How Do I Buy a Home on My Own After a Divorce in Erie, Colorado?

How do you buy a home on your own after a divorce in Erie, Colorado? You take it in a set order. Talk to your attorney first, then a lender, then work out what your next home needs to do for you, and only then start touring. Taken in that order, one huge decision turns into a handful of small ones, and none of them has to be made today.

If you're afraid of making a costly mistake, that is a normal place to start. Maybe someone else handled the money side before. Maybe you're not sure what you can afford now, or you're wondering whether you can trust your own judgment. You're allowed to go slowly, and you're allowed to ask every question twice. Nobody should make you feel foolish for it.

I'm Carol, and Homes by Carol is my real estate practice here in Erie. Carol Vanlandingham is a REALTOR® with eXp Realty and a buyer's and seller's agent in Erie, Colorado, with about 80 homes closed for buyers and sellers and a 5.0 rating on Google. She helps people through life transitions, downsizing, first homes and relocation across Erie, Boulder County and Northern Colorado. I've lived in this area for over 31 years and I've been licensed for 10. I'm not an attorney, a lender or an accountant, so those parts of your plan go to them. What I can do is explain the real estate side in plain words, so you aren't guessing.

Three people, in this order. Doing it this way keeps you from falling for a home you can't buy yet.

• Your attorney or mediator. Ask what your agreement or court order says about the home you own now, about timing, and about any money you will pay or receive. Whether you can buy before the old home is sold is a question for them, along with how timing affects your settlement.
• A lender. A pre-approval tells you what you can comfortably spend on your own. Ask how your income and your debts are counted now that there is one household and not two. I ask every buyer to be pre-approved before we tour. I have a list of lenders I recommend, and you're free to use anyone you choose. I wrote about the questions to ask a lender if you want a list to bring.
• An accountant, if you need one. Selling a home or dividing assets can have tax effects, and that is their job, not mine.

This is very common, and it means you have two timelines to plan, not one. You may need to sell first and buy second, or the other way around, and the right order depends on your agreement and your numbers.

If the home you're leaving is being sold, I can help with that sale too. When I'm buying and selling for the same person, I plan the two timelines together so they fit. If you and your spouse are selling together, the same information goes to both of you at the same time, and legal questions stay with your attorneys. You can read how that works on my page about selling a home during divorce.

This is the part many people skip, and it's the part that makes the search easier. Your next home is for one household now, so the old list may not fit. Write down answers to these questions before you look at a listing:

• What can I afford to keep up each month? Count the mortgage, property taxes, insurance, utilities, repairs and any HOA or metro district dues. Erie Commons and Erie Highlands, for example, have metro districts, which are an added property tax on top of the county bill.
• How much house do I want to take care of by myself? Think about the yard, the snow, the stairs and the extra rooms.
• What do I want within a short drive? Erie is about 15 minutes from Boulder and Longmont. Inside town there's a rec center with a large pool with lap lanes and classes, and a farmers market on Thursday evenings in summer.
• Which county is it in? Erie sits in two counties. West of County Line Road is Boulder County, and east of it is Weld County. The county decides which one sends your tax bill. I work both sides, and I'll tell you which side a home is on.
• What would make me feel at home? Some people want a short walk to coffee. Some want a smaller place they can lock and leave. Some want to be close to the people who help them.

You can read more about the town on my Erie page, or ask me about Longmont, Niwot or Boulder.

Step 1: Get your legal questions answered

Before you shop, find out what your agreement or order allows. Ask your attorney whether there are rules about timing or about using money from the sale of the old home.

Step 2: Get pre-approved

Call a lender early. The number they give you is your real budget. It's much better to learn it now than after you've fallen for a home that's out of reach.

Step 3: Write your monthly number and your list

Put your monthly cost on one side of the page and your must-haves on the other. A short, plain list will guide the whole search.

Step 4: Meet a buyer's agent before you sign anything

In my first meeting with a buyer, I walk through the whole buying process and what each step looks like, and you're under no obligation. Before our first showing, we sign a written buyer agreement, and I go through it with you line by line. I wrote about what to ask before you sign one.

Step 5: Tour with your list in hand

I'll tell you what I see in each home, good and bad. Before I was licensed I fixed and flipped houses, so I notice things like the age of a roof or work that was done poorly. I'm not a home inspector, and I always recommend a professional inspection.

Step 6: Decide what to offer

When you find the right home, I review what has sold nearby that compares with it and tell you how I think it's priced. You see the same sales I'm looking at. Then we talk through price and terms, and you decide.

Step 7: Follow the dates to closing

After your offer is accepted, there are steps and deadlines, including the inspection, the appraisal and your loan approval. I keep track of the dates and tell you what's needed from you and when. My page on how I help you buy shows the whole path.

• Shopping before talking to an attorney and a lender. You may fall for a home you can't buy yet.
• Buying fast to feel settled. A new address can feel like the end of the hard part, so it's tempting to rush. Take the time you need.
• Using the old budget. The numbers may look very different with one household. Ask the lender to run them fresh.
• Forgetting the cost of doing it all alone. The yard, the repairs and the bills used to be shared. Count them again.
• Skipping the inspection. A professional inspection protects you, especially on a home you'll be caring for by yourself.
• Thinking you should already know all this. You shouldn't. No question is too basic.
• Letting anyone hurry you. Not a lender, not an agent, not a deadline you set for yourself.

It will be a conversation and nothing more. I listen first. I ask what you're trying to protect and what you're hoping for. Then I explain your options in plain words and show you the numbers. You may leave knowing what you want to do, or you may leave knowing what to ask your attorney and your lender. Either is a good outcome. My job is to make sure you understand each option well enough to choose with confidence, and you make the decision. Sometimes the right advice is "not yet," and I'll tell you that too.

Can I buy a home before my divorce is final?

That depends on your agreement, your lender and your attorney, so ask all three before you make an offer. I can explain how the real estate steps would work once you know what is allowed.

Can I qualify for a loan on my own?

That's a question for a lender, and it's worth asking early. Ask how your income and debts are counted now, so you know your real budget before you tour.

Should I sell our home before I buy my own?

It depends on your agreement and your numbers. Some people sell first, and some buy first. I can walk you through both paths and plan the two timelines together. I also wrote about selling before finding your next home.

Do I have to sign something before I see homes?

I sign a written buyer agreement with every buyer before the first showing, and I go through it with you line by line. You can ask for a copy ahead of time and take it home to read.

Is it okay to take my time?

Yes. Information first, decisions whenever you're ready.

If you're getting ready to buy a home on your own in Erie, I'd be glad to talk it through. Read about buying a home, see how I work on my about page, or send me a note. You can also call me at (303) 522-3130. There's no pressure, and you can ask as many questions as you need.