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I want to take an option on a property in Denver, but the owner has some requests I don’t understand. Can you help?

“Taking an Option” on a property can be contracted in various forms as there are a lot of variables that can transpire over the time period between your “taking an Option” and your exercising the Option that needs to be considered.


As a buyer, the longer the option period, the more risk you are taking.  That said, your questions below are typical questions in a real estate purchase agreement, regardless of the fact that you are contemplating an Option contract.
Let me try to help you.


Owner Request #1:

1: Buyer shall obtain, at Buyer’s expense, a current title commitment providing for an extended coverage owner’s title insurance policy in an amount equal to the Purchase Price.


Typically, in the Denver market, a seller pays for the title insurance policy, so this paragraph asks you to pay. Without knowing the proposed purchase price, I cannot tell what cost you should expect.


Owner Request #2:

2:  Buyer will indemnify Seller for any damage, loss, and liability which Seller may suffer as a result of Buyer’s acts with respect to such inspections, surveys, tests, and studies of the Property.


This paragraph says if you drill holes in the ground for testing or remove siding to look at the structure, or for any reason “disturb” the property, you have to put it back in good shape if you don’t close. No need to be too concerned here.

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What does it cost to use a broker to help me lease space or buy a building for my business?

Usually nothing, in fact it actually can end up costing you a lot more not to use a broker. Any time you engage a landlord or a landlord’s broker about leasing/buying space or a building, they have one person’s interest at heart and it’s not yours. By using a broker, you ensure that someone on your behalf is looking out for your interests. Furthermore, a broker has the expertise and knowledge to help navigate you and your business through the vast complexities that encompass a real estate deal. I have seen it time and time again where someone didn’t use a broker and didn’t catch, include or missed a major component that cost them significantly. A broker can provide you a network of information that can save you considerable amounts of money and time. We are here to assist and make sure any decision you make is a good one.

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