Real Estate in Colorado

If you are looking to purchase real estate in Colorado, then you need to know the towns and counties that are offering the best deals. It is important that you are aware of the law as well. For this purpose, make sure that you hire a good attorney and real estate agent. A real estate agent is held to a fiduciary duty to serve you. This is even backed up by state law. The law states that your agent must be: loyal, obedient, sincere, confidential, and diligent.

Disclosure of Important Facts

When you buy real estate in Colorado, it is important that you realize that your seller must disclose any problems there are with the property. Some examples include: plumbing problems, sewage problems, water leakage, termites or other insects, holes in the roof, heating or air conditioning problems, any problems with the title, property drainage problems, etc.

Closing Costs

Each state has different rules concerning the closing costs and who pays them. Even so, you and your seller may come up with your own agreement. These closing costs that you are responsible for include: down payment, loan fees, prepaid interest, inspection fees, appraisal, and mortgage interest. Costs your seller should pay include: broker’s commission, transfer taxes, documentary stamps, title insurance, and prorated property taxes.

Where to Buy?

The first place to look for real estate in Colorado is Jefferson County. There are currently more sellers than buyers in the area, so you are almost certain to get a great deal. Homes are selling in this area fairly quickly as well. The average price of a home is $400,000 and homes usually sell for 95 to 100 percent of the asking price. Another great place to find real estate in Colorado is Douglas County. This convenient location sets you up near the Denver/Boulder/Greeley metro area.

Real Estate in Colorado Springs, El Paso County, is well priced and you are sure to find a great deal in this real estate hot spot. There are more sellers than buyers, so you will have your choice of properties to choose from. Houses stay on the market here for roughly 90 to 120 days. There is a good supply of homes in all prices; they usually sell for about $225,000 though. Some of the better housing developments in the area include: Pine Creek, Flying Horse, Briargate, Cathedral Pines, High Forest Ranch, and Monument. Hopefully, this overview of real estate in Colorado has been of benefit for you.

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