Legal Documents
The information below is not to be construed as legal advice, and is only intended to guide you through the initial learning process. While it is not mandatory, it is recommended that you consult Professional Legal Advice when completing any of these forms.
All legal documents mention herein can be found at the State of Colorado’s 2005 Approved Forms page. All links to legal documents link directly to the documents on this page. The explanations below are designed to give our customers an idea of which ones they will likely need. No explanations are provided for those that deal with listing contracts or real estate brokers (agents) as they are not applicable to FSBO buyers or sellers. We also have not included explanations for the forms that deal with landlord-tenant relations, for obvious reasons, as well as explanations for forms that apply to a very small number of people.
State of Colorado 2005 Approved Forms
Sales Contracts:
CBS1-07-04- Contract to Buy and Sell Real Estate (Residential)
CBS2-07-04- Contract to Buy and Sell Real Estate (Commercial)
Same as above, but applies to commercial real estate.
CBS3-07-04- Contract to Buy and Sell Real Estate (Vacant Land/Farm and Ranch)
Same as above, but applies to vacant land or farm and/or ranch land.
Addenda to Contracts:
NTC43-05-04- Inspection Notice
If an inspection is conducted after the contract is signed and major problems are found, the buyer may either give the seller notice to terminate the contract or notice to correct problems as specified by the buyer in the Inspection Notice. They seller may comply with they buyer’s request or the seller may refuse, in which case the contract will be terminated.
LP45-05-04- Lead-Based Paint Disclosures (Sales)
Only applies to residential dwellings build prior to 1978. The seller must acknowledge that they are aware of the sellers obligations, as outlined in form LP47-05-04 directly below. The sellers then specify whether or not they have any knowledge of lead-based paint hazards in the home and whether or not they have provided any documentation regarding the presence of lead-based paint hazards. Buyers can elect to have an inspection for lead-based paint hazards or they can waive the opportunity.
LP47-05-04- Lead-Based Paint Obligations of Seller
This details the obligations, as mentioned above, that are required for completion of form LP45-05-04, directly above.
Disclosure Documents:
SPD19-10-05- Seller's Property Disclosure (All Types of Property)
See our Disclosures page for information on this particular form, as well as the guidelines for use directly below.
SPD use- Guidelines For Using the New SPD Form
These are the guidelines for using the form directly above. See our Disclosures page for more info.
SF94-05-04- Square Footage Disclosure
CIC33-10-05- Common Interest Community Documents Receipt and Disclosure to Buyer
A common interest community is the legal term for a homeowners’ association or similar organization, so this form only applies to properties that are subject to one. If this applies, the buyers will sign this statement declaring that they will abide by the rules, covenants, etc. of the common interest community and pay all required dues.
Counterproposal:
CP40-05-04- Counterproposal
This is the form buyers use if they wish to submit a counterproposal to a proposed contract. There are two sections:
- Table of dates and deadlines of various events that occur when purchasing a home that may be negotiated. The form states that the dates and deadlines table can be deleted if inapplicable.
- Counterproposal purchase price offer, specifying the amount of earnest money to be paid as well.
Agreement to Amend/Extend Contract:
AE41-05-04- Agreement to Amend/Extend Contract
Similar to the Counterproposal document directly above. Allows buyers and sellers to amend or extend their original contract. They can agree to change any dates or deadlines specified in the original. Also has a section for any additional amendments that the buyer and seller may wish to add.
Closings:
CL8-05-04- Closing Instructions and Earnest Money Receipt
SS60-05-04- Statement of Settlement
SS61-05-04- Work for Real Estate Settlement
TD-1000- Real Property Transfer Declaration
From the document: “Purpose: The Real Property Transfer Declaration provides essential information to the county assessor to help ensure fair and uniform assessments for all property for property tax purposes.” Contains 18 items to be filled out regarding the basic details of the sale, or “transfer” such as the sale price, the type of financing used and the approximate condition of the structure itself.
Deeds of Trust:
TD 72-05-04- Deed of Trust (Due on Transfer-Strict)
TD 73-05-04- Deed of Trust (Due on Transfer-Creditworthy Restriction)
TD 74-05-04- Deed of Trust (Assumable- Not Due on Sale)
Promissory Notes:
EMP80-05-04- Earnest Money Promissory Note
NTD82-05-04- Promissory Note for Deed of Trust (UCCC-No Default Rate)
NTD81-05-04- Promissory Note for Deed of Trust
Other Forms:
EMR83-05-04- Earnest Money Release
34S- Colorado Statutory Power of Attorney for Property
HUD-1 Form
This is not link to the State of Colorado website, but rather to the American Land Title Association website. Also, it is helpful to read their instructions for HUD-1 form use, the The HUD-1 Form Explained. They also have the how-to in audio format if you would like to listen to the instructions being read aloud.
