About To Make your Greatest Investment? Review What You Sign. It seems so simple, but most people get busy and think that the documents they need to sign are standard or cannot be changed. Whether you are purchasing a home or business, having construction done for either, or renting or leasing, you should … Continue Reading
Question: My listing expires at the end of this month. My seller just entered into a contract to sell the property that is scheduled to close after the expiration of my listing. Does the seller have a need to extend my listing agreement so that I am obligated to continue to service the deal … Continue Reading
Many Homeowner Associations (“HOA’s”) don’t realize that their deadline to register with the Colorado Division of Real Estate without incurring any penalties was back in March of 2011. Pre-CCIOA communities created prior to July 1, 1992 do not need to register but it is recommended that they still do so. The cost is only $8.95 … Continue Reading
You or your business could be at risk of being found to be an employer to someone previously thought to be an independent contractor. You could be sued for violation of The Fair Labor Standards Act (FLSA). There are many factors that can determine whether the person that worked for you is really an … Continue Reading
As a result of these economically challenging times, many property owners come up with creative means to maximize income generated by their properties, whether residential or commercial. Recent examples include the proliferation of short term and vacation residential rentals like those seen on www.vrbo.com and www.craigslist.com. Other examples include property owners expanding property uses, including … Continue Reading
Co-Author: Jordan J. Bunch, Esq. Question: It is not uncommon for first time homebuyers to get a second mortgage loan from their parents. Does this lending of money to their children make the parents mortgage loan originators such that they must be licensed? Quick Answer: The definition of Mortgage Loan Originator in Colorado is so … Continue Reading
Co-Author: Jordan J. Bunch, Esq. Question: Are loans made for the purchase of residential investment properties “residential mortgage loans” under Colorado law? Quick Answer: The Colorado Board of Mortgage Loan Originators is on a path to regulate loans intended for development, rehabilitation, resale or rental of residential property, potentially hindering access to financing for rehabilitation … Continue Reading
Imagine a scenario where you own a property free and clear of any mortgage and you find a buyer who wants to buy the property but doesn’t have the entire purchase price in cash or the ability to get financing. Prior to 2010, regardless of what type of property you wanted to sell, you, as … Continue Reading
Co-Author: David A. Farus, Esq. Colorado has returned to having a State approved real estate purchase contract designed for commercial transactions. This article identifies differences between the new Colorado Real Estate Commission (CREC) approved commercial and residential forms, a conceptual flaw in the commercial form, and a partial solution to the flaw. Most of the … Continue Reading
Divorced Parents and Child College Expenses Paying for college tuition, books, fees and room and board expenses can cause financial hardship for all parents. When parents are divorced or going through the divorce process, paying for college expenses can be a source of major controversy. However, Colorado child support law is clear concerning divorced parents’ … Continue Reading
