Contracts and Closings
Commission-approved forms
Colorado licensees must use Commission-approved forms when they exist - the Contract to Buy and Sell Real Estate (CBS1), listing agreements, disclosures, and addenda. The contract must be in writing (statute of frauds), identify parties and property, state price and terms, be signed by the parties, and carry the deadlines that drive the file: earnest money, title objection, loan and appraisal, survey, inspection, and closing.
Dates and money
Deadlines run in calendar days; when a deadline falls on a Saturday, Sunday, or legal holiday it rolls to the next business day. Earnest money is held in escrow by a licensed broker, title company, or attorney and deposited promptly under the contract and Commission rule. Title commitment objections and resolution deadlines are strict - a missed objection deadline waives the objection.
Settlement
Colorado closes with a deed (often a bargain and sale deed) recorded with the county, a TD-1000 Real Property Transfer Declaration, and a documentary fee of one cent per $100 of consideration. Deeds of trust are released, and taxes (paid in arrears) and rents are prorated on the settlement statement.
Traps: treating an unsigned counterproposal as accepted; sending an inspection objection after the deadline; assuming the documentary fee is a sales tax or is split between parties.
Worked example: a $450,000 sale price × $0.01 per $100 = $45 documentary fee, collected at closing and remitted to the county.