Colorado Real Estate

The state of Colorado is located in the mid western part of the United States of America. Its geography is a mixture of peaks and plateaus as the western part Colorado is home to the Rocky Mountains, and the opposite side is composed mainly of high plains.

Before the year 1993, Colorado law states that only real estate agents can represent the seller. Now, this law has changed and the buyer and/or seller can represent themselves. Should they want to be represented by agents; the said agents can only act as transaction-brokers.

As is required in all states, a home seller has the responsibility to give equal opportunity to all those who are interested in his property. He cannot discriminate against anyone nor can he instruct an agent to set limitations on the sale.

For home sellers, there is a long string of real estate contracts that need to be accomplished. These include Listing Contracts (Exclusive Right to Sell / Buy), Sales and Addenda to Contracts, Disclosure Documents, Counter Proposals, among others.

In April 5, 2005, the Real Estate Commission in Colorado voted to use the property listing and buyer representation forms instead of the old ones, the existing Listing Contracts, which are still in use.

Following this move, the same Real Estate Commission, on October 4, 2005, has opted to use several new forms including property disclosure, tenant contract, common interest community, and brokerage duties disclosure (REO and Non-CREC Approved Listing Agreements).

The old forms are still being used and accepted today, but by January 1, 2006, the use of the real estate forms that the Colorado Real Estate Commission approved will be mandatory, and the old real estate forms will be repealed.