Are you looking to purchase a home in Denver, Boulder, Adams or Arapahoe County, or anywhere else along the Front Range? Do you plan to use gifted money for your down payment? If so, ensure that your lender’s underwriter declares you as financially fit using a gift letter.
Read MoreThe Colorado Real Estate Commission (“CREC”) has ensured that residential Sellers and Buyers abide by the Lead-Based Paint Disclosure federal regulation by including a lead-based paint provision in Section 10.10 of the CREC approved Contract to Buy and Sell Residential Real Estate. It is important to note that changes to the Contract were made effective on January 1, 2019. The changes to Section 10.10 of the Contract now allow Buyers to “waive the failure to timely receive the Lead-Based Paint Disclosure,” if the Buyer does not timely receive such disclosure.
Read MoreThe idea behind property disclosures is to ensure that a buyer knows what they are purchasing. A seller of real estate cannot be deceitful when attempting to sell a property. A buyer must know what “as-is” means before purchasing a property. For example, if a seller knows about a sewage repair that needs to be made on the house, this must be disclosed. It is unfair for a buyer to have to purchase a house without knowing about the mess that needs to be cleaned up. Honesty is the best policy for sellers and buyers when purchasing real estate in Colorado.
Read MoreAre you buying or selling your home in Denver, Boulder, Adams or Arapahoe County, or anywhere along the Front Range? If so, do you know about required disclosures and what must a seller disclose about the property they are selling? A seller can be liable for failing to disclose. This blog will briefly guide you through Colorado’s real estate disclosure laws so you can avoid future liability.
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