Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act (Act) generally applies if (1) the 187 Property is residential (2) Seller resides in the Property as Seller’s principal residence (3) Buyer’s purpose in purchase of the 188 Property is not to use the Property as Xxxxx’s personal residence and (4) the Property is in foreclosure or Buyer has notice that any 189 loan secured by the Property is at least thirty days delinquent or in default. If all requirements 1, 2, 3 and 4 are met and the Act 190 otherwise applies, then a contract, between Buyer and Seller for the sale of the Property, that complies with the provisions of the 191 Act is required. If the transaction is a Short Sale transaction and a Short Sale Addendum is part of the Contract between Seller and 192 Buyer, the Act does not apply. It is recommended that Seller consult with an attorney.
Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act (Act) generally applies 499 if: (1) the Property is residential, (2) Seller resides in the Property as Seller’s principal residence, (3) Buyer’s purpose in purchase 500 of the Property is not to use the Property as Buyer’s personal residence, and (4) the Property is in foreclosure or Buyer has notice 501 that any loan secured by the Property is at least thirty days delinquent or in default. If the transaction is a Short Sale transaction 502 and a Short Sale Addendum is part of this Contract, the Act does not apply. Each party is further advised to consult an attorney.
Colorado Foreclosure Protection Act. If the Colorado Foreclosure Protection Act (Act) applies, then a different contract that complies with the provisions of the Act is required, and this Contract shall be void and of no effect. The Act generally requires that (1) the Property is residential, (2) any loan secured by the Property is at least thirty days delinquent or in default, (3) Buyer does not reside in the Property for at least one year and (4) Buyer is subject to the Act. Buyer □ Will □ Will Not occupy the Property as Xxxxx’s personal residence for at least one year. The parties are further advised to consult with their own attorney.
Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act (Act) generally applies if (1) the
Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act (Act) generally applies 556 if: (1) the Property is residential, (2) Seller resides in the Property as Seller’s principal residence, (3) Buyer’s purpose in purchase of 557 the Property is not to use the Property as Buyer’s personal residence and (4) the Property is in foreclosure or Buyer has notice that 558 any loan secured by the Property is at least thirty days delinquent or in default. If the transaction is a Short Sale transaction and a 559 Short Sale Addendum is part of this Contract, the Act does not apply. Each party is further advised to consult an attorney. 560 11.1. Buyer and Seller agree to all of the following five conditions:
561 11.1.1. Buyer will not assume any financial or legal obligations of Seller;
562 11.1.2. There are no rental agreements or leases for the Property between Buyer and Seller;
1.4. A Notice of Cancellation and Seller Warning are attached to this Contract; and
Colorado Foreclosure Protection Act. Seller acknowledges that, to Seller’s current actual knowledge, the Property is not in foreclosure. If the Colorado Foreclosure Protection Act (Act) applies, then a different Contract that complies with the provisions of the Act is required, and this Contract shall be void and of no effect. The Act generally requires that (1) the Property is residential, (2) any loan secured by the Property is at least thirty days delinquent or in default, (3) Purchaser does not reside in the Property for at least one year and (4) Purchaser is subject to the Act. The parties are further advised to consult with their own attorney.
Colorado Foreclosure Protection Act. The Colorado Foreclosure Protection Act (Act) generally requires that (1) the 202 Property is residential, (2) any loan secured by the Property is at least thirty days delinquent or in default, and (3) Buyer does not reside 203 in the Property for at least one year and (4) Buyer is subject to the Act. If all requirements 1, 2, 3 and 4 are met and the Act otherwise 204 applies, then a contract, between Buyer and Seller for the sale of the Property, that complies with the provisions of the Act is required. 205 Therefore, if the Act applies, Xxxxxx agrees that Xxxxxx is not authorized to prepare such a contract for the sale of the Property. It is 206 recommended that an attorney prepare the required documents. 207
