Co-Author: Karen J. Radakovich, Esq. General Concepts Bankruptcies affect real estate brokers. For example, listing brokers are typically hurt when their short payoff sellers file bankruptcy. It is now common for a buyer’s agent to discover that a builder/seller has filed bankruptcy. Real Estate brokers need to have a basic understanding of some features of … Continue Reading
Consider the following buyer, Frank, in your sphere of influence. He saved his nest egg over a successful 25 year career. Frank accepted a buyout from his employer in another state and took early retirement to begin his encore career, starting a new small business in Colorado. He funded his venture with his own … Continue Reading
Co-Author: Oliver E. Frascona This article was originally published in the February 2009 issue of NEW Business Denver (NBD-Feb-09_Vol-1_No-5B-lr). Take Steps to Protect Your New business – PDF Legal Tips to Avoid Being Blindsided During Your Launch As a new business, you’ve probably come across your share of surprises since you decided to launch your venture. … Continue Reading
Co-Author: Jeremy S. Durham At the time of the publication of this article, the seizing of the credit markets seems to have stalled all but the most conservative commercial real estate loans. Many commercial real estate ventures are financed with short term debt. Lenders are not renewing loans that have matured. Other lenders are not providing … Continue Reading
In the late 1980’s, the Colorado building community suffered through a bust. In many situations, contractors allowed their account receivables to mount in mistaken reliance upon the perceived strength of their mechanic’s lien rights. Though mechanic’s liens can be tremendously powerful weapons in the collection battle, they are not all powerful. A sound account … Continue Reading
Co-Author: Jeremy S. Durham Buyers at foreclosure auctions must purchase with cash (eliminating much competition), often don’t have the opportunity to inspect the interior of the property, and risk being redeemed out by junior lien holders. Generally, foreclosure buyers acquire properties at below their retail fair market value. While it is intuitive that they should be … Continue Reading
Co-Author: David A. Farus, Esq. On September 1, 2008, Colorado became one of the last states in the Country to impose a warranty from a landlord to a residential tenant that the leased premises are fit for human habitation. Whether this statute will have a significant impact in day-to-day leasing remains to be seen. Even … Continue Reading
In today’s slower real estate market, lenders are more cautious about making loans and sellers are more inclined to agree to carry financing to sell their properties more quickly. When a seller carry’s financing, the seller bears risk that the buyer might default on the promise to pay back the loan. But if a buyer … Continue Reading
Is it time to buy or lease a new copier or other electronic productivity tool? Read the fine print. When you have a dispute, you have agreed in many cases to “arbitrate” (private court without appeal) rather than litigate. So when it does not work, you will not be suing the vendor for the … Continue Reading
Supervision, Office Policy and Attention to Detail You have just opened a new brokerage company and things are really happening. Agents want to “come over” and people are taking listings, showing buyers and making sales. Man, that is the way it should be. What should you be doing to make sure that it all … Continue Reading
