Tag Archives: buying a home

New Colorado Contract to Buy and Sell Real Estate for 2019

This article is intended for educational purposes only and not as legal advice.

The Colorado Contract to Buy and Sell Real Estate which is mandatory for use by licensed real estate agents is typically modified every two years; however, if there is a change in the law through a statute, regulation or case, the contract is immediately modified to comport with the change in the law.  On March 7, 2019, House Bill 19-1098 was signed and passed which affects paragraph 13 of the contract.  Hence, the new contract that became mandatory 1/1/19 has been modified and is available for use now and mandatory 7/1/19.  There are new closing instructions for use by licensed agents also mandatory 7/1/19.

House Bill 19-1098 deals with deeds to real property and amends C.R.S. 38-30-113 regarding deeds.  In a nutshell, HB 19-1098 implies specific warranties in certain deeds without the necessity of enumerating them individually and implies many exceptions previously enumerated.  For instance, the words “warrants the title” in a warranty deed automatically now includes specific warranties that previously were typically individually listed.  Further, certain exceptions such as the current and future year’s property taxes; anything that would have been disclosed by an improvement survey plat and all matters of record in the county where the property resides are now all automatically included as exceptions to the deed merely by inserting the words “subject to statutory exceptions” (defined at §38-30-113(5)(a), C.R.S.) in the transfer of title paragraph.

In fact, title companies now are not allowed to insert anything other than “subject to statutory exceptions” in the exception paragraph of deeds they prepare unless the title company is instructed in writing by both the grantor and the grantee or their authorized agent.

HB-19-1098 affects just one provision of the Colorado real estate contract mandatory for use by licensees: paragraph 13, Transfer of Title.  This paragraph has been shortened significantly now that “subject to statutory exceptions” language is referenced in lieu of many previously listed deed exceptions.  It’s much shorter now and basically just requires the buyer to select the deed type.  A redacted version of the new paragraph 13 and discussion of this new contract change necessitated by HB 19-1098 can be found at https://www.colorado.gov/pacific/dora/division-real-estate-contracts-and-forms?utm_medium=email&utm_source=govdelivery.    A link to the new contract and a redline version showing what was changed can be found near the bottom of the page.

Visit www.cherrycreektitle.com to view numerous articles I’ve written primarily on real estate legal topics (most specific to Colorado) and many are available in video form by visiting the Cherry Creek Title Services YouTube channel.


Selling Your Home “For Sale by Owner”

Cherry Creek Title Services logo in black and whiteCherry Creek Title has specialized in “For Sale by Owner” transactions for over 20 years. We have a well experienced staff including 2 staff attorneys to lend their expertise for you during every step of your closing so you can feel content with your choice to sell your home without a real estate agent. We also offer many articles containing helpful tips and resources specifically for “FSBO” transactions.

We make it a point to know our clients and customers, and our flexible approach is designed to meet each individual’s needs to the best of our ability. Clients value our common sense approach to underwriting and our dedication to accommodating everyone’s closing needs, including out-of-office and after-hours signings. we build lifelong relationships with our clients and look forward to assisting you in your next transaction.

Selling you home for sale by owner can be overwhelming! You can find may helpful tips to assist you in selling your home by owner at our page titled  FSBO Tips and Resources.

Preparing your Residential Contract to Buy and Sell Real Estate is the first step on your way to the closing table.  You can download for free the purchase contract and other relevant forms  here:  Colorado Division of Real Estate Contracts and Forms.

Need help drafting your purchase contract? Check out this comprehensive step-by-step guide to draft your purchase contract written by our  in-house attorney and President of Cherry Creek Title Services, Inc.,  Michael Selinfreund titled Updated for 2019! Tips on Drafting the Colorado Contract to buy and Sell Real Estate.

at any time you have any questions, concerns or just want to know general information about your transaction, one of our staff members will be happy to assist you.  You can visit our office anytime between 9:00 am and 5:00 pm Monday thru Friday located at 3600 South Yosemite Street, Suite 510, Denver, Colorado 80237.  You can call any one of our knowledgeable staff members at 303.333.9737 or email mail@cherrycreektitle.com. Once you have completed your purchase contract, we will review it free of charge to insure it has been correctly executed.

The most frequently asked question is “How much are your closing costs?” Many title companies charge a premium to close your transaction and make cumbersome and costly requirements such as attorney opinion letters for you contract simply because you have no real estate agent involved. Cherry Creek Title will provide you with both competitive pricing and VIP service. We charge the same low closing fee for your FSBO sale as we do for a real estate agent – assisted transaction. We do not offer a bundled purchase closing fee – we will only charge you for the services provided to you. Below is a list of our most commonly charged closing fees. Designation of which party pays the closing costs can be negotiated in the purchase contract. for general closing costs go to our page titled Basic Rates

You can request a more comprehensive quote on title insurance and fees by filing out the form located at the bottom of our FSBO page.

You can feel confident selling your home “For Sale by Owner” when you use Cherry Creek Title Sevices, ryour “FSBO” specialist!


Tips to Protect Your Information During Your Real Estate Transaction


Real Estate Transactions are a Prime Target for Fraudsters!

When you buy a home you will be required to submit personal information to your lender and/or escrow agent. At Cherry Creek Title Services, we go above and beyond the industry standards to secure your personal information during and after your transaction. Here are some important tips to remember:

Always carefully examine the email address from which you receive updates on your transaction from your escrow officer to ensure it is correct. If an email seems suspicious, contact your escrow officer immediately.

Call your escrow officer  immediately if you receive an email requesting to change the wiring instructions for your transactions. DO NOT use the contact information provided in the email.
Carefully review your personal information on your transaction paperwork to ensure it is correct.Communicate or confirm any changes to the transaction with your escrow officer over the phone or in person.

Do not provide information about yourself or your transaction to any unknown or unnecessary parties.

Contact your escrow officer  if you suspect your email address is being improperly used or if you do not receive funds in a timely fashion.

Reprinted with permission of the American Land Title Association.
First American Title Insurance Company makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.
AMD: 05/2017


Protect Your Money From Wire Fraud When Buying a Home

Wire Fraud is Real – learn how to prevent wire fraud happening to you by watching this video presentation by First American Title