The new “Time of Day Deadline” allows parties to establish the end of the day for most (but not all) deadlines in the Colorado Real Estate Commission contract to buy and sell.
The pre-2022 “Loan Termination Deadline” is splitting into two concepts: the New Loan Terms Deadline & the New Loan Availability Deadline.
Learn about the new Water Rights and Mineral Rights Examination Deadlines in the 2022 Colorado Real Estate Commission Approved Contract.
Once a buyer submits and Inspection Objection, and before the contract dies naturally after the Resolution Deadline passes without a resolution, can the buyer kill the deal before the end of the Inspection Resolution Deadline?
Q: Are rental late fees limited in Colorado? A: Yes. As of October 1, 2021, late fees in residential Colorado leases are limited to the greater of: (i) $50, or (ii) 5% of the past due rent payment. The changes discussed in this article were enacted in Senate Bill SB21-173: Rights in Residential Lease Agreements. … Continue Reading
Co-Author: Lauren M. Taylor[i] This summer, the Colorado General Assembly adopted new limits on the amount of retainage a property owner can withhold from contractors and subcontractors in private construction contracts. Retainage and Limits Retainage is a percentage of a contract or subcontract price withheld from a contractor by a property owner until the completion … Continue Reading
How to avoid risks of allowing a seller to remain in the property after closing.
Colorado Real Estate Brokers: If you decide to conduct a showing or open house, you should consider protecting yourself, your brokerage firm, and your clients from COVID-19-related risks.
Loan Due On Transfer The current conventional wisdom is that so long a lender is receiving payments, the lender will not call a loan in default just because the borrower conveyed title, without paying off the debt, in violation of “due-on-transfer” clauses in the mortgage. That conventional wisdom is based, however, on experiences born out … Continue Reading
Sellers Don’t Give Up Your Clout Too Soon In tight inventory markets, sellers sometimes want to kick a buyer out of the deal because, for example, the buyer’s proof of funds or loan commitment disappoints. But once a buyer has a contract, the buyer has the upper hand. The seller will have a challenge kicking … Continue Reading