Please find below the revised and restructured version of the text: Davis Parks, Broker of Maximum One Greater Atlanta Realtors, will be discussing the seller's property disclosure form in this week's contract tip. This form is included in both the GAR and RE forms contracts. Before we dive into the form, let's take a step back and review the listing agreement. Both the GAR exclusive seller listing agreement (F1) and the RE forms exclusive right to sell listing agreement (RE Form 151) state that the seller is required to complete a seller's property disclosure form. In the GAR Khan and BAR listing agreement, paragraph C2 specifies that the seller agrees to provide a fully executed seller's property disclosure statement to the broker within three days of signing the agreement. Additionally, if any part of the property was constructed before 1978, the seller must also provide a fully executed lead-based paint disclosure exhibit (GAR Form F54) within the same timeframe. The broker is authorized to distribute these disclosure documents to interested buyers in compliance with federal law. The seller must promptly update these documents if any changes occur. Similarly, in the RE forms contract, specifically in paragraph six, it is stated that the seller must disclose all property information, including defects, and assure that the information provided is true and accurate. The seller is responsible for completing a seller's property condition report and acknowledges that the broker relies on the accuracy of the information provided. The seller agrees to indemnify and hold harmless the broker, MLS, their agents, and employees from any losses, costs, damages, or liabilities resulting from withholding information or providing incorrect information. The seller must disclose all physical characteristics of the property that may adversely affect its value, such as lead-based paint, radon gas, asbestos, water problems, and structural defects. All...
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Colorado real estate commission seller property disclosure Form: What You Should Know
Colorado Residential and Commercial Properties Colorado Residential Properties are a part of Colorado's real estate statutes. Real estate disclosure forms for residential properties must appear on a separate sheet and be prepared by the real estate professional. Colorado Residential Properties Colorado Residential Property Disclosure (Forms 1, 2 & 3) Forms 2 and 3 are the real estate contracts and form for Colorado's residential property disclosure forms. Before the seller signs a lease or a real estate contract, the seller must provide specific information about the residential property. Colorado Residential Broker Contracts and Forms Colorado Residential Broker, Retail Broker and Brokerage Duties The Seller of a Colorado Single Family Residential Real Estate Brokerage Home or Brokerage Broker's Home and/ or the Broker shall provide the Broker with the following: Real Estate Professional's Address and Telephone Number When providing the Address and Telephone number you state in red, “This information must be provided to the Broker by you, at your own expense or risk. Any fees charged for this service are the responsibility of the Broker.” If the Broker fails to respond to the Seller's request for this information, the Seller may terminate the lease or contract for the real estate brokerage service(s) which are included in the document. Colorado Commercial Real Estate Brokerage Disclosure Contract (Contract) Colorado Commercial Real Estate Brokerage Broker's Home and/or Brokers Home and/ or Broker's Home and Colorado Commercial Real Estate Brokerage Broker's Brokerage Contract for Selling Commercial Property in Colorado Commercial Brokers, Brokerage Brokers, and Residential Brokers: Real Estate Disclosure Requirements for Brokers, Retail or Brokerage Contractors When you offer to sell or purchase commercial property, the following disclosure requirements apply to the real estate broker, broker and business that your client will be purchasing or selling: The Real Estate Broker, Broker and Brokerage Contract's Title Information, Name, Address, and Telephone Number. The address and telephone number of your own local, state and federal agency and of the State Tax Commission are listed in the document. The Colorado Real Estate Commission requires this information. The name and address of both the seller and buyer are listed in the brokerage contract and the document also states the seller's and buyer's names, the address and telephone number of the current Colorado addresses and contact information of the seller and buyer.
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