Colorado Offer to Purchase Real Estate
Description
How to fill out Offer To Purchase Real Estate?
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FAQ
A purchase and sale agreement, also called a sales and purchase agreement or a purchase and sales contract, is a legally binding document that parties in a transaction use to stipulate the terms and conditions that will guide the sale and transfer of goods or property.
Colorado has a specific agreement that is used to buy and sell residential property called the Colorado Real Estate Commission's Contract to Buy and Sell Real Estate.
The initial sales contract needs to be assignable. If using the standard commission approved contract there is a box to check at Section 2.2 stating that the contract will be assignable.
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.
A contract consists of an offer and an acceptance of that offer, and must be supported by consideration.
What is an As-Is Real Estate Clause? An as-is real-estate clause is an addition to a real-estate contract that puts the burden on the buyer to use their own resources to determine the condition of a property rather than relying upon the seller to discover and disclose any problems.
How Much Earnest Money Do Colorado Home Buyers Need? The amount you're asked to put down as earnest money can vary. Typically, it's anywhere between 1% to 5% of the sale price of the home. For example, on a $300,000 house, this could mean anywhere from $3,000 to $15,000.
