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Video instructions and help with filling out and completing colorado contract to buy and sell real estate sample
Greetings this is Chris vane I'm one of your managing brokers at resident realty and today we are going to go over the contract to buy and sell real estate this is the standard purchase contract for all non new construction sales in Colorado so you'll be writing this form on behalf of your buyers and you will be receiving this form on behalf of your sellers so today we're gonna kind of take an approach of a beginner's perspective to this contract how to fill it out some tips on presenting it to your your buyers and sellers and just kind of getting an overall understanding of how you would write this contract in a normal standard transaction unfortunately such a thing doesn't really exist but I think over the years as you gain your experience you'll find that this template will be really helpful in helping you determine how to adjust things based on the uniqueness of each deal so we're going to go ahead and get started right now first off we're going to date our contract the date you're writing it is obviously fine as we move down to section 2 in the contract we're gonna identify the parties and the property as you're writing this for your buyers you're gonna want to ask them and maybe even consult with their lender how they want their name or names to show up on the title for the property obviously when we're working with just one buyer like in this example we're gonna be checking the other box stating that they're taking title in severalty you can write the word severalty you can write in severalty whatever you want to convey that point anytime you have buyers that are a couple or you know more than one person you're gonna have to discuss with them how they want to take title joint tenants is kind of the standard for a married couple sometimes you might have a married couple though that this isn't their first marriage or for whatever reason they have separate airs from one another or maybe when one of them passes they don't necessarily want to hand their share of ownership over to their spouse in that case we would mark tenants in common your standard married couple with the same airs that have the anticipation and the expectation that if one of them should pass away full ownership would go to the other that would be when we check joint tenants next we're going to want to define who the seller is for the property buyers agents are going to be able to find out this information as well as the County legal description and of course the address of the property either through the the listing agents MLS listing or by researching the property address in the public records certainly you want to make sure you get that information right as you move out the gate next thing we'll talk about.