New Closing Instructions with FIRPTA, Wire Fraud, and Withholding Alerts

The Colorado Real Estate Commission just adopted new closing instruction forms.

Implementation Date

You can use the current Closing Instructions form or the newly adopted form until July 1, 2019.  On July 1, 2019, you must use the new form.

What's New?

Below is are redline excerpts of the main changes from the old form.  As you’ll see, the main changes focus on educating clients about responsibilities for preparation of certain documents, FIRPTA, wire fraud, and withholding for out of state residents.  (Click on each document to enlarge)

Preparation of Documents Clause
Preparation of Documents: Deed, Bill of Sale and Closing Statement
FIRPTA and Withholding Clause
FIRPTA and Colorado Withholding
Wire Fraud Clause
Wire and Other Frauds

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