Tools & Resources

Forms & Contracts
  

Colorado is a Buyer-Beware State
(one of the worst in the United States)

In 2005, all home buyers and sellers in Colorado have to contend with new Real Estate Contracts, new Definitions of Working Relationships, new “Phantom” names for real estate brokers, new mazes-of-concealment, and an entire State where there are no State requirements to be a home inspector or a home loan lender.

Our residential real estate Forms and Contracts are written by the (CREC) Colorado Real Estate Commission Forms Committee and approved by CREC for use throughout the State. These residential Forms and Contracts are the ones used almost 100% of the time in all of Colorado. Yet, these same Forms and Contracts have many confusing and pro-industry clauses in them. If you are not protected from these traps you are likely to be another casualty of the home buying process that was designed to favor everyone except you – the buyer.

Colorado real estate laws and rules have further merged, fused, confused, and co-mingled the inherent conflicts of interest between the seller-side and the buyer side of real estate. From all this, consumers have a growing need for the professional PROTECTION, NEGOTIATIONS, ADVOCACY, AND REPRESENTATION that only true exclusive buyer real estate companies provide.

Here is the list of COMMON TERMs and our consumer client’s definitions of these same terms. (These are not legal definitions but these are the definitions that our clients commonly give to these terms; and yes, there might be a bit of our definitive observations about some of these terms too.)

Following this dictionary of COMMON TERMS is a list of standard CREC (Colorado Real Estate Commission) most commonly used Forms and Contracts. You can simply select the Form or Contract you wish to see; then you can see that Form/Contract in its entirety along with our client’s and our non-legal explanatory comments about that particular Form/Contract.
  


Most Commonly Used Forms/Contracts

Listing Contracts (these can be “listing” a property or a person)

- Exclusive Right-To-Buy Contract (Buyer Agency Contract for Residential) BC17-5-04
- Exclusive Right-To-Buy Contract (Transaction-Broker for Residential) BC27-5-04
- Exclusive Right-To-Sell Listing Contract (Seller Agency Contract for Residential) LC10-5-04
- Exclusive Right-To-Sell Listing Contract )Transaction-Broker for Residential) LC20-5-04

Sales Contracts (historically called this; but we refer to these as the Buyer’s Purchase Contracts)

- Buy/Sell Contract (Residential) CBS1-7-04

Addenda to Buy-Sell Contracts

- Lead-based Paint Disclosure (Sales)…and we add (Purchases) LP45-5-04
- Inspection Notice NTC43-5-04

Disclosure Documents

- Brokerage Disclosure to Buyer BD24-5-04
- Definitions of Real Estate Brokerage Relationships DD25-5-04
- Seller’s Property Disclosure (Residential) LC18-5-04
- Square Footage Disclosure SF94-5-04
- Counterproposal
- Counterproposal CP40-5-04

There are many other CREC Forms and Contracts that we occasionally use, but the above are the most common ones used in home purchases.
 

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BUYERS ONLY AMERICA REALTY
 9101 E. Kenyon Avenue, Suite 2000; Denver, Colorado 80237-1854
Office: 303-713-1122     •     Toll Free: 1-888-552-8937     •     1-888-55BUYER
E-Mail: Barry@BuyersOnlyAmerica.com
Fax: 303-713-0446

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