Put a Lien On It

Filed Under (Foreclosure, Mechanics Liens, Real Estate) on 16-09-2014

At Bradford Publishing, customers often ask us for lien documents for a variety of reasons. There seems to be a common belief that if someone is owed money but is not being paid, that just putting a lien on the debtor’s property will solve the problem…..and it’s true…..but there is a process. Here are three of the most common reasons to file a lien on property and how to do it.

1.    You’re lending someone money. If you are kind enough to lend someone money it is important to protect yourself. Use a Deed of Trust to secure the loan. This document will put a lien on the real property of the borrower. If something should go wrong and you don’t get paid back, you can start the foreclosure process on the property. If the borrower tries to sell the property there will be a cloud on the title and they will be forced to pay the debt.

2.    Construction Lien. You did work on someone’s real property and didn’t get paid for it. If this has happened you can file a Mechanic’s Lien. This type of lien will cloud the title and prevent the owners from selling until they pay the debt.

3.    If someone owes you money. If you lent someone money and did not file a deed of trust to secure the loan, you will need to file a suit in order to place a lien on the borrower’s real property. If the total amount due is under $7,500, you can use the Small Claims Court. If the total amount is between $7,500 and $15,000 you can file the suit in County Court. If it’s over $15,000 you will have to go to District Court. Wherever you decide to file, you can file a Notice of Lis Pendens  with the Complaint form. This will put a temporary cloud on the title of the borrower’s real property until the judgment is issued. Once you have judgment, the transcript can be filed and a permanent lien will be placed on the property.

This is just a brief explanation of your lien options. If you are in one of these situations, it is wise to consult with an attorney. Please check out our local attorney directory to find a trusted Colorado Lawyer.

How to Pay for Your New Home in Colorado

Filed Under (Real Estate) on 08-05-2014

The real estate market in Colorado is hot right now. Supply is low and houses are selling fast. If you’ve decided that this summer is the time for you to buy, then be armed with the proper knowledge and find a lender that’s right for you.  Here are four tips in choosing a good lender:

1.    A good lender acts like your partner, helping you get the type of loan and terms that best fit your needs. The lender will need to know your financial situation—your income, assets, current debts, and credit history—to be able to tell you what kind of loan he or she can offer you. A good lender will explain all of your options, show you how the payments would differ under various scenarios, and help you decide which loan makes the most sense. Deciding on the loan type will depend on factors such as your budget, how long you expect to stay in the property, and what you anticipate your future income to be. Continue reading “How to Pay for Your New Home in Colorado” »

Understanding the 2014 Colorado Real Estate Contracts

Filed Under (Bradford Publishing News & Updates, Real Estate) on 20-02-2014

We’re excited to announce the recent release of the new electronic book, “Levine’s Bible for 2014 Colorado Real Estate Contracts”! This book is a comprehensive reference book and study guide. Every line item in the Residential Sales Contract is discussed in detail; with historical notes, legal and statutory reference, and comparisons to the other sales contracts to help users fully understand how to complete the form in an actual transaction. The book contains relevant Colorado statutory provisions, rules of the Colorado Real Estate Commission and important court cases affecting and interpreting the CREC Contract.

The author, Kent Levine, wrote this book for professionals who need a clear understanding of the content and background of the Commission’s Contract. Real estate course instructors will have an in-depth guide to the contract all in one place. Real estate brokers will have an easy to use, ready reference when answers are needed in the office, or in the field. Students will find it easy to follow by using the colored legend to distinguish different sources of commentary, and attorneys will benefit from the statutory and regulation references throughout the document that provide sources for further investigation.
Key Features:

1.    Current! This book was released as the 2014 Contract became effective.

2.    Arranged in order of the individual sections of the contract.

3.    Unique color-coded legend on each page.

4.    Useful links to other contracts for reference.

5.    In depth discussion of the implementation of the Dodd-Frank Act.

6.    Pointers for brokers.

7.    Red-flags, tips and warnings.

To become fluent with the Colorado Real Estate Commission forms, check out “Levine’s Bible for 2014 Colorado Real Estate Contracts” by Kent Levine.

Bradford Publishing Launches Colorado-Only Attorney Directory

Filed Under (Bradford Publishing News & Updates, Business, Child Support, Custody and Visitation, Colorado Deeds, Divorce and Legal Separation, Domestic Partnership, Employment Law, Eviction, Leases and Landlord Tenant, Mechanics Liens, Medical Marijuana, Probate, Real Estate, Wills and Estates) on 08-11-2013

We’re excited to announce our new Colorado Attorney Directory! On November 1st we launched an online directory to link Colorado consumers with Colorado attorneys. Bradford has offered information, products and services for Colorado attorneys, businesses and consumers for more than 100 years.  With changing technology, most of our products and services have moved online to our website.  Now, more than 12,000 people visit our website each month in search of legal resources.

Bradford provides lots of self-help solutions for you to complete a legal procedure on your own, but sometimes it’s not enough and contacting a legal expert is necessary. Now we can connect you to attorneys practicing in your local Colorado community. Deciding whether to hire an attorney is a big decision.  The bottom line is knowing if you’re capable and willing to take on a particular legal task yourself. Sometimes you don’t realize immediately that the task is beyond your capabilities.

The new Colorado-only Attorney Directory can help you find the right attorney. Laws vary by state so it’s important to follow Colorado law. We make sure the attorneys listed are lawyers in good standing with the Colorado Supreme Court. They also have completed profiles on the site, so their expertise and experience is clear and allows you to know as much as possible about the lawyer’s practice before picking up the phone. Our goal is to provide easy access to Colorado attorneys who can help you find legal solutions.

Check out our new Colorado Attorney Directory and let us know what you think!


Buying Foreclosure Properties in Colorado

Filed Under (Foreclosure, Real Estate) on 24-10-2013

A borrower signs a deed of trust when a loan is made to buy a house, and the deed of trust gives the lender a security interest in the property being purchased with the loan funds. If the borrower fails to make payments or otherwise fails to perform the obligations under the promissory note, the deed of trust spells out how the lender may proceed with foreclosure on the property.  A lender uses the foreclosure process to enforce its rights in the property that was given by the borrower to obtain a home purchase loan.

The foreclosure process  requires the Public Trustee of the county where the property is located to advertise and conduct a public auction for the sale of the property. There are three distinct time frames when you might be able to buy property that is involved in a foreclosure, and the requirements and processes differ at each stage.

1.    Before the Foreclosure Sale Continue reading “Buying Foreclosure Properties in Colorado” »

Buying a Colorado Mountain Home

Filed Under (Real Estate) on 22-08-2013

There are some great communities in the mountains but if you are dreaming of buying a mountain retreat, you will want to consider the possible inconveniences and added expenses. Below are some important factors to think about before you buy.

•    Water and Sewer
In many mountain areas in Colorado there is no public water or sewer service. As a result, occupants must have a well and septic tank or find other creative ways to make their property habitable.  A well has a limited life, and creating a new well is difficult and expensive.  Septic systems add expense and require periodic maintenance. Continue reading “Buying a Colorado Mountain Home” »

Choosing a Real Estate Broker to Help You Buy a House in Colorado

Filed Under (Real Estate) on 13-06-2013

Are you thinking about buying a new home this summer? Choosing a real estate broker who is right for you is the first step on the road to a successful purchase. You are hiring someone to help you with an expensive and very personal purchase, so it is especially important that you find someone you trust and with whom you feel comfortable. It is not unusual for buyers to spend several hours in a day with their brokers, so it is reasonable to look for someone who is not only competent, but also whose company you will enjoy.

Here are some interview questions to help you compare possible brokers:

1.    What is your experience in the real estate business?

You should learn how many years of experience the broker has in Colorado: how long the broker has been with his or her current company; how many properties the broker sells in a year; the average sales price the properties: which neighborhoods the broker works in; and the types of property the broker works with most often, e.g., condos, single-family, or multi-family.

2.    What kind of clients do you have? Continue reading “Choosing a Real Estate Broker to Help You Buy a House in Colorado” »

Should I Hire an Attorney for My Legal Issue?

Filed Under (Business, Colorado Deeds, Divorce and Legal Separation, Eviction, Leases and Landlord Tenant, Mechanics Liens, Power of Attorney, Probate, Real Estate, Small Claims, Starting a Business, Wills and Estates) on 23-05-2013

The decision to hire an attorney depends upon assessing the situation — and then being honest with yourself about your ability to handle the matter on your own.

First, always consult an attorney for:

•    Criminal charges
•    If you are sued
•    Bankruptcy
•    Employment issues (whether you are a business or an employee)
•    Personal injuries
•    Entering a franchise agreement
•    Selling a business, or bringing new owners into a business.

Individuals may effectively handle family law matters, business transactions, estate planning, and tax issues. However, one has to consider the costs of time and expertise when deciding to act without an attorney.

Advantages of handling a legal issue yourself:
•    There are Court-approved forms and books to help you.
•    You can move quickly, not waiting for an attorney to get to your matter.
•    You save money by not hiring an attorney.

Disadvantages of handling a legal issue yourself: Continue reading “Should I Hire an Attorney for My Legal Issue?” »

Colorado Legislative Update

Filed Under (Bradford Publishing News & Updates, Child Support, Custody and Visitation, Divorce and Legal Separation, Real Estate) on 09-05-2013

It’s over! The 2013 Colorado Legislative Session ended May 8th. Here are a few of the bills we’ve been tracking . . .

1.    Civil Unions are now legal in Colorado. Watch for changes to the family law, probate and other forms.

2.    Probate

•    SB13-077 , the Probate Omnibus Bill, sponsored by the Colorado Bar Association’s Legislative Committee, updates and clarifies provisions of the Colorado Probate Code.

3.    Family Law

•    HB13-1058  creates a process, including guidelines as to the amount and term, for determining spousal maintenance in proceedings for divorce, legal separation or declaration of invalidity filed on or after January 1, 2014.

•    HB13-1204  enacts the “Uniform Premarital and Marital Agreements Act” (Act). The bill describes the formation of premarital and marital agreements, when such agreements are effective, provisions that are unenforceable in premarital or marital agreements, and when an agreement is enforceable. Applies to agreements signed on or after July 1, 2014.

•    HB13-1209  makes several changes to portions of the Uniform Dissolution of Marriage Act relating to child support obligations and how it is calculated, effective January 1, 2014.

4.    HOA bills:

•    SB13-126 prohibits a landlord or the unit owners’ association of a common interest community from preventing a tenant or unit owner from installing an electric vehicle charging system on property owned or exclusively controlled by the tenant or unit owner, at the tenant’s or unit owner’s expense.

It also allows grants to be made from the electric vehicle grant fund to landlords of multi-family apartment buildings and the unit owners’ associations of common interest communities to install recharging stations for electric vehicles.

•    In addition to amending the annual registration provisions, HB13-1134 empowers the HOA Information and Resource Center that was created in 2010 to compile a database of registered unit owners’ associations, assist in preparation of educational and reference materials, and to provide information on the Division of Real Estate’s website.

•   HB13-1276  requires the unit owners’ association of a common interest community (HOA) or a holder or assignee of the HOA’s debt to adopt, and comply with, a policy regarding the collection of delinquent assessments and other past-due amounts from unit owners. The unit owner must be offered a one-time opportunity to enter into a 6-month payment plan. The HOA or a holder or assignee of the HOA’s lien is prohibited from foreclosing its lien for past-due assessments unless the total amount is at least equal to 6 months of regular assessments. Section 3 of the bill specifies the terms and conditions of the repayment plan that must be offered.

•    HB13-1277  requires any person who manages the affairs of a common interest community on behalf of an HOA for compensation, on or after July 1, 2015, to meet minimum qualifications and obtain a license from the director of the division of real estate in the department of regulatory agencies. Licensees are identified as “community association managers”.

How to Avoid the Money Pit

Filed Under (Real Estate) on 30-10-2012

You have found the house you like. It’s in a nice neighborhood and has all the features that meet your needs.

Now you need to look at what kinds of potential issues the house may have and what questions to ask, so you know what you’re getting yourself into.  Before you hire an inspector (at $350 a visit), you can make a preliminary visual inspection of the home’s structure and wiring.

First, start in the basement.  The basement, if there is one, should give you a sense of how well the home was built. Look for the following: Continue reading “How to Avoid the Money Pit” »