As an owner and lawyer, I understand the complexity of processing real estate forms. If you need help understanding the forms you need, please contact me to arrange a free consultation. What types of forms should you consider? It depends on the real estate transaction you are making. The Colorado Real Estate Commission has an approved contract template form that should be used by a broker, broker, or attorney who acts as the buyer`s agent, a person who wants to buy a particular property from its owner or seller. Buyer`s agents will use this Agreement for verification and acceptance by Seller, indicating the price of transactions. A purchase agreement for a real estate transaction in the state of Colorado must include a special tax district return (full return described in the regulations below). The contract for the purchase and sale of (residential) real estate is also marked as CBS1-8-13. The contract serves as an offer to purchase a property. This document confirms the buyer`s obligation to purchase the property at a price agreed by both parties. It also records the terms of the transaction. Colorado Real Estate Division forms are free, but they don`t address issues specific to a particular transaction.
There are times when it is better to create certain documents for certain situations. If this is the case, you should contact a real estate lawyer. Residential real estate purchase agreements usually contain promises and provisions that guarantee the condition of a property. In some states, sellers are required to provide additional documents that guarantee the condition of the property. While other states require the seller to disclose some type of problem on the property – such as. B a defect in materials. In Colorado, in addition to the purchase contract, you must complete the following documents: If a real estate agent is involved in a transaction on a bias (for example. B registration contract or a purchase and sale contract and the broker acts as principal), this broker may hire a lawyer to prepare a form for the transaction, provided that the form ostensibly indicates that the form is not a form approved by the commission. A contract to buy and sell residential real estate in Colorado is a document negotiated by two parties, a buyer and a seller, with the intention of conducting a residential real estate transaction. This Agreement contains the terms of the agreement between the two parties, including the price, financing options, termination option, details of the closing of the sale, all applicable contingencies and other details that are legally binding on the parties. The state requires sellers to provide a disclosure statement with a Colorado residential real estate purchase and sale agreement informing the buyer of the condition of the property, as well as past or existing issues. Colorado law also requires a real estate agent to keep your real estate transaction documents for four years.
Click here to download the list of real estate documents required for storage. The real estate industry can be difficult for inexperienced sellers and buyers, and the main legal tool that the parties to the transaction can have is an appropriate agreement that describes their mutual rights and obligations, breaks down the payment and sets the date and method of payment, provides the buyer with guarantees regarding the current condition of the property and determines which party should pay for the home inspection. Special Tax Districts (§ 38-35.7-101) – All residential purchase agreements in the State of Colorado must include this statement in bold (included in the purchase agreement above). The Colorado Residential Real Estate Purchase Agreement (“Residential Property Purchase Agreement”) is a contract that describes the terms of a residential real estate transaction between a buyer and seller. It can only be used for residential properties whose construction is complete. The purchase agreement or seller`s statement must include a disclosure statement of oil and gas activities, which must be worded in the same way as the related legal disclosure below. Check out these forms if you are buying real estate, but if you are selling real estate, you should be interested in these forms. All sellers of residential real estate built before 1978 must provide this lead paint disclosure form to potential buyers in accordance with federal law. Colorado property values are already high, but they continue to rise. In addition, the rental prices are exceptional. For these reasons, it is in your best interest to review all of your forms with a licensed real estate attorney in Colorado.
In some cases, it may be best to design your own custom form. If the seller knows that the property they are selling has already been used as a methamphetamine laboratory, they must communicate this in writing to the potential buyer. However, this does not apply if the seller knows if the property has been used in such a property, but has been renovated in accordance with § 25-18.5-102. (In addition, the purchaser has the right to hire a certified industrial hygienist to conduct tests on the property to determine if methamphetamine has already been produced on the premises. If the test results are positive, they can cancel the purchase contract.) Disclosure of transportation projects. Completed by the seller when he becomes aware of the existence of a proposed transport project that affects or is likely to affect the property. (CO Rev Stat § 38-35.7-105) Oil and gas activity (§ 38-35.7-108) – If the property is subject to the jurisdiction of the Commission, the transferor is required by law to insert this declaration in the purchase contract before it is signed. A Colorado Real Estate Purchase Agreement is a formal contract signed by the owner of the property and the person or company that wishes to purchase that home, apartment, or office space. This document confirms the parties` intention to participate in a property transaction and protects them in case of future disagreements, as it is recognized by the courts and authorities as evidence of the parties` consent. Methamphetamine (§ 38-35.7-103) – It is required that the purchase contract stipulates that the buyer has the right to perform tests on the property to determine if it has ever been used as a methamphetamine laboratory. A purchase and sale document protects the buyer from loss of money if he decides to terminate the contract and requires the seller to provide the buyer with certain disclosures to prevent fraudulent or unfair sales. This agreement includes the purchase price of the property, the amount of money, the closing date and the costs, contingencies, considerations and signatures of all parties involved.
The related articles of association below contain a specific disclosure of drinking water, which must be included in the purchase contract, the registration contract and the seller`s declaration when transferring residential real estate. If the source of drinking water is a well, the seller must provide a copy of the well permit (if available). The Colorado Residential Real Estate Purchase and Sale Agreement sets out the terms of a real estate transaction between a buyer and seller. In most cases, a real estate agent (or two brokers, one for each party) will be involved in the transaction. All real estate purchase agreements located within a community of interest must include a specific disclosure statement listed in the related laws below. The form CBS1-8-13 to be completed requires consent to many details and regulations, but the most important information that must be covered is the following: If a real estate agent uses a form prepared by a lawyer in accordance with Rule 7.1, that broker remains responsible for making all necessary disclosures to all parties in accordance with the laws, rules and regulations applicable to real estate agents. . . . .
