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[Music] a colorado residential purchase agreement is the most important document when buying a home legally binding once signed is a contract between the buyer and the seller that outlines all of the terms and conditions of the transaction including the purchase price financing options down payment escrow and more in this video well cover how a residential purchase agreement works legal requirements in colorado and what you need to create one where he forms the biggest online database for legal documents stick around and well tell you where you can find an official residential purchase agreement specific to colorado first lets review how does a residential purchase agreement exactly work a residential purchase agreement acts as an official offer from a prospective buyer to the seller of a house in addition to outlining all of the terms of the transaction the document also details conditions that must be met for the agreement to stay in effect the seller once theyve reviewed the ag