Colorado Real Estate Broker BuyOut and Price Addendum to Contract to Buy and Sell Real Estate

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Multi-State
Control #:
US-01247BG
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Word; 
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Description

Some state real estate commissions require the use of a buyout addendum when a real estate broker enters into a contract to purchase a property: i) concurrent with the listing of such property; ii) as an inducement or to facilitate the property owner's purchase of another property; or iii) continues to market that property on behalf of the owner under an existing listing contract.


It is generally recommended that a real estate broker use such an addendum when he/she continues to market the property and is only agreeing to buy it to make the deal. If a licensee actually wants to own the property, using the addendum does not solve the conflict of interest.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

The addendum to a buy sell agreement adds specific changes or clauses to the existing real estate contract. It may include details around financing, contingencies, or additional seller disclosures. Including this document can enhance the attractiveness and security of your agreement, especially in competitive Colorado markets.

An exchange agreement in real estate is a contract that stipulates the exchange of one property for another. This type of arrangement typically involves property owners looking to defer capital gains taxes through a like-kind exchange. Utilizing such agreements can be strategic in optimizing your investment portfolio and maximizing benefits in Colorado real estate transactions.

An exchange addendum is a document that modifies the original real estate contract. It allows for the terms regarding the exchange of property to be clearly stated. This ensures transparency and helps protect the interests of both buyer and seller in the transaction, particularly in a Colorado real estate deal.

An Addendum, sometimes referred to as an Amendment Sheet, is a list of changes that have been notified after the catalogue being published.

In which of the following instances would you use the Agreement to Amend/Extend Contract? The Agreement to Amend/Extend Contract is used to changes the conditions in an accepted contract to purchase. It cannot be used to change the conditions of an offer as an offer has not been accepted.

The Licensee Buyout Addendum contains the following verbiage: 1) Seller acknowledges that in entering into the Contract, Buyer is exposed to possible losses and expenses. 2) The Contract may be terminated at any time by Seller upon written notice to Buyer.

It is not unusual for an escape clause to place a deadline on the contingent buyer, usually a day or two, to waive the contingency or lose the property. When purchasing a "new home" through a builder, the earnest money should be held in the: Builder's escrow account.

The Licensee Buy-Out Addendum to Contract to Buy and Sell Real Estate is intended to prevent improprieties and conflicts of interest in licensee/client transactions, as well as to make sellers contractually aware of the potential differences in selling to a licensed real estate professional as opposed to conventional

How would you use the Agreement to Amend/Extend Contract form to delete a date-related provision from the original executed sales contract? Add an attachment to the amendment indicating which provisions should be deleted. Mark that item in the "Deleted" column of the amendment.

A licensee buyout addendum is a form used in certain real estate and property transactions in the state of Colorado. The LBA is used only in the purchase and sale of properties between licensed real estate professionals and their own clients.

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Colorado Real Estate Broker BuyOut and Price Addendum to Contract to Buy and Sell Real Estate