I am looking to purchase a home to be built in a new subdivision. What concerns should I have, and what should I look for in the builder’s contract forms? The majority of residential real estate in Colorado is sold through the use of Real Estate Commission approved forms. However, there is no State approved … Continue Reading
Co-Author: Richard Byron Peddie, Esq. In a previous article, we explored the ambiguity associated with the meaning of “loan approval” in loan contingencies. We examined the existing caselaw on the subject and saw that the law is underdeveloped in this area, leaving the parties unsure as to when the contingency is satisfied. We also saw how … Continue Reading
Co-Author: Richard Byron Peddie, Esq. The Colorado Real Estate Commission has revised the Exclusive Right to Lease listing agreement (ERL). There are four new engagement forms for leasing. New Rule (E-40) regulates the preparation of market analyses by brokers. The Commission has also altered the Licensee Buy-Out Agreement, utilizing an addendum which can be attached to … Continue Reading
Co-Author: Richard B. Peddie, Esq. What is necessary to satisfy a requirement for “loan approval” in a financing contingency contained in a real estate contract? The answer to this question depends upon two things: (1) what constitutes loan approval under the contract; and (2) whether or not the loan approval clause, and its requirement, can be … Continue Reading
Co-Author: Oliver E. Frascona, Esq. I have a lease listing. A potential tenant initially contacted me through another broker. Now the potential tenant wants to work with me directly. How can I avoid a procuring cause dispute with the broker who initially brought me the tenant? Some brokers invest substantial time with owners, buyers, and … Continue Reading
I am a commercial landlord. A tenant breached a lease and voluntarily vacated the property prior to its expiration. I re-rented the premises at a higher rate than was charged to the first tenant. The first lease provided that upon an early vacation by the tenants, I am able to retain all of the security … Continue Reading
Co-Author: Richard L. Levy Most restaurants and all bars require a liquor license to survive. Much of the value of a property can depend upon a liquor license. A successful sale or lease of commercial real estate may depend upon the new occupant’s ability to obtain a new or transferred liquor license. This article outlines some … Continue Reading
Purchasing real estate for investment purposes may be the easy part. Managing the property can be the challenge. Multiple unit dwellings and commercial buildings are often managed by a property manager or property management company independent of the property owner. Single unit or single properties or duplexes, on the other hand, are often managed by … Continue Reading
Relationships Made Easy By Marital And Cohabitation Agreements Are you planning on getting married, but want to decide in advance what to do if the marriage does not last “forever?” Or, are you married, but realize that if you do get divorced, you want it go as smoothly as possible without a lot of expense … Continue Reading
For years buyers were told that the solution for those nagging “property condition” problems was to have a new home inspected and obtain a Homeowner Warranty Policy (“HOW”). That way the buyer would know the current condition of the property, and if certain things failed, there was a policy to cover them. Some real … Continue Reading
