A real estate agent guides you through the buying or selling process, handles negotiations, manages paperwork,
coordinates inspections and appraisals, markets your home, provides pricing strategy, and protects your interests
throughout the transaction. They act as your advisor, advocate, and project manager from start to finish.

Commission is typically a percentage of the sale price, paid by the seller at closing. The listing agent and buyer’s
agent split this amount. Buyers generally do not pay their agent directly. Commission covers marketing, negotiation,
transaction management, and professional expertise.

A Homeowners Association (HOA) manages shared community spaces, enforces rules, and collects dues for maintenance and
amenities. HOAs can affect your monthly costs, property use, and resale value. Always review HOA documents before
buying in a community.

Escrow is a neutral third-party account that holds funds and documents until all contract conditions are met. It
ensures both buyer and seller fulfill their obligations before money and ownership change hands.

Title insurance protects buyers and lenders from past ownership issues, liens, or legal claims against the property.
It’s a one-time fee paid at closing and is required for most financed purchases.

A CMA is a detailed report that compares your home to recent sales, active listings, and market trends to determine
an accurate pricing range. Agents use CMAs to help sellers price strategically and buyers understand value.

The list price is the price a home is advertised for.
The sale price is the final amount the buyer and seller agree upon.
In competitive markets, sale prices may exceed list price; in slower markets, they may fall below it.

“Under contract” means the buyer and seller have agreed to terms and signed a purchase agreement. The home is no
longer actively available, but the sale is not final until inspections, appraisal, financing, and other contingencies
are completed.

A contingency is a condition that must be met for the contract to move forward. Common contingencies include
inspection, appraisal, loan approval, and the buyer selling their current home. Contingencies protect both parties
from unexpected issues.

Closing is the final step where documents are signed, funds are transferred, and ownership officially changes hands.
Buyers receive keys, sellers receive proceeds, and the title company records the transaction with the county.

Colorado property taxes are based on assessed value multiplied by the local mill levy. Taxes are paid in arrears,
meaning you pay last year’s taxes this year. Rates vary by county and district.

Private Mortgage Insurance (PMI) protects the lender when buyers put less than 20% down on a conventional loan.
You can avoid PMI by putting 20% down, using certain loan programs, or removing it once you reach 20% equity.

A cash offer means the buyer is not using a mortgage. This typically results in faster closings, fewer contingencies,
and stronger negotiating power. It does not necessarily mean the buyer is physically paying with cash.

Higher interest rates reduce buyer purchasing power, which can cool demand and stabilize prices. Lower rates increase
affordability, often driving more competition and upward pressure on prices.

Look for experience, communication style, local market knowledge, negotiation skills, and a proven track record.
The right agent should educate you, advocate for you, and make the process feel clear and manageable.