Sellers of permanently affordable homes may choose to independently market the home, schedule showings and open houses, and review the purchase contract (For Sale by Owner or FSBO). This check list can be used as guidance for the FSBO process.

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Marketing

  • Review the open marketing procedures described on the Home Sale Process webpage.
  • Submit
  • Receive Maximum Resale Price from the program. Review the calculation and report any inaccuracies.
  • Once the listing has been made public on the Homes for Sale webpage:
    • Confirm selection preferences for the home, if any;
    • Confirm maximum resale price;
    • Confirm listing information, contact information, and descriptions are all correct.
  • Hold open houses or schedule showings as needed.

Contract

  • Receive selection process results from the program. Contact the highest ranked household to initiate the process.
  • If after 24 hours:
    • a contract has not been received;
    • the offer is not a full-priced offer; or

    • the highest ranked household has a home to sell, then the seller may move to the next person on the list.

      NOTE: These are the ONLY reasons that a seller may move to another buyer.

  • Use the Colorado Real Estate Commission-approved form when writing a contract.
  • 30 days are required from contract to closing unless seller and buyer mutually agree to a different timeline.
  • Inclusions must include any capital improvements for which credit was given. Additionally, any appliances or inclusions that the home came with when originally purchased by the seller must be inclusions when selling.
  • No more than $2,000 earnest money can be requested.
  • Arrange for Title Insurance to cover standard exceptions; ensure that the Homeownership team contact is on the title circulation list.
  • Common Interest Community (HOA documents) review period required.
  • Title company closing cost split 50/50.
  • Prorate property taxes on most recent mill levy.
  • Liquidated damages provision to be used if Buyer is in default.

  • Include in the contract the city's additional provisions:

    Buyer understands this property is covenant restricted. The City of Boulder Homeownership Program will provide the Buyer with a copy of the Affordable Housing Covenant by the Title Deadline. Buyer has until the Title Objection Deadline to object to the Covenant terms. If Buyer has no objection, then it is assumed Buyer agrees to all conditions of such covenant including limitations on resale and occupancy requirements.

  • Send a copy of your contract to the program.
  • Send a copy of any amendments or extensions to the contract, including inspection items, to the program.

Closing

  • Buyer and Seller agree on a convenient time for closing and schedule with the title company.
  • The program MUST be given five working days’ notice of any change in the closing date.
  • Remember to bring a photo ID with you to the closing.

Explore Homeownership Programs

Contact Homeownership Program

Phone

303-441-3157

Email

homeownership@bouldercolorado.gov

Address

PO Box 791
Boulder, CO 80306
United States