When buying commercial property in Colorado with the assistance of a broker, more likely than not the state approved Contract to Buy and Sell Real Estate (Commercial) will be used. This and the subsequent column will cover some of the more important aspects of that contract. If the reader cares to follow along, a copy of the contract noted above (CBS 2-7-04) can be downloaded from the Colorado Real Estate Commission Web site at www.dora.state.co.us/real-estate/contracts/CONTRACTSII.htm. Right at the top of the contract is a bold disclaimer in all caps suggesting the parties to the contract should seek counsel before signing the contract. In any commercial transaction, it goes without saying that all parties should thoroughly understand the contract and its various implications.
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