FIRPTA: Foreign Investment in Real Property Tax Act The federal Foreign Investment in Real Property Tax Act (“FIRPTA”) generally obligates any person who buys U.S. real estate from a foreign person to escrow 15% of the purchase price from the seller to motivate the foreign seller to file a U.S. tax return. A buyer who … Continue Reading
Property Specific Deed Exceptions. This webcast walks you through an example where this distinction between a general exception deed and a property specific exception deed makes a difference and explains why most Colorado title companies initially prepare a deed form that is inconsistent with the Colorado Real Estate Commission contract. 2/23/18: Property Specific Deed Exceptions. … Continue Reading
The “Statute of Frauds” and Contracts Concerning Real Property Every grant or assignment of an existing trust in lands, goods, or things in action must be in writing and subscribed by the party making it or his agent lawfully authorized. If it is not in a proper writing, it is void under Colorado law. Likewise, … Continue Reading
Why Buyers need Title Review. 12/7/17: Why Buyers need Title Review. This webcast explores what false reasoning people might use to rationalize not using a lawyer to review the title when they purchase real estate.
A Counter Proposal Destroys the Offeree’s Power to Accept the Initial Offer.
Buyer Contingencies: Learn how to avoid creating false expectations in your buyers about their ability to back out of a deal. Learn how to assist your Sellers when you suspect contingencies are being misused, and when they should be referred to an attorney. 4/27/16: Buyers Using Contingencies for Purposes other than they were intended! While … Continue Reading
How to Draft Better Additional Provisions in the Colorado Contract to Buy and Sell Real Estate: Parts I – IV. 8/2/17: How to Draft Better Additional Provisions – Part IV. The A, B, C’s of writing additional provisions with examples. 7/12/17: How to Draft Better Additional Provisions – Part III. Recognizing the difference between an … Continue Reading
How do Buyer’s Enforce Contracts against Balking Sellers? Colorado Contract to Buy and Sell Real Estate. 4/24/17: How do Buyer’s Enforce Contracts against Balking Sellers? Learn what buyers can do when sellers want to breach the buyer’s contract and move on to a better buyer. Related Video: 10/26/15: Seller Defaults Just Before Closing.
While letters of intent can be a constructive step towards reaching a contract, they have pitfalls, especially for sellers and landlords.
Earnest Money Release Revolution: The 2017 Colorado Real Estate Commission Approved Earnest Money Release form no longer has an automatic release. 2/27/17: Earnest Money Release Revolution. Prior to 2017 the Colorado Real Estate Commission Approved Earnest Money Release form essentially provided for a full release between the buyer and the seller (if both sides signed … Continue Reading