Are you about to co-own real property such as a house with a roommate, significant other, or business partner? One of the best ways to ensure a fair and equitable outcome no matter how well the relationship ends is through a tenancy in common. This blog walks you through Colorado law on tenancy in common, the best legal fallout plan for real property co-ownership.
Read MoreAre you and your fellow property owners butting heads? Can you never seem to agree on the use of the building? Do you constantly find yourself carrying more than your fair share of the burden of property ownership? A partition action may be just what you need.
Read MoreTypically, Buyer is liable for all closing costs. Seller Concessions are closing costs that Seller pays instead. This includes property taxes, title insurance, loan origination fees, inspection fees, recording fees, appraisal fees, and attorney’s fees.
Read MoreAre you planning on buying a home in the Denver/Boulder area? Do you know how to navigate through inspection resolutions, earnest money, and party wall agreements in Adams or Arapahoe County? Purchasing real estate in Colorado can be a long and stressful process, but GLO is here to help. This blog guides you through these residential purchase issues so you can be closer to owning your own home.
Read MoreAre you buying or selling a home on the Front Range? The Colorado Real Estate Commission requires all real estate brokers use a standard contract for the buying and selling of a home. Thus, you should read this blog to become more familiar with this contract before buying or selling your Colorado home.
Read MoreFor homeowners in Colorado's vibrant real estate market, the initial excitement of buying or selling a property often comes with a tangible commitment: earnest money. This deposit, submitted by the buyer, serves as a powerful demonstration of serious intent. However, many homeowners are unaware that while earnest money is designed to protect both parties, its handling, especially if a contract terminates, is a frequent source of confusion and dispute, potentially turning a "good faith" deposit into a contentious financial battle.
Read MoreIn Colorado, a real estate agent can have two types of relationships with buyers or sellers. They can either be a transaction broker, or they can be an agent that represents one specific party in a real estate transaction. The two roles have some key differences, and it is important that you, as the buyer or seller, know who you’re dealing with to ensure a smooth transaction. This blog breaks down the key differences and demonstrates why seeking out an attorney may still be in your best interests when buying or selling real estate.
Read MoreAre you buying or selling a home in Colorado? Are you familiar with the various ways to receive financing outside of a conventional mortgage? Have you ever considered Seller Financing to secure your transaction? GLO specializes in assisting home buyers and sellers by counseling them on their options to maximize investment and to ensure they understand one of the largest investments of their lives.
Read MoreAre you looking to purchase a home in Denver, Boulder, Adams or Arapahoe County, or anywhere else along the Front Range? Do you plan to use gifted money for your down payment? If so, ensure that your lender’s underwriter declares you as financially fit using a gift letter.
Read MoreThe Colorado Real Estate Commission (“CREC”) has ensured that residential Sellers and Buyers abide by the Lead-Based Paint Disclosure federal regulation by including a lead-based paint provision in Section 10.10 of the CREC approved Contract to Buy and Sell Residential Real Estate. It is important to note that changes to the Contract were made effective on January 1, 2019. The changes to Section 10.10 of the Contract now allow Buyers to “waive the failure to timely receive the Lead-Based Paint Disclosure,” if the Buyer does not timely receive such disclosure.
Read MoreThe idea behind property disclosures is to ensure that a buyer knows what they are purchasing. A seller of real estate cannot be deceitful when attempting to sell a property. A buyer must know what “as-is” means before purchasing a property. For example, if a seller knows about a sewage repair that needs to be made on the house, this must be disclosed. It is unfair for a buyer to have to purchase a house without knowing about the mess that needs to be cleaned up. Honesty is the best policy for sellers and buyers when purchasing real estate in Colorado.
Read MoreAre you looking to buy or sell residential real estate in Colorado? Colorado has over eight thousand (8,000) HOAs throughout the state. So, if you are hoping to buy or sell real estate, here are a few helpful tips to facilitate a seamless transaction.
Read MoreFor many, purchasing a home is the largest transaction a person enters in their life. With real estate brokers, appraisers, mortgage lenders, and sellers all feeding you information during the home purchase process, you may resist adding attorneys to the mix. However, this blog explains why having an attorney quickly review your purchase contract in a Colorado home sale might save you time, money, and stress in the long run.
Read MoreAre you looking to buy or sale your home in Boulder, Denver, Adams or Jefferson County, or anywhere else along the Front Range, you could save thousands of dollars by not hiring a broker. “FSBO” means “for sale by owner,” and with sites like Zillow, it’s easier than ever. However, Zillow can’t save you from common pitfalls. Read this blog to learn how GLO can save you money and liability.
Read MoreAre you looking to buy or sale your home in Boulder, Denver, Adams or Jefferson County, or anywhere else along the Front Range, you could save thousands of dollars by not hiring a broker. “FSBO” means “for sale by owner,” and with sites like Zillow, it’s easier than ever. However, Zillow can’t save you from common pitfalls. Read this blog to learn how GLO can save you money and liability.
Read MoreFor most homeowners, selling a property in Colorado is a monumental financial and emotional undertaking. As you prepare to transition from your current residence, you'll encounter a diverse team of professionals. However, many sellers might question the necessity of adding a real estate attorney to the mix, overlooking the unique and critical legal insights an attorney provides, particularly concerning the Colorado Real Estate Commission (CREC) standard Contract to Buy and Sell Real Estate. This oversight can lead to significant financial and legal vulnerabilities.
Read MoreAre you looking to buy residential property in the Denver/Boulder Metro area? If so, make sure you own your Front Range property outright. Read this blog to learn three tips on ensuring your ownership of the property. This blog discusses key points on recording title in Colorado, title insurance, and owners extended coverage.
Read MoreBuilders of new construction are not required to use the Colorado Real Estate Commission form contract (“Colorado Form Contract”). The Colorado Form Contract is required to be used by real estate brokers in the transaction for previously owned homes to protect buyers and sellers from common disputes that arise in residential real estate transactions. Because these contracts are usually written by the builder’s attorney in the builder’s favor, the buyer is well advised to have their attorney review any contract for the purchase of new construction.
Read MoreA Statement of Authority vests an individual with unambiguous authority to hold and convey real property on behalf of an entity. Under Colorado law, an entity includes any corporation, government or governmental subdivision or agency, business trust, estate, trust, limited liability company, partnership, association, or other legal entity. Entities are allowed to hold and convey real property in the entity name in Colorado which is helpful for business versatility and estate planning.
Read MoreAre you a buyer or seller in Colorado who’s executed a Contract to Buy or Sell Real Estate? It’s an exciting time for either party and the sale may feel like a done deal at signing, but unfortunately issues can arise between signing the Contract and closing. This Blog discusses Section 18.1 of the Contract, which outlines specific steps that must be taken by both buyer and seller in the event of damage to the property and a consequent insurance claim.
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