Home values in The Centennial State have increased by 23.9% in the last year. Real estate commissions too have reached record levels.
Most of Colorado is a hot seller’s market. This guide summarizes key steps to selling real estate in Colorado.
» Jump To
- Best Time to Sell
- Pricing Your Home Right
- 3 Ways to Sell Your Colorado Home
- Prepping & Marketing Your Home
- Managing Showings & Offers
- Paperwork in Selling Your Colorado Home
- Closings in Colorado
- Final Word
- Frequently Asked Questions
1. Best Time To Sell Your House In Colorado
If you want to sell a house in Colorado, you will have to understand which time of the year is most beneficial to sell the property.
The annual average days on market (DOM) for selling a house in Colorado is 44 days. For instance, in Colorado Springs, Colorado, July appears to be the best month to sell your home.
Because it takes around 3 months to close on a home, it can be said that if you list your home in Colorado Springs in April, you’ll be able to sell it for 6.28% more than the annual average selling price.
» Best Time to Sell a House in Colorado: Know When’s The Best Time to Sell a House in Colorado.
2. Price Your Home Competitively
As a seller, pricing your property right is important. It is also important to keep in mind that the price you list your home at determines the popularity of your listing and brings in foot traffic. The list price itself doesn’t determine what your sale price is.
REMEMBER! The purpose of the LIST PRICE is to ATTRACT BUYERS to your listing. Your LIST PRICE is not your SALE PRICE!!!
What happens if you under-price or over-price your listing?
|If you price it too low||It is most likely that you will get multiple offers. You’ll likely go for “Highest & Best Offer” or counter the best offers to finalize the sale price with the buyer. And you will sell at market price|
|If you price it too high||You will get little traffic. It’ll make you drop the price, and you will sell at the market price|
Regardless of whether you price it too high, or too low, you’ll likely sell at the right market price. Real estate professionals will typically price the home just a tad bit lower to attract foot traffic and get multiple offers. It’s likely that multiple offer situations if handled right can even drive up your final sale price above the market price of that property.
Real estate agents in Colorado create what’s called a Comparative Market Analysis (CMA) to determine what’s an ideal listing price for a property. If you are opting for “for sale by owner” (FSBO) then you can easily create your CMA with Zillow and Redfin and understand how to sell a house by owner in Colorado or any other state works.
3. Options For Selling Real Estate In Colorado
You have various pathways when it comes to selling a house in Colorado. Selecting the right one at the right time can help you save thousands of dollars.
Option 1: Sell Your Home For Sale By Owner
One way to bypass the hefty Realtor commissions in the state of Colorado is to sell your house For Sale By Owner (FSBO). It is a DIY approach with no listing agent involved. Sellers have maximum control over the entire process but have to handle all the paperwork with no oversight.
The idea of selling your home in Colorado FSBO has its drawbacks. Though you save up on the commission money, you will have to handle everything – listing, marketing, negotiations, closings, etc. – on your own.
» Free Websites to List For Sale By Owner: Check Out the Best For Sale By Owner Websites in 2022!
🚩 Key Downsides of Selling Your Home For Sale By Owner:
- No MLS Exposure: MLS is the most important tool an agent has. Selling FSBO means limited exposure, so there will be less competition for your property. That will likely reduce the selling price. One study found that homes on the MLS sold for 17% more than homes not on the MLS.
- No Help If You Need It: If you need help with paperwork, inspections, negotiations, or closing, you’re on your own as a For Sale By Owner.
» For Sale By Owner Contract CO: How To Create A For Sale By Owner Contract in Colorado.
Option 2: List With A Traditional Full-Service Agent
You can always hire a full-service agent to help you sell your home. From listing to closing, the agent will help you with everything. But of course, you’ll be paying a full 2.5% to 3% listing agent commission.
🚩 Key Downsides of Listing With a Traditional Full-Service Agent:
- Hefty Commissions Will Cost You Thousands: Average real estate commission in Colorado is 5% to 6%. That’s thousands of dollars of fees in commissions.
- Limited Control Over Your Sale: Everything will go through an agent. That reduces the risk that you will do something wrong, but will also limit the control you have over your transaction. For almost everything, including if a counteroffer was submitted, the status of your closing, and how many showings you’ve had, you’ll have to reach out to your agent.
- Slow & Manual Process: Agents do things manually. A simple price change is several steps – the agent has to talk to you over the phone, create a price amendment, get you to sign it, then they sign it, and only then can they update the price on the MLS.
Best Option: For Sale By Owner with a Flat Fee MLS Listing
The average realtor commission in Colorado for a house sold at $450,000 is around $27,000. Listing with a high-tech website like Houzeo.com saves you the listing agent commission. In addition, it gets you maximum exposure to the MLS and helps whenever you need it.
✅ A Flat Fee MLS Listing Service Combines the Best of Both Worlds:
- Save Thousands in Commission: Instead of paying a 5% to 6% listing agent commission, you just pay a $300 listing fee.
- Maximum Exposure: You get full exposure to the MLS, Zillow, Realtor.com, Redfin, and hundreds of other websites.
- Help When You Need It: Services like Houzeo.com offer the “Contract to Close Coaching Package”. So if you need help during the transaction at any time, a licensed broker is there to help you sell!
- Full Control Over Your Sale: You retain full control over when to sell and who to sell. Houzeo captures all leads and displays them on your dashboard. All offers and showings are summarized online, along with the buyer’s or their agent’s contact info. It doesn’t get easier.
- Fast Listing & Changes: Houzeo is 100% online, and allows you to request changes instantly. Contracts are auto-generated, and turn-around times are fast!
- A-la-carte Options: Need a yard sign, ShowingTime, or lockbox? You can purchase them easily from your Houzeo dashboard!
Best Flat Fee MLS Listing Company In Colorado
Houzeo, an online real estate tech company, provides an unbeatable combination of maximum savings, cutting-edge technology, and 5-star customer support.
💰 Save Thousands on Commission: Houzeo’s plans are typically a small flat fee. This will save you thousands. If your buyer is unrepresented, you save the buyer agent commission as well.
📣 Maximum Exposure: Listings get syndicated to the MLS, Zillow, Realtor.com, Redfin, Trulia, and hundreds of other websites. Houzeo also has nifty social media sharing tools. No other platform gives you this much exposure.
⚡ Fast Listing & Changes: Houzeo is 100% online. Listing is easy and changes are fast. So you can focus on what is most important – your sale.
⭐ 5-Star Customer Support: Home sellers across America have rated Houzeo 4.9 out of 5 stars on major review sites like Google and Trustpilot. There is comfort in the fact that when you call, there is a live person picking up the phone on the other line.
📱 Cutting-edge Technology: Houzeo is the most powerful real estate website. Its advanced features include:
- IntelliList Listing Management System: Lets you manage your listing 100% online.
- Houzeo Showings: Manage showing appointments online.
- Houzeo Offers: All offers are summarized online. You can view and compare offers, or counter an offer. In a multiple-offer situation, you can also call for highest and best offers.
- Buyer Search: Buyers can contact you directly on Houzeo.com instead of going through a real estate agent.
- Houzeo Settlement Agent Platform: Guides you to your closing.
👉 Our Take: Houzeo.com is our top pick because it delivers an unbeatable combination of savings, tech features, and service of any flat fee MLS listing service website we’ve reviewed.
Houzeo Reviews: Houzeo is 100% online. You can finish the listing formalities in less than 60 mins.
- Nationwide coverage.
- Listings get syndicated to Zillow, Realtor.com, Trulia, Redfin, and 100s of other sites.
- Quick listing (within a day with concierge).
- Savings on commissions.
- 100% online – easy listing, fast changes, online showings, and online offers.
- Mobile app availability.
Houzeo is available nationwide.
» Flat Fee MLS Colorado: Research The Best Flat Fee MLS Companies in Colorado.
Option 3: Other Discount Real Estate Brokers
Apart from Flat Fee MLS Listing Companies, there are three other types of discount real estate brokers you can choose from.
Flat Rate Brokers
A Flat Rate is a fixed amount the seller pays the broker. Flat rate brokers are predominantly full-service brokers. They handle everything from listing to closing. These fees are fixed and do not change as per your home’s services or the selling price.
A flat rate is perfect for homes priced on the higher end. Let’s say your house is valued at $450,000 and you pick a flat-rate pricing model of $3500 listing fee. If you opt for the traditional agent route, you would have to pay a realtor commission of around $27,000.
Apart from the buyer agent commission, you will also be responsible for concessions, escrow fees, and warranties.
Our Top Pick For Flat Rate Brokers
Homie, another low commission real estate broker, works with a flat fee listing of $3500. This is very reasonable when compared with traditional Realtor commission but may be significant for low-value homes.
Homie does not provide in-person support which means that seller has to put in more effort to get their listing rolling. That being said, Homie does provide remote low commission Realtor support but it makes the selling process a bit slower.
Like with some other low commission Realtors, the platform has a limited number of agents which cater to a large volume of customers. This means a compromise on quality. Also, the add-on features included as part of the packages are not value for money.
Homie is out of 5 on Google
Homie covers only Arizona, Colorado, Idaho, Nevada, and Utah.
Low Commission Real Estate Agents
A Low commission realtor or an agent is a discount real estate broker who works on a lower commission rather than the traditional 3% commission.
With the rise of the flat fee model and commission-based models, real estate commissions have been falling gradually. This makes low-commission real estate companies in Colorado more relevant to sellers nationwide.
Generally, a low-commission Realtor in Colorado works at commissions like 1%-2% instead of the traditional 3%.
Our Top Pick For Low Commission Realtors
Trelora is a low commission brokerage that comes with a couple of “Full Service” packages that are priced at 1% and 2% respectively.
Trelora’s limited number of agents cater to thousands of customers leading to degraded customer service quality most of the time.
The platform does not align a single agent to a seller, but various low-cost real estate agents help the seller at different stages. This looks efficient but could backfire because of multiple people involved. The packages as part of Trelora contain add-on features like professional photos, yard signs, marketing, and more.
Trelora has an average rating of out of 5 on Yelp.
Trelora covers only Arizona, California, Colorado, Georgia, Missouri, North Carolina, South Carolina, and Washington.
Virtual Full Service Brokers
A virtual full-service broker does everything a traditional broker would do i.e. listing, marketing, pricing, negotiating, etc. The only difference is that a virtual full-service broker would do all of these online i.e. virtually.
Because of their cloud-based presence, they have many advantages. Such as lesser fees, discounted commissions, and much better management and marketing support. Many MLS listing companies like Houzeo, also provide full-service options that are 100% online.
Our Top Pick For Virtual Full Service Brokers
- Online showings through Houzeo Showings
- Mobile Application
- Fast changes to your MLS listing
- Listing syndicates to hundreds of other real estate websites, and a lot more
*We could not find any other reputable virtual full-service company in Colorado.
What If I Want To Sell My House Fast In Colorado?
Due to some reasons, a seller may want to sell his/her house fast in Colorado or any other state. Here’s what you can do in such cases:
|Sell Your House As Is||Selling a Home AS IS in Colorado can help you save hundreds of dollars by bypassing the repairs. This also ensures that your house is sold fast.|
Selling a house as is can be done via a real estate wholesaler as well. A wholesaler is an investor who buys your house in the existing condition and sells it for a higher profit.
» More: Selling A Home As Is: A Step-By-Step Guide For Sellers
|Sell Your House For Cash In Colorado||If you want to sell your house fast in Colorado then selling it to cash companies can be a very good option. They can offer you cash right away and ensure your house is sold quickly. There are various types of cash companies that can ensure that the deal is closed instantly.|
» Cash Buyer for Homes in Colorado: Discover The Best Companies that Buy Houses for Cash in Colorado.
|Offer Your House To A Flipper||Flippers in real estate are buyers that buy a property in its existing condition, repair it, and sell it at a higher price. Selling your house to a flipper will help you save time and dollars.|
» Sell House Fast Colorado: Discover Best Ways to Sell Your House Quickly in Colorado.
- ✍️ Pro Tip: Consider selling your Colorado home to an iBuyer
iBuyers are companies that will buy your home for cash outright. They use technology to make an instant offer. This gives them an edge over the traditional cash companies. The price is decided with the help of their proprietary algorithm, recent real estate data, and their in-house experts. An iBuyer can offer and close the deal within 24 hours.
»Explore: iBuyers Reviews: Selling Your House for Cash in 2022
» How to Sell My House for Cash Colorado: How Do I Sell My House Fast for Cash in Colorado.
4. Prepare and Market Your House For Sale in Colorado
A clean and well-prepared home combined with the correct marketing strategy can help you attract a large number of buyers.
Get My House Ready
Whether it is Colorado or any other state, you need to take care of certain things if you are thinking of selling your home without a realtor. Here is what you need to do:
|Declutter & Depersonalize||Make sure you eliminate anything that may bring a feeling of personalization from your perspective i.e. you need to make the buyers imagine as if it is their home. This means removing your personal belongings, etc. before the showing.|
|Make Repairs||If your home requires any necessary repairs, make sure it is done before you start the process of selling. This may help later when the inspection is done.|
|Repaint Neutral||You can attract a higher number of customers when you paint your home with neutral colors.|
|Improve Curb Appeal||Go for clear landscapes, fresh flowers, or exquisite paintings because the first impression is everything!|
|Implement staging||The best way to sell a property is by hiring a home staging professional. They would be able to utilize the spaces and furniture cleanly and attractively.|
» Colorado Home Staging: Check Out the Best Home Staging Companies in Colorado.
Market My Colorado Home Professionally
Almost 95% of home buyers search and review homes online. So, being online is the #1 priority for the sellers. A good online marketing strategy can make a difference in getting your house sold.
Here’s what you need to do if you are in for selling a house in Colorado by the owner or any other state:
|1.||List on the MLS||Homes listed on the MLS sell faster and for 17% more. This doesn’t mean you need to hire a listing agent and pay that extra commission. You can work with discount real estate brokers in Colorado to get MLS access. A Flat Fee MLS Company like Houzeo can be a very good option to list your home in Colorado. |
Houzeo will help you save the hefty realtor commission and get your property maximum exposure. All of this, just for a small flat fee!
✍️ Pro Tip: Research the best For Sale By Owner Websites to sell your house by owner
|2.||Get a Yard Sign||Opting for a yard sign can be a good investment when selling a home in Colorado. It can help in attracting buyers from the neighborhood. On a crowded street, an attractive yard sign can drive the attention of potential buyers. |
Houzeo’s yard sign can help you with this. Houzeo custom yard sign comes FREE with a selfie and it is available for $49 only!
✍️ Pro Tip: If you secure a buyer from a yard sign, chances are you’ll save on the buyer agent commission as well. In a nutshell, it is worth the $49 investment.
» For Sale By Owner Yard Signs: Check out the 7 best FSBO Yard Signs!
|3.||Share Your Listing on Social Media||Share your property listing on social media. This will include your contact info apart from the listing details. If you share your listing on Zillow or Redfin, all the leads your listing generates will be sold to buyer agents who’ll demand a competitive buyer agent commission. Houzeo, on the other hand, doesn’t sell your information or leads. All buyer leads see your contact info, so you might save on the buyer agent commission.|
✍️ Pro Tip: If you secure a buyer from social sharing, chances are you’ll save on the buyer agent commission as well.
|4||Hire a professional photographer||As a seller, you can hire professional real estate photographers in Colorado to create a portfolio of your house. Professional pictures can greatly impact the selling process by attracting more buyers. |
Photographers charge on an hourly basis. For example, in Denver, you would have to pay around $440 for a two-hour real estate photo shoot. Whereas, you would have to shell out about $429 in Boulder for the same duration.
✍️ Pro Tip: Professional photographer can collate a portfolio that otherwise may not be possible if you are taking up the job.
» More: Create Your Best Listing Photos
|5||Run ads||When selling real estate in Colorado, running ads on print and social media can help you attract more buyers.|
✍️ Pro Tip: Try to cover as many social media channels as possible to initiate ads for your listing.
With Houzeo, you can market your property to a large audience as it gets listed on the MLS and other real estate websites.
5. Manage Showings And Negotiations
Once you have prepared your house for sale in Colorado, showing it to buyers is the next step.
How To Manage Showings When Selling A House In Colorado?
Once your property is ready for showings, it is critical to manage the showings effectively. You can either opt for online showing tools or host an open house.
Online Showing Tools
Online showing tools provide home buyers and their agents with a frictionless way to request and schedule showings.
Houzeo Showings, a cutting-edge solution by Houzeo, helps buyers and buyer agents to choose a particular showing slot as stated by the seller. The tool also provides features like rescheduling, updating, canceling, requesting, and more.
|1.||Home Sellers Can Set Their Showing Calendar||Buyers and buyer agents should only be shown times when the property is available for showing. This saves time for all the concerned parties.|
|2.||Buyers & Buyer Agents Can Request & Reschedule Showings||Make sure that buyers and buyer agents can request showings at available times. In addition, they should be able to reschedule and cancel on an ad-hoc basis.|
|3.||Buyers & Buyer Agents Can Provide Feedback on the Listing||Feedback from buyers and buyer agents is critical for home sellers because it allows them to assess their property (priced too high, the backyard needs fencing, rooms need whitewashing, and more). Where the feedback is actionable, small remedies can go a long way in improving showings and attracting top dollar for your property.|
Introducing the Houzeo Mobile App!
- View your listing
- Review and compare offers
- Manage showings with Houzeo Showings
- Counter an offer
- NEW! Buyers can now search your property and save it in “Favorites”
Hosting Open Houses
92% of home buyers find open houses useful. If your house is located in Miami or Naples or any other prime spot in the Colorado housing market, more buyers would be interested in buying. In such cases hosting an open house would be more feasible.
- ✍️ Pro Tip: You might attract unrepresented buyers, saving you the entire buyer agent commission.
Here are a few things to keep in mind when hosting an open house in Colorado:
|Ensure Your House Is Ready||Buyers would not want to see a house with a leaky roof or broken doorknobs. Thus make sure you have fixed all the defects and made all the necessary repairs beforehand.|
|Choose A Correct Time||People are busy on weekdays. Thus hosting an open house on weekends, preferably a Sunday, would be best. Also, you need to take care of the time of day. Usually, afternoons are the ideal choice.|
|Post Open House Online||As per the National Association of Realtors, 93% of buyers rely on the internet for their home searches. Thus, posting online will make potential buyers aware of the open house. You can also list your open house on the local MLS, real estate websites like Zillow & Trulia, Facebook, etc.|
|Give Visitors Their Space||During the open house, you might want to stay away from the property. This would give them the desired space to explore at their convenience. Also, it will help them in visualizing their future in the house.|
|Get Your Neighbors Involved||You can invite your neighbors to the open house. Even if they may not be interested in purchasing your Colorado home, they would spread the word.|
How To Negotiate Offers When I Want To Sell My Home In Colorado?
Counteroffers and requesting the highest & the best offer are the two tools of negotiations when selling a house in Colorado or any other state.
Most brokers or brokerage companies will give you complex forms to counter an offer, or to request the highest & best one. Houzeo has digitized these, so, you can counter or ask for the highest & best with just a few clicks!
|#||Advanced Tactic||When to Use||How to Use|
|1.||Counter an Offer||Single or Multiple Offer Situation||Your best offer is not just the highest one but is also competitive across several parameters: deposit, financing, inspection contingency, closing timeline, etc. When you want to counter an offer, you can request any of the mentioned parameters updated as per your preferences.|
▶️ Learn more: How to counter an offer on Houzeo
|2.||Request Highest & Best Offers||Multiple Offer Situation||If you have multiple offers and a timeline by which you’d like to pick an offer, you can call for Highest & Best offer from all the interested parties.|
▶️ Learn more: How to request Highest & Best offer on Houzeo
Also, negotiating offers means focusing on other factors like contingencies, concessions, responsibility, and more.
6. Documents Needed To Sell A House In Colorado
A lot of paperwork is needed to sell your house in Colorado. Though your realtor takes care of all the paperwork on your behalf, you need to be aware of them.
Seller’s Property Disclosure In Colorado
You need to have the following disclosures when selling real estate in Colorado:
|Seller’s Disclosure Notice||A disclosure document that states any known issues in the house including appliances and any other systems.|
|Lead Paint Disclosure||Specifically for homes that were built before 1978. Federal law requires the seller to disclose any dangers related to lead-based paint.|
|Flood Zone Statement||A buyer’s lender may require the concerned property’s flood hazard disclosures report before providing the loan. This could be important in mortgages that are backed by the federal government.|
|Property Tax Disclosure Summary||This disclosure summary specifies to the buyer that current property tax can’t be taken as a reference to calculate future property taxes. Change of ownership or any revamp may lead to a reassessment of the property leading to property tax re-evaluation.|
|Colorado Radon Gas Disclosure||A seller needs to disclose a known radon defect on their property. Apart, sellers also need to provide an educational radon disclosure statement.|
|The Green Disclosure||The Green Disclosure (Energy) form tells the buyer about the seller’s current knowledge of the property’s energy-related attributes.|
» Colorado Real Estate Seller Disclosure Laws: A Guide to Ace The Disclosure Process in Colorado.
Mandatory Documents For Selling Real Estate In Colorado
Review these documents at length and understand their provisions. Here are some key documents you’ll likely need when selling a house in Colorado:
|Colorado Real Estate Purchase Agreement||It is a Standard Form of Real Estate contract that details the terms of transactions to which buyers and sellers agree. It contains aspects such as sale price, financing contingencies, property description, etc.|
|Statement of Closing Costs||This statement summarizes all the expenses involved in the transaction. The document is not complicated and can easily be taken care of.|
|The Deed||This document enables the legal transfer of title from the seller to the buyer. Read this document carefully, verifying all details including the legal description of the property, the deed book, the deed book page, and the Property Identification Number (PIN), if any.|
|Certificate of Title||It allows you to state that you have the right to sell the property.|
|Bill of Sale||Information about the seller and the buyer with the selling price. This is important as part of the process of selling a house in Colorado because it contains all the base information about the property.|
Possible Additional Documents
The below table showcases some more documents that may require in selling a house in Colorado:
|Loan Payoff||In the case of a mortgage, you need to provide proper documentation if the disbursement of the loan amount has been completed. Else, you need to provide how much you still owe.|
|HOA forms||If the house is part of HOA, the seller needs to give the buyer all the documentation on restrictions, fees, financials, and more.|
|Survey papers||The documentation defines the location and the dimensions of the property. This is important while selling your home in Colorado.|
|Home Inspection||Contains all the details about the inspection of the property.|
|Repairing Proof||While selling a house in Colorado, if the seller has made repairs to the property before the sale, he/she needs to furnish the relevant documentation.|
|Home Warranty||Contains all the coverage of the property, time span, and cost.|
|Closing Disclosure||Proof that the seller agreed to buyer concessions. The disclosure is provided to the lender.|
|Power of Attorney||While selling inherited property in Colorado, the seller needs to furnish the details of the history and how the property was passed onto him/her.|
|Affidavits||A seller will need to provide a few affidavits like name affidavit, non-foreign, etc. This may also include affidavits like “Affidavit of Title” which discloses that you are the rightful owner of the property and that there are no liens on the property.|
|Correction Agreement||In case there are any errors in the documentation, you may be required to correct those errors.|
Bring TWO Forms of Official ID
There will likely be a licensed notary involved in the closing process who’ll require you to swear on your identity. You would be required to furnish identity proof (like a passport, driving license, or any other authorized document) during the process. However, the closing process might require you to produce secondary identity proof.
7. Closing On Your Colorado Home
The closing process in the state of Colorado is handled either by the broker, the title company, or an attorney. Your realtor and settlement agents usually handle the legalities. But you still need to be prepared for a few things during closing.
Take Care of Title, Appraisal, And Inspection
|Title Insurance Colorado||Colorado does not require owner’s title insurance, but any mortgage company will require you to purchase a lender’s title insurance policy as part of the home sale.|
|Appraisal||A money/mortgage lender typically goes for a home appraisal to identify what is the appropriate value of a particular property. Based on the outcome by licensed appraisal agents, the lender decides the amount that should be part of the mortgage. This is crucial while selling a house with or without realtors in Colorado (or any other state) as it keeps the buyer protected from unwanted sale prices.|
|Inspection||Inspection is also part of the process where licensed individuals scan the property for any issues. If there are defects, re-negotiations might take place between the seller and the buyer. The inspection includes everything from property worth, neighborhood, parking space, and more. CO Inspection Requirements will help you understand the inspection process in Georgia better.|
» How Much Is Title Insurance in Colorado: An In-Depth Guide About How Much is Title Insurance in Colorado.
Overall Cost Of Selling A House In Colorado
It should be noted that realtor commission and sale price are not the only two things that are involved from a real estate transaction perspective. In Colorado, there are multiple other fees involved while selling a house that should be known to a seller and is crucial for Colorado home sales. Here’s a list to get you started:
The list will also help the seller in getting an answer to the question – What fees are associated with selling a house in Colorado?
|Transfer Tax||Also known as Documentary Tax Stamp Colorado, it is a tax levied by the state or counties on the transfer of ownership. The value is one penny for every $100 of the purchase price.|
|Capital Gains Tax Colorado||You are required to pay a tax on the capital gain of the property. A capital gain is a difference between the amount for which a property was bought and the amount for which the property is sold.|
|Title Insurance||Title insurance protects the buyer if an important chain of title ownership is missed by the Title agent/company which could cause issues later. The premium can be paid by either seller or buyer based on the negotiations.|
Title Insurance is calculated based on the Colorado home sales price, and loan amount.
|Home Warranty||A seller may go for a home warranty if some components of the home (water heater, air conditioner, fans, etc.) require attention. This will benefit buyers in case a component of the home breaks down later. The average home warranty costs vary between $822.81 and $1,302.03 (average).|
|Appraisal Fees||An appraiser is hired to determine the actual price of the property. The price of the appraisal process depends on various factors such as property type, size, and location. It is usually paid by the buyer.|
In Colorado, home appraisal cost is between $340 and $495, depending upon the type of property.
|Inspection Fees||Home inspection in Colorado would cost $250 – $350, for an average-sized home. This can go up to $1000+ for larger homes.|
|Survey Fees||A survey of the property is generally carried out before the purchase deal. It includes all the features related to the property. In Colorado, this typically ranges within $200 and $1,000.|
|Attorney Fees||This fee is optional as it is not required to hire a real estate attorney in Colorado but is highly recommended. A real estate attorney can help you with the documentation and other closing processes.|
|Settlement Costs||In Colorado, the closing process is handled by a title company or an attorney. It costs about 2% (average).|
|Other Costs||Apart from the stated costs, multiple other costs are involved to sell a home in the state of Colorado. These can be HOA fees, appraisal fees, pest control fees, recording fees, estoppel fees, and any other as imposed by the city/county. Apart, costs will be incurred for staging and preparing homes for sale.|
» Colorado Real Estate Commission: Know The Exact Real Estate Commission Rates in Colorado.
Who Pays Closing Costs In Colorado?
If you are concerned about who pays closing costs in Colorado, then you should be aware of the various closing costs that are involved when selling a house in Colorado. Most of them are customarily paid by sellers whereas a few of them can be negotiated.
|Closing Costs||Seller Responsibility|
|Realtor Commission||Sellers have to pay 5.50-6% realtor commission|
|Settlement Fees||Negotiable between buyer and the seller|
|Title Insurance||Typically sellers pay for the title insurance but it can be negotiated|
|Survey Fees||Often paid by the buyer but can be negotiated|
|Home Warranty Fee||Sellers pay the home warranty fee|
|Home Inspection Fee||Generally paid by the buyer|
|Home Appraisal Fee||Typically paid by the buyer|
» Seller Closing Costs in Colorado: Everything You Need to Know About Seller Closing Costs in Colorado.
How Much Are Closing Costs In Colorado?
If you are concerned about how much are closing costs in CO then know that the amount of money you will spend on closings while selling a property in Colorado could depend on a lot of factors like the REALTOR’S commissions, the number of taxes, and other real estate fees.
You can calculate your closing costs using Houzeo’s Advanced Closing Cost Calculator. The calculations are based on the latest prices and it gives you a very detailed estimate of all the costs involved in the transaction.
» Seller Closing Costs in Colorado: Know the Exact Estimates
Selling a house in Colorado can be a little complicated, thus usually requires sellers to hire a realtor. But due to the hefty realtor commission sellers are moving away from the traditional full-service pathway.
Many sellers are also opting for FSBO or DIY route. It does save a lot of dollars but limits exposure and increases sellers’ responsibilities many folds. So the next best choice is discount real estate brokers.
Among these brokers, Flat Fee MLS Listing Companies are the best choice. Flat Fee MLS Services like Houzeo allow sellers to control the selling process without compromising on exposure. All of these at a small listing fee!
With Houzeo, you have the option to list your property as an owner and enable a smooth closing process. You do not have to worry about complex processes as the platform is 100% online. It will help in listing your property on the MLS at a flat rate and take care of other tasks that otherwise would require manual intervention. Another big point is that due to platforms like Houzeo, the real estate agent commissions are declining. This is because of the Flat Fee MLS structure that companies are providing.
Check out some of the Houzeo reviews and how it has helped customers around the US.
Real People, Real Stories
Frequently Asked Questions
What do you need to do to sell your house in Colorado?
You need to do the following for selling a house in Colorado:
(1) Identify the best time to sell your home in Colorado
(2) Price your home competitively
(3) Choose a suitable way to sell your house in Colorado
(4) Prepare and market your house
(5) Handle showings and offers
(6) Take care of the paperwork involved in the process of selling
(7) Close on your Colorado home
Can you sell a house in Colorado without a realtor?
Yes, you can sell your house in Colorado without a realtor. You can bypass the traditional pathway by opting for a For Sale By Owner (FSBO) or discount brokers like Flat Fee MLS companies.
Houzeo's Flat Fee MLS Services are the best available in the state of Colorado. Houzeo ensures that your house gets listed in less than 48 hours on the local Colorado MLS' as well as on the major listing websites like Zillow and Trulia.
Do you need a real estate attorney to sell a house in Colorado?
Having an attorney in Colorado is optional. You can either opt for an attorney or a title company.
Do you have to pay taxes on selling a house in Colorado?
Yes, you have to pay Transfer tax and Capital Gain when selling a house in Colorado.
What are closing costs in Colorado for sellers?
Closing costs in the state of Colorado depend on a lot of factors such as sale price, mortgage (if any), etc. You can use Houzeo's Advanced Closing Cost Calculator to calculate your closing costs accurately.
What do you have to disclose when selling a house in Colorado?
You have to disclose various things through these disclosures:
(1) Seller’s Disclosure Notice
(2) Lead Paint Disclosure
(3) Flood Zone Statement
(4) Property Tax Disclosure Summary
(5) Colorado Radon Gas Disclosure
(6) The Green Disclosure
Who pays what closing costs in Colorado?
Most of the closing costs in Colorado are negotiable between buyers and sellers.
How to sell a house by owner in Colorado?
You can sell your house by owner in Colorado either following the pure FSBO route or you can choose a real estate tech company like Houzeo that provides flat fee MLS services.
Is it a good time to sell a house in Colorado?
May/June are the ideal months to sell your house in Colorado.
Does a seller have to disclose mold in Colorado?
Sellers need to disclose mold if its infestation has caused any major damage to the property.
» How Much Does It Cost to Build a House Colorado: Know Your Costs to Build a House in Colorado.
» How to Stop a Foreclosure in Colorado: A Guide On How to Stop Foreclosure in Colorado.
Related Keywords: homes for sale by owner Colorado, fsbo colorado springs co, cabins for sale in colorado by owner, colorado acreage for sale by owner, fsbo Denver, sell your house Denver, best time to sell house in Colorado, fsbo Colorado, house in Colorado, buy and sell colorado springs, sell my house colorado springs, sell your house fast colorado springs, colorado home sales, sell my house fast colorado springs, how much is Colorado, how much does a will cost in Colorado,
Related Keywords: average cost to sell a house, average price of a home in Colorado, how much do houses cost in Colorado, how much is a house in Colorado, cost of a will in Colorado, how much does a house cost in Colorado, sellers closing costs in Colorado, average home cost in Colorado, how much does it cost to sell your house, how much does a real estate agent make in Colorado, how much are closing costs for seller in Colorado, colorado real estate photography, cash offer on house, foreclosure meaning, home inspectors in colorado, home inspection cost colorado, how much is a home appraisal in colorado, preapproval mortgage, colorado flat fee mls, for sale by owner colorado, wholesale real estate colorado, real estate brokers in colorado, best real estate websites colorado, discount real estate brokers colorado