The Department of Regulatory Agencies’ Division of Real Estate has amended a rule regarding the mandatory use of standard and approved forms. The revised rule, entitled F-7 Commission Approved Forms, eliminates two approved listed forms, amends one form, and adds four new forms to be used in relevant transactions.
The amended rule will be applicable to all real estate brokers.
- Eliminated Forms
- Addenda to Contracts: Short Sale Addendum
- Optional Forms (Not Mandatory): Estoppel Statement
- Amended Forms
- Notice Documents: Inspection Notice (now Inspection Objection)
- New Forms
- Addenda to Contracts: Short Sale Addendum to Contract to Buy and Sell Real Estate
- Addenda to Contracts: Short Sale Addendum to Listing Contract
- Disclosure Documents: Estoppel Statement
- Closings: Post Closing Occupancy Agreement
The complete text of the amended rule can be found here.
A hearing on the amended rule will be held on Tuesday, August 2, 2011, at the Colorado Division of Real Estate, 1560 Broadway, Suite 1250-C, Denver, Colorado 80202, beginning at 9:00 am.
Any interested person may participate in the rulemaking process by submitting written data, views, and arguments to the Division of Real Estate. Those interested are asked to submit their materials in writing on or before the close of business on July 5, 2011. However, all materials submitted prior to or at the rulemaking hearing or prior to the closure of the rulemaking record will be considered.
Further information about rule and hearing can be found here.