Take a walk
Colorado has pretty progressive real estate laws. For those East coasters out there I’m sure you will agree that the while the search process is much the same, the closings are worlds apart.
Some states require lawyers at a real estate closing. Now, this is no slight against lawyers but the real estate closing process is predictable, and Colorado is one of the many states which does not require lawyers at the closing table. The typical closing that we attend lasts from 3o minutes to an hour. But very rarely more than that.
We just came from a Denver real estate closing that took only 15 minutes. Now that’s a new record!
When the entire process is as streamlined as it is in Colorado there is the danger of too much trust. What do I mean by that? Well, let’s take the walk-through as an example.
Buyers have the right to walk through the property right before the closing to make sure that any repairs and changes that were part of the contract have been completed to the specifications of the contract. It’s important to have this last look before you sign the closing papers. Like Reagan said, “trust, but verify“. It’s good to trust the other party, but it’s entirely necessary to verify that what they say is true.
We’ve had closings where something as simple as the word “clean” had different meanings for buyer and seller. When the buyer’s expectations of a “clean” house are met with the seller’s concept of what it means to “clean” the house before leaving you can have a recipe for disappointment if not outright disaster.
So, while the process of buying and closing Denver real estate has never been more streamlined, there are still necessary precautions that customers should take. The walk through is one of the often overlooked protections for both parties.
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