What provisions in the Contract To Buy And Sell Real Estate do I need for Colorado hard money loans?
Financing provisions are a common area of confusion. We do not provide legal advice. You should speak with your real estate agent and your own attorney at your own expense. Often we see something in Section 4.5.3 of the commission approved Contract To Buy And Sell Real Estate where “Other” is checked and the blank is filled in along the lines of: “cash, private money loan, or other financing as selected at the discretion of the Buyer”. However, that may not be correct, sufficient, adequate, or appropriate.
This post likely to become out of date as forms Colorado Real Estate Commission are changed. As of May 2017, Colorado Real Estate Commission approved forms can be found on the Colorado Division of Real Estate contracts and forms webpage.