Colorado Residential Contracts Addenda Package
O R D E R F O R M E X P L A N A T I O N
Real Estate
Dodd-Frank, Consumer Financial Protection & Owner Financing
What do Dodd-Frank and Consumer Financial Protection Bureau Regulations Mean for Owner Financing in Colorado? The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) introduced a host of new regulations designed to protect consumers and avoid another housing collapse. Key components of Dodd-Frank were designed to create greater certainty that borrowers can repay their … Continue Reading
Failure to complete the Seller’s Property Disclosure
Failure to complete the Seller’s Property Disclosure and the “as is” Language in the contract doesn’t avoid the need to disclose known problems Webcast. 12/16/13: Failure to complete the Seller’s Property Disclosure and the “as is” Language in the contract doesn’t avoid the need to disclose known problems. A November 2013 Colorado Court of Appeals … Continue Reading
Recognizing Broker’s Susceptibility to Scams
Recognizing Real Estate Broker’s Susceptibility to Scams Webcast 9/28/13: Recognizing Broker’s Susceptibility to Scams. The natural optimism and goal orientation of Brokers, combined with big rewards from successfully closed deals, makes Brokers susceptible to scams. Learn how to avoid these scams before you’ve wasted too much time or effort. Red Flags for Brokers: Never met … Continue Reading
Floods – Denial of Coverage
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
Contracts Don’t Enforce Themselves (Buyer Perspective)
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
The Impact of Colorado Fires on Contracts to Purchase Property
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
Escalation Clauses: A Lawyer’s Dream
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
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
Don’t Forget About FIRPTA
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