For Sale By Owner
Some buyers and sellers in the Estes Valley complete a sale without a real estate broker, often because they already know each other (e.g., a sale to a neighbor, a tenant or a family member). Colorado does not require a broker for the sale of real property. Someone still has to prepare the contract, track the deadlines, deliver the required disclosures and coordinate the closing, and Elkhorn Law handles those tasks for the buyer, the seller or (with the written consent of both) the two of them together.
What We Prepare
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The purchase contract. A written contract for the sale, setting out the price, earnest money, financing, inspection and title deadlines, and closing date. The Colorado Real Estate Commission publishes standard forms for brokers; for a private sale, we prepare a contract suited to the parties and the property.
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Disclosures. The seller’s property disclosure, the federal lead-based paint disclosure for homes built before 1978, and, where the property is in an association, the association’s governing documents and financial information.
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Title and closing. We open the transaction with a title company, review the title commitment for liens, easements and other exceptions, and coordinate the closing, where the title company handles the funds and records the deed.
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The deed. We prepare the deed and the Real Property Transfer Declaration which accompanies it (see Property Deeds).
Points Particular to Mountain Properties
Properties in and around Estes Park raise issues that a standard contract may not address, such as access by private road or easement, well and septic systems, and the transfer (or non-transfer) of short-term rental licenses. Where the seller is carrying financing, we also prepare the promissory note and deed of trust.
Representing One or Both Parties
Elkhorn Law can represent either the buyer or the seller. Where the parties are family members or friends and their interests are closely aligned, the firm can also represent both of them, with the informed written consent of each. Before asking for that consent, we explain what joint representation means, including what we can and cannot do for each party if they come to disagree.
If the property is being transferred to family members without a sale, see Property Deeds, Family Cabin LLC and Family Cabin Trust.
See also 10 Things to Know Before Selling Your Home Without a Realtor.