We have signed the contract agreement and have already requested that the buyers push back our closing date. They did not agree to that so we are exploring every option possible.
A contract is a contract...Nevertheless, if you wish to terminate the contract or anticipate that you will likely not be willing to perform, you should contact an attorney to fully explore your rights, remedies, and risks. That needs to be a conversation which will explore various facts so it is... Read more »
I have land for sale in Colorado and a very interested buyer from Oklahoma. They have seen a video of the property but they can't travel to see it themselves until May or June because of COVID-19. What is the best agreement to make to sell the property and accommodate them? A Right of First Refusal... Read more »
Dear Colorado Land Sale Client: I would recommend the following for this transaction: (1) an Option To Purchase for (2) duration of X months (3 months, perhaps ?), with (3) nominal consideration (1% of the sales price, perhaps ?) which will be credited back to the Buyer upon closing. If the... Read more »
i know in Colorado security deposits have to be refundable, and so does pet deposits, but can i put a pet fee on my lease that can be non-refundable? just wondering if that's legal in Colorado
Yes - You can use a Non-Refundable Pet Fee in Colo.
Contract Request: if I understand your question, you need a Purchase Contract (?) for real estate (?) with two buyers, and then a subsequent assignment of that contract (?). We offer Fixed Fee for transactional work of this nature. It would be less than $1000.00. But I'd really need to get a full... Read more »
HOA wants to know if CC&R can state that HOA has the right to spray individual owner's property for noxious weeds, or does HOA needs approval from each individual owner to do so?
This is dependent upon the specific language in the Covenants. Generally, an HOA would have the right to demand the owner spray and to enter and spray if the owner fails or refuses and to fine owner and assess costs to owner. But, you should get a specific reading of your documents before you... Read more »
We are still interested in the house but are willing to cancel with a loss if need be.
Can you postpone the closing without penalty? If you can get the Seller to agree to an extension, yes. However, if Seller will not agree then you can refuse to close and will likely suffer the loss of your earnest money and any other penalties which the contract contemplated.
You may want... Read more »
I am under contract to sell my condo, and the Buyer is sending a notice to terminate the contract because they don't like the HOA interaction they have had with some questions. Is that grounds for them to terminate in Colorado? Seems like a weak argument.
A buyer can terminate....but that does not mean that you have to agree to release the earnest money back to them.
They talked me into selling my timeshare as they had a buyer already for it. I had to send a fee (I never should have done this I know!) of $6,000, then I sent money 2 more times for a total of $22,628 to a title closer at Colorado Title. This is a legitimate business and they stole all of my money... Read more »
I've had run-ins with this same company. I found that it is not a legitimate company and doesn't even exist other than virtually. Please shoot me an email or give me a call if you'd like more information. I'm teaching much of the day today, but will get back to you as soon as possible.
I purchased land on October 29th, 2018 and on the memo line I wrote "purchase of 40 acres balance approximately 41,000". The total price was 121,000.00 and I put 80,000.00 down and rest to be paid at closing. Seller hears that I have an enormous offer and begins figuring a way to maintain... Read more »
Is it good enough? It is certainly better than nothing. It is likely that the check along with testimony will be sufficient to prevail. You have an an issue that all contracts for the purchase and sell of real estate in CO must be in writing, as such if the opposing smells a big profit you need... Read more »
I am getting ready to sell, as we BOTH agreed on, and now she's trying to interfere saying that she gets a say in every offer, etc I have.
It depends on what the decree says. Many decrees address who will be involved in selection of realtor and sales price as well as a contingency if the home does not sell within a specified period of time.
There is an area behind four homes in our area that is a very steep, collapsing hill. The home buyers understood from a design plan that the developer would build retaining walls to prevent the hills collapse. Our builder is now saying it is the responsibility of the HOA - not him
Who owns and is thus responsible for the retaining wall? Generally, a builder initially owns all common areas, but at some point in the development process the developer assigns ownership of the common areas to the HOA. After this assignment the HOA owns the common areas/walls and is responsible... Read more »
Does the person wanting to keep the house buy out the others with property value or equity in it
Certainly one co-owner can buyout the other owners, assuming that you can negotiate a purchase price that is acceptable to all.
Lived here almost 7 yrs,have made *several requests for repairs via email,maintenance portal,txt mssgs.the roof leaks,is deteriorating,&has black mold.paying for 5bdrm but cant utilize upstairs rooms.Also,has no heating upstairs.Heating vents blow inbetween walls&floors cause there's not any... Read more »
You should review the Colorado Warranty of Habitability. The legislature significantly strengthened this last year to provide assistance to tenants.
This is a fairly technical issue so I recommend contacting an attorney to discuss your rights, remedies, and risks before withholding rent.
I co-purchased a rental apt with my sister to use as a home base for our business in Denver, CO. I live in Tennessee. The apartment was part of a larger investment I/we made toward a shared business that has since gone bankrupt and failed. It was verbally agreed that we would keep (and perhaps... Read more »
Hopefully, you have some of these communication and agreements documented. You'll need to protest the probate of sister's estate RE the ownership of the Condo.
This could get complicated and require multiple appearances in CO, as such it is advisable that you obtain CO legal counsel to... Read more »
I have not been told a new closing date as of today. We all signed a contract, them to sell, me to buy on the above mentioned date. Do i have legal recourse?
Yes, you can bring a suit against seller to enforce your contract, it is called specific performance. If you are unfamiliar you may want to contact an attorney to assist you.
My lender is requiring a statement of authorization as my property is owned by my holding company which is a LLC which is wholly owned by myself. They want me to have a certificate of authorization recorded by the county. I don't know which county to file it with and also what this accomplishes as... Read more »
It's filed in the county where the property is located. It's the document that verifies that you have the authority to act on behalf of the LLC. Just because you own it does not automatically mean you have the authority to make decisions on behalf of the LLC. Notary's county does not matter.
The county issued a new deed of trust to me. After 4 months I started getting a bill showing that I also owed over $4,000 of the past persons bill as well, before I even requested billing from the water company. The water company is saying that they have a perpetual lien against my property. How is... Read more »
Your unfortunate situation is a textbook example why non-lawyers should always ask an experienced lawyer before they do something they have never done before. Unless you can somehow convince the water company to let you off their very sharp-barbed hook you are stuck. And no one else (who has a... Read more »
Most of the money is owed to a lumber store.
Can creditors still pursue us after the lien period is done or would they then be required to pursue the builder who actually owes the funds and used out money to pay other debts?
Dear California Homeowner: If your contractor is licensed in the state of California, then you have three steps to take, in my opinion: (1) send a "legal demand letter" to the Contractor demanding they pay the supplier and any other suppliers/subs owed money within the next 72 hours (copy the... Read more »
This is actually the second time our landlord has done this. We live in a duplex, and our land lord posted it for sell without notifying us. What happens when it sells and changes hands?
Yes a landlord can sell the property. The buyer must honor your lease.
My buyer has cash but wants to use a land trust company to purchase. Can this work?
If you have purchased the home, then yes, you can sell it. But, your question seems to indicate that your seller has never delivered title to you. In order to sell you'll need to deliver title to the buyer. Hopefully, your seller will cooperate.
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