Real Estate Fraud Attorneys in Colorado
Relentlessly Pursuing Justice for Fraud Victims
The ancient tradition of caveat emptor — meaning “let the buyer beware” — has been weakened in Colorado in recent years, especially when considering real estate transactions and residential home purchases. While there are penalties for intentional misrepresentation during a real estate transaction, there are still many fraudsters and dishonest real estate brokers who try to use the loosened legislation to sidestep those rules and make a profit at the expense of others.
If you have been a victim of real estate fraud, seek the immediate assistance of Jorgensen, Brownell & Pepin, P.C. and our Colorado real estate fraud lawyers. We are a law firm that truly believes in the importance of upholding justice and protecting the members of our communities. When it comes to pursuing fair compensation and closure for our clients, we are relentless and determined.
Helping You Understand Real Estate Transaction Forms
The Colorado Real Estate Commission (CREC) has created and approved a standardized residential real estate transaction contract form. There are provisions in the form meant to help protect the purchaser from structural defects that are known to the seller at the time of the sales contract. Section 10 of the contract to buy and sell residential real estate requires the seller to fill out a seller's property disclosure, which itemizes every known defect in five legal-length single-spaced pages.
A few examples of construction defects that should be disclosed to the buyer include:
Structural integrity issues
The masonry, carpentry, and concrete foundations that hold a home together are obviously crucial. If there are any problems with these structural components, then the buyer needs to know about it. Structural integrity defects need to be repaired as soon as possible. They can also drive the price of a piece of real estate way down.
Expansive or weak soil
Another structural integrity issue can arise if the soil beneath a home is weak or expansive. Shifting soil can cause the entire property to be weakened and jeopardized. Just like issues with carpentry, masonry, and so forth, weak soil must be disclosed.
Electrical issues
Small and severe electrical issues need to also be disclosed because they can eventually create major problems and hazards for the homeowners. Repairing electrical hazards can be expensive, so the price of the home can drop once these issues are disclosed as well.
Water intrusion
Ideally, your home will be essentially weatherproof, capable of standing up to rain, snow, and so forth. If there is any gap in the home’s exterior, water can leak in, causing water damage and mold growth. As a homeowner, you have the right to know about water intrusion issues.
Finishing defects
The finishing around your home – think interior and exterior paints, wood varnishes, etc. – should all be in acceptable condition when you purchase it. If any finishing components have a defect, then you should be told about them.
Even though someone selling a piece of real estate is supposed to tell you about all defects using the standardized CREC form, they might not. Our attorneys are here to help you fully understand all real estate transaction forms and what should be included on them, so you never have to worry about the underhanded tactics of another party. You can confidently make a purchase or transfer knowing we are in your corner.
In the event that you have already been defrauded, we can help you pursue justice and compensation. We are willing to go to court and fight for a fair verdict if that is what it takes to deliver you the best outcome for your case.
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