalf of and acts as an advocate for the seller.

‍A Transaction Broker or TB assists the buyer or seller or both throughout a real estate transaction by performing terms of any written or oral agreement, fully informing the parties, presenting all offers and assisting the parties with any contracts, including the closing of the transaction without being an agent or advocate for any of the parties.

‍A customer is a party to a real estate transaction with whom the broker has no brokerage relationship.