In nearly every real estate contract the seller agrees to provide the buyer with title insurance.  Before closing we will send you a “title commitment” for your review.  The title commitment is essentially our promise (i.e., commitment) to issue the title insurance policy after closing, and contains the same terms, conditions and exclusions that will … Read more

Who signs the contract?  How is it signed? What type of deed do we use? Do we need to open a probate? Should the estate transfer to the heirs before a sale?  What are the court “Letters” all about? These are just a few of the many questions raised when a property sale involves a … Read more

This article addresses one of the most common, and least understood, closing snags – the absent party. With preplanning an absent party is no big deal. Without preplanning and proper documentation, the absence will delay the closing and could cost you the deal. The Power of Attorney Most people have heard about Powers of Attorney … Read more

Buying and selling a home is an exciting time, but there can be pitfalls for unsuspecting consumers. Buyers and sellers need to be aware that criminals continue to use wire fraud schemes to steal money meant for home purchases or to divert the proceeds from the sale. Beware of email that includes wire instructions Most … Read more

Colorado recognizes two types of warranty deeds for transfer from seller to buyer. While both types of deeds contain warranties from the seller to the buyer, there is one major difference. What are the warranties? The warranty deed form is actually dictated by statute, at C.R.S. 38-30-115. In substance, it’s a transfer by the grantor … Read more

Section 8.1.3 of the Colorado Real Estate Commission approved Purchase and Sale Agreement allows the parties to choose whether the buyer’s title insurance policy will include Owners Extended Coverage (“OEC”). Owners Extended Coverage is a way to maximize title insurance protection beyond the basic coverage.   Standard Exceptions With every title insurance policy, there are … Read more

Construction projects are everywhere these days, and with all that added activity comes all kinds of issues concerning payment disputes with the contractors doing the work.  One of the most common legal questions we get from investors doing fix & flips is how to get rid of mechanics liens on the property. For those dealing … Read more

Mechanics liens are a big headache when it comes to selling because the title company will require that the lien be paid in full. Title Company Remains Neutral It doesn’t do a lot of good to show the title company how bad the contractor was or that the contractor doesn’t deserve the money. The title … Read more

If you’re an experienced real estate flipper you may know about hold-open title policies because they can save you a lot of money on title premiums. Here are the ins and outs of hold-opens: What is a Hold-Open? When buying a home you usually receive an owner’s title insurance policy when you purchase. However, if … Read more

Is your seller a resident of Colorado? If not, the title company may be required to withhold proceeds of the sale for Colorado income tax. When Does Withholding Apply? The Colorado Department of Revenue requires withholding from sale proceeds anytime the seller is a nonresident and the sales price is greater than $100,000. The law … Read more

A decade ago many real estate professionals predicted that digital document signing would quickly replace the traditional conference room closing with wet signatures on paper. Not much has changed with the signing process. We still sign on paper documents with blue ink. What has changed, however, is where and when we sign. Consumers are Looking … Read more

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We often get requests from real estate brokers wanting to know all the addresses of the owner-occupants in a certain neighborhood.  This is typically referred to as a Neighborhood FARM report. Brokers use the these to send postcards, find prospective sellers, etc. What most brokers don’t know is that you can obtain these reports (with … Read more

A Case Study Lots of would-be home buyers will choose to rent instead of purchase because they don’t see enough monthly savings between their current rental payment and a mortgage payment.  If a mortgage payment is more or the same amount as the rent, lots of renters will stay put. This type of short term … Read more