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.)

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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:  Contact our office for this.

 

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.