Division Notifications

�־��ȫվ Fall 2021 Real Estate News

�־��ȫվ Division of Real Estate is excited to release the Fall 2021 Real Estate News online quarterly newsletter. This online publication provides the public access to the Division’s meetings and event calendar, program disciplinary actions, updates on important matters, and timely articles written by Division staff and outside contributors in the real estate industry.

Adopted Changes to Colorado Real Estate Commission Rules & Subdivision Rules (Effective November 30, 2021)

Real Estate Broker Rulemaking Update

On October 5, 2021, the Colorado Real Estate Commission held a permanent rulemaking hearing and adopted some changes to the Rules Governing Real Estate Brokers, to be effective on November 30, 2021.

Highlights of the adopted changes include:

Refusing to Present Offers to Sellers

�־��ȫվ Division continues to receive complaints by prospective buyers and their buyer’s brokers that some listing brokers are not presenting buyer’s offers to the seller. An additional complaint is that those listing brokers are refusing to present offers to their sellers unless a particular contract software is being used.

Allocation of Insurance Deductibles

In our recent article titled “Water Damage: Who’s Responsible?��, we discuss the issues involved in determining responsibility when water damage occurs in a unit within a homeowners association. Another consideration when dealing with water damage in an HOA is who is responsible for the insurance deductible. Generally, if damage to an insured property is less than the amount of the insurance deductible, then the insured would likely not file a claim, as there would be no insurance payout. However, for many associations, the cost of water damage frequently exceeds the amount of the insured’s deductible. When that occurs, the parties involved need to know who will be responsible for paying the deductible.

HB21-1310: HOA Regulation of Flags and Signs

If you’ve been following this year’s legislative session, you’ve undoubtedly heard of HB21-1310. Its stated purpose is to provide additional protections for homeowner’s freedom of expression in an HOA under the Colorado Common Interest Ownership Act (“CCIOA��).

Water Damage: Who’s Responsible?

Determining responsibility for water damage that occurs in a unit within a homeowners association is not always a simple process. �־��ȫվre are several considerations to be had and whether or not a party was negligent or irresponsible isn’t always the first question to ask.

Title Insurance - What is it and Why is it Used?

Buying a home for the first time can be a very time-consuming and complicated process. You will be dealing with many contractual and legal matters while coming across some terms and requirements that you might not be familiar with - such as title insurance. So what is title insurance, why do you need it, and who pays for it?

Real Estate Fraud Issues

Real estate fraud and scams are on the rise and consumers need to recognize them before becoming a victim.

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.

Association Committees and How You Can Make Yours More Efficient and Effective

�־��ȫվ effort and resources it takes to effectively govern a homeowners association requires collaboration and cooperation from more than one person. As such, the use of committees in community associations can be a very useful tool for accomplishing the goals of the association. However, in order to be most effective, committees should be well formed with specific purposes and guidelines for their operation.

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