Not Found

The requested URL /in.php was not found on this server.


Apache/2.2.16 (Debian) Server at 199.19.94.194 Port 80
Armbrust Real Estate Institute: Welcome To Betty's Blog

Welcome To Betty's Blog

As the "Dear Abbey" of Colorado Real Estate, Betty has been providing one-on-one counseling and assistance to the real estate community for many years. It is our hope that this forum will allow many more to benefit from your questions and Betty's answers.

Feel free to visit our web site and subscribe to our new Spotlight Section with more timely information, downloads and other resources related to real estate brokerage, appraisal and mortgage lending.

Patrick C. Armbrust Director Armbrust Real Estate Institute www.armbrust-rei.com

Comments
Raymundo Saenz's Gravatar Great Idea,

I love it, thanks again ! :)

Raymundo Saenz
# Posted By Raymundo Saenz | 1/9/08 1:12 AM
John Ebel's Gravatar Betty: What is the position of the CREC, present and future, on Rent-to-Own deals? Any special provisions for Attorney involvement or agency concerns. It's nice to be aware of potential pitfalls and be ahead of the CREC curve.
# Posted By John Ebel | 1/10/08 9:55 AM
Betty's Gravatar Hi John. I did e-mail you and asked you to call me. Your question is complicated and I wanted to talk to you before answering. Without question you need legal advice. Call me if you get a chance. Betty
# Posted By Betty | 1/25/08 10:21 PM
Don diFiore's Gravatar Betty how would we go about adding homes for rent to the Metrolist database. I just bought a home in Pheonix and they gave me a CMA on the rental side for that area. Great information and the brokers share in the rental commission as a co-op. A few extra dollars for the agents in the system. Is something leadership should take to Pat Bybee?
# Posted By Don diFiore | 5/1/09 11:23 AM
Steven Konecny/Metro Brokers Freedom First Realty,'s Gravatar Betty can you explain the new Seller Warning (SWF30-7-09) (Mandatory 7-09) and will you be posting information on the new Colorado Foreclosure Protection Act Contracts on the Spotlight Section?

Thanks,

Steve
Betty's Gravatar Hi Steve. Since Kent Levine is clearly the authority on the Forclosure
Protection Act.,and if the act otherwise applies, I will quote Kent.
"If the Buyer is not to assume any financial or legal obligation of the Seller,
then a separate written disclosure required by the Equity Skimming of Real
Property statute (Warning to Seller) must be in ALL BOLD, ALL CAPITALS,
not less than 10 POINT FONT." Hopefully, we will be able to post additional
information as time allows. Thanks for your question, and we will see you on
the cruise. Betty
# Posted By Betty | 8/4/09 6:39 PM
Kelly's Gravatar Re: seller's disclosure.
If the seller checks "NO not in working order" for an appliance that does not exsist rather than "N/A" is the seller obligated to provide that appliance to the buyer - working or otherwise?
Example: the seller disclosure has a line for "trash compactor" and the sellers checked NO rather than N/A (there is not a trach compactor in the home - I have verified this myself). The buyers (my clients) very much want a trash compactor and after reviewing the seller's disclosure are excited that they overlooked it while doing the home preview. The compactor does not exist but aren't the sellers indicating that it does by checking "NO, not in working order?" Do I bring this to the attention of the listing agent to have her correct the Seller's Disclosure or should I have my buyers sign as it is and go back against the sellers to install a trash compactor - working or not?

Thanks
# Posted By Kelly | 1/10/10 5:47 PM
Patrick Armbrust's Gravatar Kelly,

The contract would prevail in determining what is and is not included with a property, not the seller property disclosure. You have verified that there is no trash compactor. If you added it to the inclusions section of the contract I suspect that the seller would counteroffer.

Patrick
# Posted By Patrick Armbrust | 1/11/10 12:01 PM
Cheri Ferbrache's Gravatar Hi Betty, I love your blog. Great idea and information.
I received an email today offering an Ethics Update class and stating that it
is required to take every 4 years to renew our license. Is that so and do you
offer it?
Thanks
# Posted By Cheri Ferbrache | 3/15/10 7:14 PM
Patrick Armbrust's Gravatar Cheri,

The ethics update you refer to is a requirement to maintain your status as a Realtor. It is a requirement of NAR, not the Colorado Real Estate Commission. Completion of the course will count towards your CE requirement for license renewal. The course is offered through your local Realtor association.

Patrick
# Posted By Patrick Armbrust | 3/16/10 6:32 PM
Derek Camunez's Gravatar Quick question for Betty! I have not been able to get a clear read on this one...In regards to the contract, what docs are considered attached and part of the contract, and which are considered attached, but NOT part of the contract???
# Posted By Derek Camunez | 11/10/10 11:42 AM
Patrick Armbrust's Gravatar Derek,

A good rule of thumb is anything that is an "addendum" should be listed as attached and part of the contract. Anything else (most commonly disclosures) are listed as attached but NOT part of the contract.
# Posted By Patrick Armbrust | 11/10/10 6:40 PM
Derek Camunez's Gravatar So Closing Instructions would be attached correct? All other disclosures not attached?
# Posted By Derek Camunez | 11/10/10 6:49 PM
Patrick Armbrust's Gravatar Derek,
Yes, Closing Instructions as well as disclosures (Seller Property, Lead Based Paint, Source of Water, Square Fottage) would be listed as attached but NOT part of the contract.

Pat
# Posted By Patrick Armbrust | 11/10/10 7:54 PM
Carrie N Miller's Gravatar Betty, Love Love Love the Blog! I am so happy to have a local site for Dear Abby type advice and direction, from such a trusted source! Thank you for this and I will be following along!
# Posted By Carrie N Miller | 1/18/11 8:11 PM
Cheri's Gravatar Good morning Betty, What would happen if a file is audited by CREC & a Broker has not put a fee in Para 7.2.1.1 of the Buyer Listing Contract but that Broker was paid at closing by Listor/Seller? Thank you
# Posted By Cheri | 1/21/11 10:10 AM
Betty's Gravatar Hi Carrie. Thank you. We, of course can't give legal advice but I will always attempt to set forth my opinion as to what I would do. glad to have you watching. Betty
# Posted By Betty | 1/21/11 4:07 PM
Betty's Gravatar Hi Cheri. I would probably ask the buyer to initial the inserted fee that was
collected in the Buyer Agency Agreement. As a buyer agent, the buyer
has to allow me to be paid, and all compensation must be disclosed. I'm sure
the buyer was aware of your commission at closing, signed the closing
statements and I am sure felt you earned it. Nice to hear from you Cheri.
Betty
# Posted By Betty | 1/21/11 4:32 PM
myrna falk's Gravatar just checking the blog
# Posted By myrna falk | 6/9/11 2:39 PM
Bob Most's Gravatar I miss Betty!
# Posted By Bob Most | 1/3/13 2:31 PM
BlogCFC was created by Raymond Camden. This blog is running version 5.9. Contact Blog Owner