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COVID-19 Colorado Real Estate Law Questions & Answers
2 Answers | Asked in Contracts and Real Estate Law for Colorado on
Q: Buyer can't see land because of COVID-19? A Right of First Refusal or Option to purchase best for seller?

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... Read more »

Donald C Eby
Donald C Eby answered on Apr 4, 2020

Why don't you just put the property under contract with a closing date in June and an option to terminate after inspection?

An option does not obligate them to buy, but it does obligate you to sell to them, i.e. you can't sell to anyone else in the mean time. I don't see...
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1 Answer | Asked in Real Estate Law for Colorado on
Q: We are 2 days from closing on a house in CO. With COVID 19 pandemics affect on the country can we postpone the buy?

We are still interested in the house but are willing to cancel with a loss if need be.

Donald C Eby
Donald C Eby answered on Mar 17, 2020

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...
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