Colorado Contracts & Forms Review (2hr) #109783-ADDITIONAL PROVISIONS

ADDITIONAL PROVISIONS - END OF CONTRACT

Pdf Summary

Sections 29-End of the CBS1 document includes additional provisions and attachments related to the contract to buy and sell real estate. These provisions have not been approved by the Colorado Real Estate Commission. Section 29 provides space to list additional provisions that are not included in the standard contract. Section 30 states that certain documents, such as the Post-Closing Occupancy Agreement, are part of the contract if they have been checked in Section 17.<br /><br />The document also includes two parts related to the acknowledgments and compensation disclosure for the brokers involved in the transaction. Part A is for the broker working with the buyer and Part B is for the broker working with the seller. The broker should acknowledge receipt of the earnest money deposit and agree to release it as directed by the written mutual instructions. The broker should also indicate their role in the transaction, whether they are a buyer's agent, transaction-broker, or have no brokerage relationship with the buyer. The compensation or commission for the broker will be paid by the listing brokerage firm, the buyer, or someone else specified in the document.<br /><br />Similarly, for the broker working with the seller, they should acknowledge receipt of the earnest money deposit and agree to release it as directed. They should also indicate their role as a seller's agent, transaction-broker, or have no brokerage relationship with the seller. The compensation or commission for the broker will be paid by the seller, the buyer, or someone else specified.<br /><br />It should be noted that this acknowledgments and compensation disclosure section is for disclosure purposes only and does not create a claim for compensation. Any compensation agreement between the brokerage firms must be entered into separately.<br /><br />Overall, these sections of the document provide additional provisions and attachments, as well as the acknowledgments and compensation disclosure for brokers involved in the real estate transaction.

Keywords

CBS1 document

additional provisions

attachments

real estate contract

Colorado Real Estate Commission

acknowledgments

compensation disclosure

brokers

earnest money deposit

transaction-broker