Colorado Real Estate Solutions to Corona Virus

by | Mar 17, 2020

*Disclaimer – THIS IS NOT LEGAL ADVICE. I am not an attorney. I am not writing about any specific contract or situation. For real estate questions, contact your Realtor® or real estate agent. If you don’t have a Realtor® or real estate agent, please feel free to contact me. 

Corona Virus and Colorado Real Estate

The Corona Virus has impacted just about every aspect of life at this point. We are in the midst of it. So much has been shut down.

So what if you are in the middle of a Colorado real estate transaction and one of the vendors that we use to do the deal; like title companies, lenders, or insurance companies; or even government offices; like the county clerk cannot accomplish the work needed because their offices are closed, or otherwise interrupted because of the Corona Virus?

Or, what if the buyer or seller is quarantined because they had contact with someone that tested positive.

It’s a sad fact that we may have to face. Fortunately, RE/MAX Alliance is being proactive in our response to these possibile eventualities.

Legal Clauses to the Rescue

In a real estate transaction, whatever the buyers and sellers agree to in writing that is also legal in the state of Colorado and the U.S. is enforceable. Real estate contracts are there to set parameters of what happens through the transaction.

So, in order to deal with the Corona Virus, RE/MAX Alliance has sent all of its Realtor® members clauses that can help with a few possible eventualitieis that may arise from the issue.

Mutual, Written Agreement

Contracts define mutual agreement between the parties of the contract. That agreement can be just about anything. Want to buy a home that is for sale, close on it in 17 days and have the seller leave the hot tub on the property for you? Great. Write it up. If everyone signs it, that’s the deal.

Then, perhaps you look closer and find that the hot tub has a hole in it. Now you want the seller to get it out of there. Fine. Write it up. If everyone signs it, that’s the new deal. 

Mutual, written agreement is a great way to work out a deal because as long as everyone agrees and signs their names to it, we have a solid basis in that contract from which to operate. If something comes up or changes, we can be nimble during a transaction and deal with unexpected things that arise by getting mutual, written agreement. 

That’s what RE/MAX Alliance Realtors® can do with the Corona Virus. We may not have the anwer to everything. But, we are ready to use the power of mutual, written agreement to keep deals on track. 

Corona Virus Shutdown Extenstion

If a government entity or settlement service provider shuts down due to the Corona Virus, an extension of the dates in the contract may be warranted and executed. 

Corona Virus Quarantine Extension

If a seller or buyer must be quarantined for any reason related to the Corona Virus, an extension of the dates in the contract may be warranted and executed.

This is Why I Love Being a RE/MAX Alliance Realtor®

The resources that I receive, and that you, in turn, receive when you work with me as your Realtor® are the things that make me so thankful to work with RE/MAX Alliance. They had this language drafted because they saw that we may be facing this situation. Their proactive actions and ability to direct resources toward pressing problems is what makes RE/MAX Alliance a great brokerage. Now more than ever, I believe that professional, licensed representation in real estate transactions is key, and I encourage you to consider me for the job of your Realtor®.

Thank you 🙂

*Disclaimer – THIS IS NOT LEGAL ADVICE. I am not an attorney. I am not writing about any specific contract or situation. For real estate questions, contact your Realtor® or real estate agent. If you don’t have a Realtor® or real estate agent, please feel free to contact me. 

Realtor® Paul Wozniak

Realtor® Paul Wozniak

Realtor® | Associate Broker | RE/MAX Alliance Fort Collins

Realtor® Paul Wozniak serves in Colorado, helping people buy and sell residential real estate, land and commercial property.

Paul specializes in communication and helping his clients make sound decisions with regards to real estate.

Contact Paul

(970) 231- 8217 | paul@paulwozniak.com