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Colorado is one state that requires sellers to tell the prospective buyer about certain conditions. If the seller does not disclose these conditions, or fails to comply with seller disclosure law, the seller may be held liable for the costs and fees associated with the nondisclosure.
Here are some earnest money basics. The standard forms used in the vast majority of Colorado real estate transactions provide that an earnest money deposit is subject to forfeiture as liquidated damages to the seller in the event of a default by the buyer.
Which of the following is correct according to the Colorado Real Estate Commission Position Statement regarding Rule F? Brokers may not add exculpatory language limiting their liability to any contract to which they are not a party such as the Contract to Buy and Sell.
The Exclusive Right-to-Buy Agreement obligates the buyer to pay the broker if the selling broker cannot be compensated from some other source. The obligation for the seller to pay the broker a commission is a provision which benefits the buyer and is an agreement between the buyer and the seller.
If youre considering purchasing or selling a resale home (meaning an existing home rather than a new build home) in Colorado, the agreement under which you might purchase or sell the property is the Colorado Real Estate Commissions (CREC) Contract to Buy and Sell Real Estate (Residential).
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If youre considering purchasing or selling a resale home (meaning an existing home rather than a new build home) in Colorado, the agreement under which you might purchase or sell the property is the Colorado Real Estate Commissions (CREC) Contract to Buy and Sell Real Estate (Residential).
Colorado courts have concluded that sellers are in a superior position to know the condition of a house and therefore have a duty to disclose defects in the house, which is typically accomplished through a sellers property disclosure form.
In the state of Colorado one agent cannot represent both the buyer and seller.
Commission Rule E-23 states that a Colorado broker who cooperates with a broker who is licensed in another state or country may pay such out-of-state broker a finders fee or share of the commission if: (1) such broker resides and maintains an office in the other state or county, (2) all advertising, negotiations,
Selling your home without a realtor means you wont have to pay a listing commission, which in Colorado averages 2.7% of the sale price. Considering a typical Colorado house is worth about $570,000, thats a savings of $15,565. However, trying to sell a home For Sale by Owner (FSBO) can be tough.

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