For Sale By Owner
The real estate market has regained momentum in Colorado. The Denver Post reported that the average sale price for a single-family detached home in metro Denver hit a record of $371,650.00 in May of 2014. Listings are up 39% in May of 2014 compared to a year ago and they are up 15% since April of 2014. See Denver Post June 10, 2014, pg. 1. My office can help you to sell your house, if you have a buyer. I can prepare and review all of the paperwork which is necessary to pass clear title to the buyer. I can save you a lot of money on real estate commissions if you are selling your house to a family member, a renter or any other third party. I had some clients who were renting to their children and wanted to avoid capital gains on the sale so we transferred the property to the children within two years of the parents moving out of the home. This transfer saved the parents a big capital gains bill. I also help personal representatives sell houses owned by estates and/or transfer the homes to beneficiaries.
Attorneys cannot replace real estate brokers, they help you find a buyer and are experts on marketing your home. Real estate brokers are also more available than attorneys and can be reached after most normal attorney’s hours. But if you have a ready and willing buyer, you may not need a real estate broker. I can prepare the necessary paperwork to sell your home, or to help you buy a home. Of course, I do work with real estate brokers also, it is always a good idea to have additional representation, especially when unusual circumstances arise. My office has flat fees to represent buyers and/or sellers depending on the circumstances of the sale, like whether or not the seller is carrying the loan on the property. (We will not represent both buyer and seller because of conflicts of interest).
To complete most real estate sales, you must have a Contract to Buy/Sell, a title insurance commitment, and closing documents. Sometimes an amendment to the contract is necessary and oftentimes a buyer may submit an objection to an inspection. The closing documents are prepared by a title company and I contract with a local title company to produce the closing documents, a settlement statement (also called a HUD) and to report the sale to the IRS, if necessary. There is an additional cost for their services, but this is also a closing cost if you are using a real estate broker. Please contact my office if I can help you sell or buy a home.
This article was written by Tamra K Waltemath of Tamra K. Waltemath, P.C. This information is for general informational purposes only and does not constitute legal advice. For specific questions, you should consult a qualified attorney. Tamra K. Waltemath is an elder law attorney focusing on wills, trusts, estate and trust administration, probate and non-probate transfers, guardianships and conservatorships. She can be contacted at: Tamra K. Waltemath, P.C., 3843 West 73rd Avenue, Westminster, CO 80030; 303-657-0360; or visit her website at: www.WaltemathLawOffice.com.