What’s the process for buying a home in Colorado Lake Cooperative?
Prospective home-buyers must secure approval from the Membership Committee and Board of Directors before moving in.
- First, agree to terms with the seller of the home and sign a Purchase and Sales Agreement.
- Second, immediately complete and submit an Application. Read the Letter to Applicants for detailed information. As part of the application process, please also read our Community Rules, especially as they relate to maintenance of homes and lots, and our Bylaws, especially as they relate to Membership. Click here for more details in our complete Application Packet.
- Third, as part of the application process, the Board of Directors must approve new Members based on the membership criteria described in our Bylaws.
- Fourth, buyers requiring home financing should arrange for a loan as in any other community.
- Finally, upon Board approval, a successful transaction with the seller, payment of the Membership Fee, and execution of a Lease Agreement, take the keys and start enjoying your new home and the stability and security that comes with living in a resident-owned community!