Avoiding Seller “Blank Check Risk” For Inspection Resolutions Any time a seller agrees to repair something for a buyer, there is the risk that the repair will cost much more than the seller expects. Learn the pros and cons of the five basic options for protecting your seller against that risk.
When to be Cruel to be Kind You are successful partly because you have an inclination to help people. Yet sometimes your desire to help hurts your clients and unnecessarily exposes you to liability. Consider the buyer who has remorse and wants to back of a deal at the last minute without a legal justification … Continue Reading
For example, the buyer’s loan objection deadline has passed and the buyer doesn’t have loan approval. Can the seller kick the buyer out of the deal at that point?
Must You Extend Listing when Purchase Contract Closes After its Expiration? Webcast 6/18/19: Must You Extend Listing when Purchase Contract Closes After its Expiration? Consider a situation where you have a six month listing agreement. The seller enters into a contract five and one half months into the listing that is scheduled to close after … Continue Reading
Selling a Property Anonymously Some sellers seek to quietly sell their property. Learn how to (1) dial into the seller’s expectations, (2) accomplish the seller’s goals and (3) manage the risks of not widely advertising the property to the whole market.
The restrictive covenant on my property that says ‘no oil/gas drilling allowed’ means no one can develop the minerals under my property, right? Not exactly. Buyers of Colorado real estate often mistakenly rest easy knowing their property is subject to a restrictive covenant disallowing oil and gas development (referred to herein as a ‘no oil … Continue Reading
The sale of an interest in real property within the United States by a “foreign person” is subject to tax liability under Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). FIRPTA authorized the United States to tax foreign persons on dispositions of U.S. real property interests. Generally, any buyer of real property from … Continue Reading
Options for Buyer on Inspection Issues in the 2019 Colorado Real Estate Contract. Under the pre-2019 contract, the buyer had three basic options if the Buyer discovered property condition problems: (1) Do nothing and accept the condition of the property subject to the flaws; (2) Submit an objection and attempt to negotiate a change; … Continue Reading
Appraisal Issues Carved Out of Loan Termination Contingency – 2019 Colorado Real Estate Contract The Division of Real Estate has added language attempting to clarify that if its Contract to Buy and Sell Real Estate never had an Appraisal Objection Deadline, or if the contract lives past an Appraisal Objection Deadline, then the buyer cannot … Continue Reading
How to Address the Personal Property Form in the 2019 Real Estate Contract.