Making Buying a Home Easy and Transparent
Thanks for taking a few minutes to watch this video about our proprietary online offer platform. Buying a home can be a daunting experience, but it doesn’t have to be. Buying a home through an online offers process, let alone buying a home period, may scare you a bit. We are committed to providing you with as much information as possible to ensure you are comfortable every step of the way.
Our platform is 100% transparent so you know what others are offering and you are in control of how much you offer buy the home. There are no blind, highest and best offers needed. And unlike eBay, nobody can come in and snipe at the last minute.
These are not typically distressed properties as you might expect with real estate online offers… we simply offer a different way to list and sell properties. The starting offer is chosen by the seller but is not indicative of the price they will accept. Sellers have the right to accept, reject or negotiate any and all offers.
All offers MUST be submitted through the platform. Our sellers have instructed us not to accept or review any offers or contracts sent to us prior to the offer end date. Only offers submitted online will be accepted. Details for each property are also available on the corresponding property page for you to review.
At Colorado Online Offers, you make offers in a transparent environment where you can see all offers in real time. This creates an open arena that eliminates the uncertainty of a long negotiation period. You see exactly how much money it will take to be the highest offer instead of wondering why your offer wasn’t accepted. If other buyers surpass the amount you’re willing to pay, you’re under no obligation to keep offering. If you have any questions about buying we invite you to reach out.
There are three simple steps to make an offer:
STEP 1. You must register on the site in order to make an offer. I recommend that agents register for their clients.
STEP 2. Once you are registered you’ll need to email a Desktop Underwritten Loan Approval or Proof of Funds to me BEFORE being activated to offer. Note that a pre-qualification letter is not acceptable. The registration confirmation page will have my email so you can send it.
STEP 3. Once I have the verification of funds I will manually approve you and you can make offers at any time up until the end of the offer period. You can also email me with any contingencies with your offer so we know about them before the offer period ends.
That’s it! Once the sellers choose your buyer you will write up a standard contract to buy and sell…and the normal process will continue until closing.
Our listings are ONLY available for showings at the Open House by the sellers’ request. Please consult the MLS or property page here on the website for specific details and dates.
Because of the high volume of attendees at our Open Houses, we do require that you schedule your times to attend. It will also give us a chance to chat in person so I can answer any additional questions you might have.
If you are an agent you can book through ShowingTime. Or if you are a buyer that is unrepresented by an agent you can book through the Calendly link on the property page for the home you are interested in viewing.
Commissions are paid from the Buyer’s Premium on each property. It’s no different than a normal sale except that the commissions are transparently shown separately from the base price and then added together to reach the final purchase price.
*******IMPORTANT*******
In order to place an online offer on any property available being sold on this web site, you must either provide Proof of Funds if paying in cash OR a FULLY underwritten loan approval letter from a Mortgage Lender prior to getting access to the offer area.
CLICK HERE to register for access to the offer platform.
By creating your account, you agree to accept AND you understand the Terms and Conditions of the online offer process and the ColoradoOnlineOffers.com platform.
In addition, you must either provide Proof of Funds if paying in cash OR a FULLY underwritten loan approval letter from a Mortgage Lender prior to getting access to the offer area. Registration and documents must be received NO LATER than 12:00 pm PST the day of the final offer period.
If you are not registered and/or you have not provided suitable documentation by NOON on the day the offer period expires, you will NOT be allowed to offer on a property!
We also STRONGLY encourage you or your agent to login to your account prior to the end of the offer period on the property you wish to offer on. It is IMPORTANT to understand the steps and functionality needed to place your offer. Technical or agent support will not be available after 12:00 pm on the final day of the offer period.
You can get the loan approval started by clicking here
CLICK HERE to register for access to the offer platform.
Upon acceptance to our online offer platform, you will receive access to offer on properties that meet your criteria.
Working with a licensed Real Estate Agent is required. Upon winning the offer, a signed contract prepared by a Colorado Licensed Agent must be submitted within 24 hours after the winning offer along with the earnest money deposited with an escrow agent.
A licensed Real Estate Agent must prepare those documents and initiate the process.
If you have an Agent, the registration page will provide you with the option of entering your agent’s contact information. Our agents will contact them and review the offer procedures. Or, you will have the option to have one of our Agent’s contact you.
Our agents are experts in this process and can guide you through the entire offer process from beginning to end and answer all of your questions. They can also explain the financial benefits of working with us.
What is the “Buyers Premium” – Using the ColoradoOnlineOffers.com option, real estate commission is paid in the form of a “Buyer’s Premium”. Buyer’s Premium can range from 3% to 12% of the “Final/Highest Offer Price (not the Final Sales Price).
The final sales price is calculated in the following manner:
Highest Offer + Agent Compensation = Final Sales Price.
Real estate agent fees or commissions are paid from the Buyers Premium NOT the final sales price.
This is the MOST transparent way for a seller to offer the lowest price on their home and still compensate the real estate agents who conduct and close the transaction.
Each property listed on our web site will offer different terms, conditions and buyers premium, so be sure to research the property and all of the details on the property offer page.
Property will be available for viewing only on the day(s) of the open house (unless agreed otherwise)
Buyers must be approved for offering manually by the seller or seller’s agent.
Sellers reserve the right to accept, negotiate or reject the highest offer.
An online offer is a binding agreement and a seller can legally pursue a non-performing offeror.
Be sure to contact us if you have questions on the offer process.
Terms You Should Know
One hour before the offer period ends, ALL offerors will start to receive offer updates via e-mail. However, you can monitor the screen for real time updates and offers.
Offer Auto Extend – Our system prevents last second offering by automatically extending the offering time.
If an offeror places an offeror within 5 minutes of the end of the offer period, the system will automatically extend the offering time by 10 minutes in order to allow other offerors the opportunity to respond.
Attention Winning Offeror
If you are the winning offeror: Our sellers agent will contact your agent to discuss your offer to determine the total price the seller will receive. The Highest Offer does NOT mean you have an accepted contract. Once we have discussed the terms of your offer and the seller accepts your offer, your agent MUST submit a signed purchase agreement to the seller within the time specified in “sale terms and conditions” (please see the posting details). If you do not have an agent, please Contact Us.
Notice to winning offeror: Important – If you are the winning offeror at the end of the offer period and back out without submitting a contract, you will have been considered breaching our terms of use of our offering submission system and you may be liable for a $500 withdrawal penalty fee. We will invoice you for that amount.
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