The Purchasing Process

Purchasing Process Steps

1)  Buyer completes The Preliminary Deed Restriction Qualification/Interest form and reads through the deed restriction summary to understand if they will qualify for the project. If there are any doubts or questions, feel free to reach out to the Housing Authority at lottery@impactdf.org

2)  Buyer contacts mortgage lenders on our website (or any other lenders they would like) to obtain a pre-qualification letter for a mortgage. Mortgage Pre-qualification Letter is REQUIRED to enter the Lottery. A list of lenders can be found here.

3)  Buyer completes and submits the Deed Restriction Application by visiting the website of Impact Development Services here.

4)  All Buyers will be chosen through the Lottery (see timeline and more info here).  All names shall be drawn and will be posted in the Lottery drawing results. Buyer will be contacted in order of the lottery drawing. Participation is expected to be high and there is a chance not all potential Buyers will be offered a home to purchase.

5)  Buyer chooses a unit based on their availability. Once the selection is confirmed, Buyer will be contacted to complete the real estate purchase contract. If there are unforeseen delays, an amend/extend agreement to the purchase contract may be necessary.

6)  Buyer completes mortgage process. Ouray Building Inspector makes final inspection and certification of occupancy for home is issued.

7)  Buyer closes on the purchase of their home and signs all necessary Deed Restriction documents with their lender and Land Title.

8)  Buyer moves-in and conducts a new homeowner walk through with Ouray Homes staff.