Making an Offer

You know it when you see it.

 

You’re done looking—you’ve found the home you want.   Making an offer is the next step.

 

Pricing

Once you’ve identified the home, it’s imperative to act quickly and in writing. Verbal contracts are not enforceable in Colorado.  In all markets, the best homes—priced right—sell fast.

 

Several factors are involved in determining price, including comparable home prices, seller upgrades, seller motivation and length of time on the market. We gather comparable pricing information, evaluate it in the context of the home you’ve selected, and advise you on a pricing strategy.  You make the final decision on offer price and subsequent negotiations.

 

Financing and terms

We recommend reliable lenders and coordinate the terms of the loan with your lender. We always ask for a pre-approved letter specifying those terms. Even though terms can change later, assuring the seller that you have the ability to close on the property is a critical component of the offer.

 

Contract contingencies

We help you prepare and negotiate the contract. The Colorado Contract to Buy and Sell Real Estate includes provisions for inspection, title, insurance, survey, appraisal, loan, closing and possession, making it one of the most thorough real estate contracts in the country. We review the contract with you and ensure that you understand its components.

 

Negotiations

Initial offers are frequently met with counter offers.  We put the seller’s counter proposal into context, help you understand the seller’s “hot buttons” and provide suggestions for a response strategy.

 

Due diligence

Between contract and closing, we help you move through each of the provisions in the contract. We make it a point to stay on top of contract contingencies and nuances until the house is yours.

 

Typical contract provisions include:

  • Inspection regarding general condition, sewer line and radon
  • Title insurance
  • Community governing documents where applicable, eg. HOA
  • Home insurance
  • Appraisal to determine market value
  • Loan conditions

 

Coordination

We’re experts in detail management and follow-up, which is essential in the days between a signed contract and closing. To every extent possible, we handle any issues that arise, gather whatever information is required, and do the legwork that makes for a smooth transaction. We basically manage the process for you – keeping you informed along the way – but free to prepare for the move.

 

Not our job

Colorado law stipulates that real estate agents cannot:

  • Offer legal or tax advice
  • Guarantee that seller and lender will do what they promise
  • Warranty your house against defects
  • Guarantee that school boundaries, zoning or taxes won’t change

 

We’re prepared to talk through the issues and refer you to professionals who can help. Required documents help you make informed decisions:

  • Seller’s property disclosure forms
  • Professional property inspection
  • Purchasable warranty protection