Denial of Coverage for Damage from the Great 2013 Colorado Floods With the massive devastation and destruction to homes and personal property caused by September 2013 Colorado flooding, insurance companies will aggressively be looking for ways to reduce their losses. In many instances coverage will be denied for claims. While not all of these denials … Continue Reading
Also see: Contracts Don’t Enforce Themselves (Re/Max of Boulder Podcast 10/20/15). Question: A buyer put up five thousand dollars of earnest money and entered into a contract to buy a house. The buyer has a clear trail establishing that she valiantly pursued getting her loan, yet she couldn’t get financing. She timely exercised her loan … Continue Reading
Q: I’m under contract to purchase real estate in Colorado. The area around the property has been impacted by wildfires. Am I able to get out of the contract? A: Summer 2013 has already been another difficult season for fires in Colorado, with the Black Forest, Royal Gorge and West Fork Complex fires following the … Continue Reading
Watch Jon Goodman’s Webinar: Escalation Clauses – A Lawyer’s Dream. In markets with shortages of inventory, buyers know that they must aggressively compete for the right properties. Yet purchasers do not want to pay any more than is absolutely necessary to buy the property. Purchasers sometimes submit “escalation” clauses in an attempt to tie up … Continue Reading
Legal Issues When Interest Rates Rise Webcast 6/24/13: You Don’t Know What You’ve Got Til It’s Gone: Legal Issues When Interest Rates Rise. Mortgage Interest Rates have been generally declining for nearly three decades. Many of us have never experienced the legal problems driven by rising interest rates. Learn how to anticipate, avoid, and sometimes … Continue Reading
Foreign Investment in Real Property Tax Act (Updated: 11/29/17) The federal Foreign Investment in Real Property Tax Act (“FIRPTA”) attempts to reduce opportunities for foreign persons to avoid U.S. income tax on their sales of U.S. real property interests. For that purpose, FIRPTA generally obligates any person who buys a U.S. real property interest from … Continue Reading
Many homeowners ask about the criteria for obtaining a loan modification through their existing lender. I have successfully assisted dozens of borrowers in obtaining modifications. This article will summarize some of the key characteristics of a successful loan modification request. However, before proceeding through these steps, borrowers may wish to contact their lender about a … Continue Reading
Question: I recently agreed to enter guilty plea to resolve certain criminal charges against me. What are the consequences to my Colorado real estate license? Answer: Agreeing to enter a plea of guilty or nolo contendere (no contest) to certain state and federal offenses can have important and lasting consequences on one’s Colorado Real … Continue Reading
The Statute of Limitations on a Colorado Home Loan Default Probably Isn’t What You Think. Q: What is the statute of limitations for lenders to pursue borrowers in Colorado who default on a home loan? A: Six years. Conventional wisdom has been that collection actions had to be brought by lenders within six years from the date … Continue Reading
Co-author: Zakary A. Kessler The question of whether certain behavior requires a real estate license is not only a logical place to begin a presentation on real estate license law, it is an important topic for general real estate practitioners. Business brokerage is an area that frequently raises the issue of whether activity requires a … Continue Reading
