When someone dies owning an interest in real estate, the legal instrument used to convey the property is a Personal Representative’s Deed. In the deed, the Personal Representative (“PR”) of the estate transfers the deceased owner’s interest to either a third-party buyer or an estate beneficiary. Does a Personal Representative’s Deed Require a Probate Administration? … Continue Reading
Most purchases of Colorado real estate involve some sort of mortgage financing, in order to complete the purchase. Although a majority of mortgage financing is done by banks or other lenders in the business of making loans (known as “institutional lenders”), some financing is done with a private loan usually by either the current owner … Continue Reading
Can I keep my mineral rights? Yes. The general rule of thumb is that minerals run with the land so the mineral ownership and rights to existing royalty payments (if any) pass with the land to the new owner. A landowner must actively reserve or convey the minerals to avoid passing them to a new … Continue Reading
Wire Fraud – Learn how to avoid wire fraud in Colorado Real Estate Transactions 10/18/16: Wire Fraud. Don’t wire your money to criminals. Learn how to avoid getting duped!
General Warranty Deed vs. Special Warranty Deed for Re-Sale Sellers. A general warranty deed creates liability for a seller beyond the warranties of a special warranty deed. 8/1/16: General Warranty Deed vs. Special Warranty Deed for Re-Sale Sellers. The market place expects residential re-sale sellers (not builders) to convey title using a general warranty deed. … Continue Reading
Special Considerations for Commercial Real Estate Brokers and Referral Fees under RESPA and Colorado law. Paying for referrals is a common practice in various competitive industries where the struggle to attract customers determines which participants will flourish and which will flounder. However, the business of real estate is subject to various restrictions that limit industry-participants’ … Continue Reading
Know Your Local Ordinance on Construction Defects When state law on construction defects failed to change despite lobbying efforts, many cities enacted their own local ordinances regarding how to deal with construction defects in new housing and there are probably more to come. Currently, Arvada, Aurora, Centennial, Colorado Springs, Commerce City, Denver, Lakewood, Littleton, Lone … Continue Reading
Q: I’m a parent. Can I loan money to my child to buy a home in Colorado? Can I secure the loan against the property? What do I need to do? As of August 2016, the answer is “yes” – parents can loan money to their children to buy real estate in Colorado and they … Continue Reading
Coming Soon Listings – Learn how to manage the conflicts of interest associated with the “Coming Soon” phenomenon. 5/26/16: Coming Soon Listings. In a tight inventory market, listing brokers are tempted to sell listed property to their own sphere of influence before exposing the property to the whole market. Yet without exposing the property to … Continue Reading
Q: I’m a homeowner. I want to list my Colorado property for sale. Can I do it by myself (For Sale By Owner)? When a homeowner considers listing their property for sale, one of the first questions they typically ask themselves is: “Should I list the property through a real estate broker?” Experienced real estate … Continue Reading
