Title and Common Interest Community (HOA)
When purchasing a home in Colorado the buyer will receive a title commitment for an owner’s title insurance policy as the seller’s expense. Title insurance will insure home buyer against any past encumbrances and liens on the property, basically no one can claim rights to the property after the purchase of the home except for home buyer and their mortgage lender.
The Colorado real estate contract also provides the opportunity for you to review all documents and covenants related to community and neighborhood. If for any reason the homebuyer is not satisfied with the HOA they can elect to terminate the contract before the deadline.
Next Step: Mortgage and Real Estate Closing
Previous Step: Appraisal
Back to: Colorado Buyer’s Guide