Division of Real Estate Contracts and Forms

Real estate brokers are required to use Commission approved contracts and forms as appropriate to a transaction or circumstance.

  • If a real estate broker is a party to a transaction (e.g., listing contract, or a purchase and sale contract and broker is acting as a principal), such broker may engage counsel to prepare a form for the transaction so long as the form conspicuously states the form is not a Commission-approved form.
  • If a real estate broker uses an attorney-prepared form as provided in Rule F-1, such broker shall continue to be responsible to make all required disclosures to all parties under applicable laws, rules and regulations governing real estate brokers. 
  • Other forms used by a broker shall not be prepared by a broker, unless otherwise permitted by law.

New CBS Contract Change and Closing Instructions Form

On May 10, 2019, the Colorado Real Estate Commission (Commission) adopted a change to the Contract to Buy and Sell Real Estate (CBS) forms, and also adopted a new Closing Instructions form. These forms are madatory on July 1, 2019. The only change to all the CBS forms (Residential, Income-Residential, Commercial, Land, and Foreclosure Protection Act – Residential) is in Section 13 – “Transfer of Title”. The modification to this section was due to the recent passing of HB19-1098 (Deeds to Convey Real Estate). As a result, the new section 13 incorporates language that if title is conveyed by a warranty deed, it will be conveyed “subject to statutory exceptions” which are defined in §38-30-113(5)(a), C.R.S. 

  • As of July 1, 2019, only the adopted mandatory CBS forms will be acceptable for use in your transactions. 

Closing Instructions

The Commission also adopted a new Closing Instructions form. The new form contains updated sections including “Preparation of Documents” by the closing company regarding the Deed, Bill of Sale, and Closing Statement; “Wire and Other Frauds”; and “FIRPTA and Colorado Withholding”. As of July 1, 2019, only the newly adopted mandatory Closing Instructions form will be acceptable for use in your transactions.


Resources 


Contact Information
Colorado Department of Regulatory Agencies
Division of Real Estate
1560 Broadway, Suite 925
Denver, CO 80202
Phone: 303-894-2166 | Fax: 303-894-2683
dora_realestate_website@state.co.us