CFPA Worksheet

Is the buyer an investor?  The buyer will NOT be occupying the property as a principal residence.

Yes, go to Number 2.  

No, STOP!  Use the standard Contract to Buy and Sell Real Estate.  

Is this a short sale?  

Yes, STOP! Use the standard Contract to Buy and Sell Real Estate with the Short Sale Addendum attached.  You are done.  Skip Steps 3-10.   

No, Go to Number 3.  

Is the property residential?  

Yes, go to Number 4.  

No, STOP!  Use the standard Contract to Buy and Sell Real Estate.   

Is the property being sold by a homeowner living in the property?  

Yes, go to Number 5.   

No, STOP! Use the standard Contract to Buy and Sell Real Estate.   

Does the Buyer have ACTUAL or CONSTRUCTIVE knowledge that the homeowner is delinquent or in default on the homeowner's loan or loans for at least 30 days.  

Yes, Go to Number 6.   

No. STOP! Use the standard Contract to Buy and Sell Real Estate.    

Does the seller have a right to lease the property as a tenant after closing? 

Yes, go to Number 10.  

No, go to Number 7.   

Does the seller have a right to repurchase the property?  

Yes, go to Number 10.   

No, go to Number 8.    

Will the buyer assume all or a portion of the seller's loan? 

Yes, go to Number 10.   

No, go to Number 9.   

You may use the Colorado Foreclosure Protection Act Contract to Buy and Sell Real Estate.  Be sure to attach the Seller Warning-Equity Skimming and Notice of Cancellation.  

Is the seller's principal language English? 

Yes, no further forms required. 

No, you mist also include form Homeowner Warning Notice-Right to Cancel translated into the seller's principal language.  

You may NOT use the Colorado Foreclosure Protection Act Contract to Buy and Sell Real Estate.  An attorney must prepare the contract.