*** Disclaimer - this is my own interpretation of these documents. You as the seller always have the right to an attorney to interpret them for you as well. In the state of Colorado real estate agents are not attorneys but are given the same power as them to draft contracts for clients.

 Seller’s Agency Agreement

• Exclusive right to sell

This document outlines all of the details pertaining to how the listing is going to be represented on the MLS. Describes my fiduciary duties to you as the seller and as your agent. It covers the address of the property, seller’s info, listing period, brokerage duties, agent commissions, where and how the home is going to be advertised, purchase price, loan terms accepted, earnest money amount, how funds will be transferred, fixtures, inclusions, exclusions, how to convey title, if you are willing to fill out a Seller’s Property Disclosure or not, acceptable notice and delivery types, and what happens to earnest money should the buyer default.

• Definition of Working Relationships

  Outlines the different agency relationships, such as buyer’s agent, seller’s agent, or transaction broker. I will typically default to being a seller’s agent, unless I procure a buyer who wants to submit an offer on your home and you decide to accept their offer, in which case we will fill out later what is called a “change of status” form and I will become a TB. As an agent, I’m the coach and can advocate and negotiate on your behalf, as a TB, I’m the referee between both parties and can only facilitate paperwork and disclose information amongst the two parties. The advantage to transaction brokerage is paying one agent instead of two, hence less of a commission cost on your side.
  
  

• mhm Seller’s Disclosure
  
  

  This is a milehimodern specific form that outlines what happens in different seller situations. It discusses earnest money disputes, HOAs, possession deadlines, MLS rules, seller financing, the risks of holding open houses as it pertains to property insurance, tax consequences, remodeling, septic, property valuations, recommendation of professionals, and rules around video and audio recording in the home.
  
  

• WIRE Fraud transfer Agreement

  This document outlines details about fund transfers. Should you decide to receive your funds via wire transfer, you must verify wire transfer details with the title company ONLY, not your agent or the lender. It is best to call the title company and verify details over the phone or over their secure messaging systems instead of via email. People have lots hundreds of thousands of dollars in our state due to wire fraud transfer con artists getting in the middle of transactions, hence the reason for this form.
  
  

• Seller’s COVID-19 Advisory

  This is a Colorado Association of Realtor’s form outlining the risks and responsibilities of listing. a home in the middle of a pandemic.
  
  

Disclosures

• Seller’s Property Disclosure

  This document isn’t due to the buyer until 2 days after being under contract (typically) so we can hold off on filling this out until then OR you can fill it out and sign in advance. This form is designed for the seller to outline and disclose anything they know about the property conditions and what happened during their ownership. It’s your legal obligation to disclose what you know if you fill one of these out, but if you don’t know something, don’t disclose it and feel free to leave it blank.
  

• Square Footage Disclosure

This outlines how we measured square footage of the property before listing. Typically this number is pulled from a program we use called Realist which lists property tax record information. However, if we were unsure of square footage being accurate, we could have an appraiser come out and measure the square footage of the home and in that case we would list it as “appraiser measured”.

• Source of Water Addendum

This outlines the source of water for the property. This is an important document because water is scarce in our state. Typically if you live in a more urban area there is a public water district that your home feeds into, but if you are off grid (in the mountains for example) or on a property with acreage and have a well, and we will need the well permit number.

• Lead Based Paint Disclosure

If your home was built before January 1, 1979, it’s likely that there is lead based paint present SOMEWHERE within your home. This is a federally mandated disclosure letting the buyer know that there may be a risk of lead based paint in the home. If your home was built after 1979, this form is not necessary.

• Lead Based Paint Obligations of the Seller

This form states that if you know where lead based paint is present in the home, or if you ever had it tested for, that you will disclose this information to the buyer. It also gives the buyer power to terminate based on discovering lead based paint in the home.

• Closing Instructions

This outlines the title commitment, closing services fee, and how seller will receive net proceeds. It also identifies the title company and the closer.