A4HB Homebuyer's Blog

2.5.4 Title Related Documents

Title Documents In Colorado you will encounter two title related documents in almost every real estate purchase. The title company issues a Title Commitment.  This document outlines the terms under which they will insure the Buyer’s ownership or “title” to the property. If you are buying a single-family home, not a condo or townhome, the lender may require a survey of the property.  A survey indicates the location of the property boundaries and any improvements such as the home, garage, decks, and so on. And, finally, prior to closing, the title company will prepare a balance sheet for you.  This

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November 9, 2017 No Comments

2.5.3 Home Inspection Related Documents

Home Inspection Related Documents Once you’re under contract, you should have a professional home inspection. Once you’re under contract and have received the seller disclosures required under your purchase contract, get a professional inspection.  Most of the inspectors we work with will produce a detailed written report on the defects and concerns they have with the home. They also create a longer, descriptive report with additional information on the home. This might include the type and age of the furnace and the amount of insulation in the home. The state has provided a standardized form used to outline the Buyer’s

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November 9, 2017 No Comments

2.5.2 Lender Documents

Lender Documents There are several forms that you’ll use in working with lenders, and these are highly standardized. Early in the process, you’ll run into the Loan Application form and the lender’s Good Faith Estimate.  These are both lender documents.  The application form requires little explanation. The good faith estimate is the lender’s attempt to give you a reasonable estimate of all the costs involved in purchasing a property. To determine whether the sales price is reasonable, the lender will hire an appraiser.  The appraiser will do an evaluation of the value of the property, called an Appraisal.  The appraisal

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November 9, 2017 No Comments

2.5.1 Colorado Contract Forms

Colorado Contract Forms Like many human endeavors, real estate is done both in person and on paper. In this section, we provide access to many of the documents that you’ll encounter in the course of buying a home. The Colorado Real Estate Commission standardizes all the common contract forms in use in Colorado. For example, some of the more common forms you will encounter as you take the initial steps in the home buying process are below. WORKING RELATIONSHIPS WITH REAL ESTATE AGENTS The state’s brief definitions of the legal relationships you can establish in working with real estate agents

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November 9, 2017 No Comments