Co-Author: Jeremy S. Durham Buyers at foreclosure auctions must purchase with cash (eliminating much competition), often don’t have the opportunity to inspect the interior of the property, and risk being redeemed out by junior lien holders. Generally, foreclosure buyers acquire properties at below their retail fair market value. While it is intuitive that they should be … Continue Reading
Co-Author: David A. Farus, Esq. On September 1, 2008, Colorado became one of the last states in the Country to impose a warranty from a landlord to a residential tenant that the leased premises are fit for human habitation. Whether this statute will have a significant impact in day-to-day leasing remains to be seen. Even … Continue Reading
Simple Wills and Advance Directives Our firm receives frequent inquires related to the preparation of “simple wills.” Simple wills are sometimes sufficient instruments for clients to direct the disposition of their probate property. However, other clients may need more complex planning tools. This article discusses circumstances for which a simple will may be appropriate, then … Continue Reading
In today’s slower real estate market, lenders are more cautious about making loans and sellers are more inclined to agree to carry financing to sell their properties more quickly. When a seller carry’s financing, the seller bears risk that the buyer might default on the promise to pay back the loan. But if a buyer … Continue Reading
Is it time to buy or lease a new copier or other electronic productivity tool? Read the fine print. When you have a dispute, you have agreed in many cases to “arbitrate” (private court without appeal) rather than litigate. So when it does not work, you will not be suing the vendor for the … Continue Reading
This article is Part I of a two part series. Part II is available at Foreclosure Evolution (Part II). Question: What are the biggest changes in Colorado’s new foreclosure law? Summary In Colorado, the foreclosure process historically gave borrowers two opportunities to pull their property out of foreclosure. Prior to the foreclosure sale, the borrower … Continue Reading
Co-Author: Karen J. Radakovich, Esq. This article is Part II of a two part series. Part I is available at Foreclosure Revolution (Part I). A prior issue of this column explained the revolutionary change in Colorado’s foreclosure law. For foreclosures started after January 1, 2008, the owner no longer has a post-foreclosure sale redemption right. … Continue Reading
Supervision, Office Policy and Attention to Detail You have just opened a new brokerage company and things are really happening. Agents want to “come over” and people are taking listings, showing buyers and making sales. Man, that is the way it should be. What should you be doing to make sure that it all … Continue Reading
Traps of the Information Age: Blogs, Voice Mail and E-mail Well it is here. The information age. So nice to just “check it out on the web.” Viruses, all sorts of malware and threats to data, identity theft and that is just for starters. The real issue is the digital paper trail that is … Continue Reading
What Happened to Loan Approval or Loan Commitment? What does the Loan Conditions Deadline really mean? By that deadline date the buyer needs to be satisfied that the loan is ok with the buyer. Specifically “Contract is conditional upon Buyer determining, in Buyer’s subjective discretion, that the availability, terms, conditions, and cost of such New … Continue Reading
