READ THESE INSTRUCTIONS IN THEIR ENTIRETY TO AVOID HOLDING UP THE
PROCESSING OF YOUR OFFER!
BEFORE YOU WRITE YOUR OFFER PLEASE NOTE!!!!!!.....
Premiere Asset Services (Wells Fargo)
has a 5 business day hold from the date the property was listed in the
MLS. They will not look at offers at all until this time period has
elapsed. It is quite possible that, within the 5 business days,
there will be other offers submitted, in which case your buyer will need
to submit their highest and best offer. It is highly advisable to make
sure you contact our office first to find out if you will be in a
multiple offer situation so you can advise your buyer accordingly. IF IT
IS INDICATED THAT THERE ARE MULTIPLE OFFERS, THEN YOU MUST COMPLETE THE
MULTIPLE OFFER NOTIFICATION FORM. DOWNLOAD IT AND PRINT IT OUT.
THIS FORM MUST ACCOMPANY YOUR OFFER.
CLICK HERE TO ACCESS THE MULTIPLE
OFFER FORM .
Also, your point of contact with your
transaction is Melissa Fogler. Melissa is Jeff's daughter, a seasoned
broker and highly experienced in the REO Transaction process. Please
communicate with her via email
Melissa@5280Living.com
or our office phone 303-577-9700.
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DELIVER ACCEPTED CONTRACTS TO:
5031 S. Ulster St. Building 4, Suite 455 in the DTC. (Three blocks
East of I-25 and one block North of Belleview. (Just South of the Panera
Bread store.) 303-577-9700 office
1-888-240-9139 fax.
All Brokers must read,
print out and sign the Broker Acknowledgement Form!
Initial offers should be faxed first so that
we can inform you of any changes that will have to be made. Remember to
include copy of EM check and Lender letter with your fax..
Here are instructions to present an offer on one of our REO properties
(EXCEPT FANNIE MAE) correctly.
If these items are not submitted to
us as outlined below, and/or there are other significant errors. We will
ask that you do it again correctly. Our clients are very
particular (and so are we) about how the docs are completed.
The forms needed to submit an offer via fax or email are:
1. Standard Colorado Residential Purchase Offer.
(Current Version)
2. Copy of Earnest Money check made payable to
the title company specified in the MLS.
3.
Lender Letter
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OVERVIEW OF THE OFFER PROCESS:
After your faxed Purchase Contract with a copy
of EM check, Lender Pre-Qual letter, Broker Acknowledgement Form
and a LBP Disclosure (if built before 1978) are received by us,
we will submit your offer to the Seller. Normally we have a verbal response
within 48 hours. When and if your offer or counteroffer is verbally
accepted, we will contact you and go over any items in your offer that
need to be redone and or corrected. You will then need to deliver to our
office originals of the "clean and revised" contract and the other
items mentioned above. The originals must be delivered to us
within 48 hours after we have notified
you of the Seller's verbal acceptance. Keep in mind that the property will
not be marked Under Contract in the MLS until we have received the
Earnest Money check and the original "correct" documents. The originals
will be emailed or uploaded to the Seller for signatures. We normally
get the signed contract docs back within 1 week from the day we send them.
(Legally your offer is still only verbally accepted until we actually
receive the signed docs back from the Seller, but we consider the
property to be under contract after we receive your originals.)
________________________________________________________________________________________________________
COLORADO CONTRACT ITEMS:
NOTE: YOU DO NOT HAVE A CHOICE IN WHO IS USED FOR
TITLE INSURANCE. IT WILL BE CHOSEN BUY THE SELLER.
SELLER NAME: Insert "Seller of
Record."
EARNEST MONEY TO BE HELD BY: Often,
we are not informed of who the title company is going to be until the
offer is countered. Signature Brokers as a rule does not not hold
Earnest Money. Follow whatever is shown in the MLS. If it says TBD and
to call us, then do that.
INSPECTION DEADLINE: In the date
chart of the contract, please insert "7 days
After Verbal Acceptance" for both the Inspection Deadline and
the Inspection Resolution Dates. Keep in mind that these
properties are being sold "As Is," but your
buyer does have the right to conduct an inspection.
If the buyer wants to cancel the contract because
of inspection items, you must inform us within the 7 day Inspection
Period, or the buyer will waive their rights to withdraw the offer for
inspection related issues. NOTE: The Seller will
consider making repairs for safety issues such as furnaces, roofs, etc.
If you have such an issue that your buyer would like to ask the Seller
to pay for, then you need to discuss it with Jeff first. You will be
directed to prepare an Inspection Notice for your buyer to
sign.
Please keep in mind that IF the Seller agrees to make
repairs, it can possibly take 2 -3 weeks to get them done. The work must
first be bidded out, then a number of approvals need to take place
before any work can begin. Consider this when you are wanting a
fast closing.
(Title Insurance) Any additional premium expense to
obtain this additional coverage shall be paid by
BUYER .
(Survey) Costs
of any Surveys shall be paid by BUYER.
(CIC Docs) The Seller will not pay for, nor be
responsible to order any CIC docs. Your buyer will need to obtain these
if desired.
(Status Letter and Transfer Fee) Please check
the Buyer boxes. The Seller will not pay for this.
(Taxes) Check the box that says: Taxes will be
prorated base on the the most recent Mill Levy and Most Recent
Assessment.
(Transfer of Title) The deed that you must specify in your contract is Special Warranty.
Not
General Warranty.
(Attachments)
Insert the words
"Seller's Addendum." If built before 1978
add, "Lead Based Paint Disclosure."
Do not make references to any other disclosures or addendums because the
Seller
will not sign them. (Mold, Square Footage, Seller's
Property, etc.) (If the property was built before 1978, then you will
need to have the buyer sign a Lead Based Paint Disclosure.
___________________________________________________________________________________________________________________
SELLER'S ADDENDUM(S):
In most cases the Seller's Addendum(s) will be
provided to you after you have a verbal agreement.
___________________________________________________________________________________________________________________________________
Offer Submission Instructions:
Fax or email the Contract, Lender Letter and copy of the
Earnest Money Check to Jeff Fogler's
office.
jeff@5280living.com
FAX 1-888-240-9139.
After the offer is accepted please deliver originals to the S. Ulster St.
Address.
_____________________________________________________________________________________________________________________________________
Scheduling an Inspection:
During months when there's a potential for
freezing pipes, the property will be winterized. Give us a few days
notice before the inspection so that we can get water turned on at
the street (if necessary). Most of the time the water is just shut off
inside the property. You or your inspector will need to open the main
valve in the property to begin water flow. When the inspection is over,
you or your inspector will need to close the main valve in the property,
open faucets so that most of the remaining water will drain, and leave
the faucets open. Make sure
the main water supply valve to the property is closed before you or the
inspector leaves! We will then
get the property rewinterized.
Under Contract Period:
Please direct any Under
Contract issues to Melissa Fogler unless otherwise instructed. (See
below for contact info ).
_____________________________________________________________________________________________________________________________________
CONTACT INFO:
Jeff Fogler (Managing Broker) 720-937-5333 cell or 303-577-9700 office
jeff@5280living.com
Melissa Fogler (Broker Associate) 303-577-9700
melissa@5280living.com
Brooke Fogler
(Broker Associate) 303-577-9700
brooke@5280living.com
Robin Issac (Adminstrative
Assistant) 303-577-9700
robin@5280living.com
Jill
Williams (Accounts Payable/Receiveable/Utiltiies) 303-577-9700
reo@5280living.com
Office FAX# 1-888-240-9139