Division Notifications

Real Estate Broker Safety

Now that the summer home-buying season is underway, real estate brokers should take heed of safety measures for themselves, as well as for their clients. In addition to any COVID-19 health department protocols that may exist in any particular county, there are other measures that can help ensure one’s safety.

Connect With Your Membership

There are many ways to operate and govern a homeowners association. Some boards prefer to use a community association manager as an agent to interact with the membership and deal with day-to-day operations. Other boards may choose to be more hands on and active with governance and communication with their membership. While both approaches hold value, regardless of management style, one thing should always be at the top of your mind - homeowners associations are communities and the people who live there are your neighbors.

What is an Appraisal Gap on a Home Purchase?

An appraisal gap is the difference that occurs when a buyer's offer is higher than the actual appraised value of the property (which is usually the amount the bank will loan for the home) that they are contracting to purchase. It is an issue that is currently being experienced in the hot and highly competitive Colorado real estate market and experienced by buyers where there are many more prospective purchasers than inventory that is available for sale, and where bidding wars and other aggressive purchase offer tactics are being used.

Know Your Docs! A Quick Guide to Governing Documents

In Colorado, the law treats your relationship with your homeowners association as a contractual relationship. The terms of that contract are your governing documents, supplemented by certain statutes, such as the Colorado Common Interest Ownership Act (“CCIOA”) and the Colorado Revised Nonprofit Corporation Act (“CRNA”). Accordingly, it is important for members of an association to thoroughly understand each of these documents and get professional advice on anything they do not understand.