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Commission Approved Contracts Other forms used by a broker shall not be prepared by a broker, unless otherwise permitted by law. The Division of Real Estate, on behalf of the Colorado Real Estate Commission, makes Commission-approved forms available to third-party vendors upon request.
Disclose all Property Inspection Reports You Receive ? If you have possession of a prior potential purchaser's property inspection report, provide it to any subsequent potential purchaser, regardless of whether they ask for it.
Although these disclosures are required by law and you should engage a real estate broker or attorney, the disclosures that cause lawsuits are the ones related to leaks and other water-related problems (i.e. mold, roof leaks, window leaks, flooding, etc.).
Standard Seller's Property Disclosure Forms Use of these forms is not mandated by statute, but by completing them a seller will ensure that they have disclosed the relevant information that is required by statute, regardless of the manner in which it is disclosed.
Common issues that require disclosures include anything that may cause major foundation issues to a property or endanger a prospective buyer or the integrity of the house.
There are three surefire ways to terminate a listing agreement ing to real property law ? death, insanity, or bankruptcy of either the broker or the seller. Depending on the contract, someone who has power of attorney for the seller may be able to continue the sale of the home.
Colorado's Disclosure Laws. Colorado state statutes require that sellers of residential property disclose the following to buyers: That the property might be in a special taxing district, and where the buyer can go to find out whether the property is, in fact, within such a district.
In the residential form, a seller must disclose information concerning appliances, electrical system, heating and cooling, water system, roof, environmental conditions, structural conditions and other items such as zoning violations.