Welcome to Vedas real estate learning videos presented by V the real property sent services offering services to buyers and sellers in the Denver metro area in Colorado. My name is Roy Helu Rodriguez. You can visit us at Vtherealproperties.com. This video will present reading the residential contract to buy and sell real estate, specifically in the state of Colorado. Major points covered include finding the contract online, structure of the contract, and reviewing the benefits of understanding the contract. Alright, so first, we have to find this contract. Let's start off with our old friend, the Division of Real Estate in Colorado. Once you arrive at this page, you're on the right path. These are the different services offered through the Division of Real Estate's website. You can see all the different things that they have a say in. Now, we can go to the real estate contracts and forms. Look at all these approved forms and you can read here exactly what they say and how they are used according to the Colorado statutes. What you're looking for is not this listing contract, you're looking at sales contracts, specifically the contract to buy and sell residential properties. When you click on it, you should get the PDF form of the contract which is about sixty pages long. Let's go all the way down and you'll see it's page 16 of 16. Now, let's look at the structure of this contract. First of all, it's important to note that this is a legally binding contract and seeking legal counsel is recommended. In the state of Colorado, licensed real estate professionals are authorized to fill in any blanks in the contract. Anything that is not already listed here will be under additional provisions, which can be found towards the end of the contract....
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Colorado Contract To Buy And Sell Real Estate Residential Form: What You Should Know
It requires the disclosure of some following information: The seller receives a specified fee in addition to any other consideration, with respect to any real estate transaction; The buyer is bound by all documents provided by the seller; The seller receives a fee in addition to any other consideration, either nominal or contingent, from the buyer for the sale, purchase, assignment or disposal of real property; The buyer and seller agree to confidentiality in the performance of both the seller services and the buyer services; and, The buyer and the seller agree for a period of one year following the closing date, to meet annually to review the performance of both the seller services and the buyer services by entering information on a record maintained by the Division that is created and maintained by the Division. Caveat: The Division reserves the right to amend or remove any of these guidelines or to interpret any provision contained, as provided under the Colorado Real Estate Act, on the terms and conditions of any transaction in which the Division is involved. Evaluate Real Estate for Brokerage Services Real estate appraiser in Colorado can provide a general appraisal for a mortgage sale, a mortgage contract, or both. In most cases, if a buyer wishes to purchase the real estate, the purchaser must submit a written request from the buyer along with a check or money order for the appraisal fee. The real estate appraiser will provide the appraisal fee to the buyer upon completion of the sale. An appraisal is an estimate based on the existing condition, the value of the property when the appraisal is completed, and a variety of other factors and assumptions to determine how much the fair market value of a property is. The appraiser may make the appraisal recommendations based on those appraisals. It is not necessary for the appraiser to specifically identify, endorse, or represent his or her opinions. A brokerage service fee may be included in the sale of real estate. The brokerage fee is usually based upon the appraisal fees and the fees charged by other agents who do the work for the purchaser. A buyer may not directly request an appraisal, however, he or she may ask in writing for the appraisal. Under Colorado law, any appraisal fee charged to the buyer by a dealer or a lessor is subject to a Colorado non-refundable fee and to a Colorado Non-Reimbursable Fee which is not refundable. The Colorado Department of Real Estate will not charge an advance fee for a mortgage loan.
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Video instructions and help with filling out and completing Colorado Contract To Buy And Sell Real Estate Residential
