QUESTION

Is it Legal for an Owner to sell his own home himself in the state of Colorado?

Asked on May 30th, 2016 on Real Estate - Colorado
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Litigation Attorney serving Castle Rock, CO
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Absolutely - You may find an attorney to help you with the legal aspects for a small flat fee.  Call me if you need help with this.  
Answered on May 31st, 2016 at 11:58 AM

Call Don at (303) 688-0944 or email at Reception@RobinsonandHenry.com This information is provided AS IS; and does not create Client Relationship.

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Construction Law Attorney serving Greenwood Village, CO at Cyrus Rajabi, Attorney at Law
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As a general matter, an owner of real property can sell a residential property without the need for third party assistance or involvement (in other words, there is generally no requirement to have a lawyer, real estate broker or other third party involved).   That being said, there may be specific contractual or other requirements or situations that may change this general rule, not to mention that there are often benefits to having lawyers, brokers and other parties involved in the sale.  Real estate brokers can help you ensure you're receiving a market price for your property and lawyers can help to ensure you're properly documenting the transaction and not transferring rights that you don't intend to transfer (for example, you may wish to retain mineral rights, but sell the home). As for examples of situations where the general rule may not apply, if there is litigation involving the property or a bankruptcy, the sale may require approval of the court or a receiver and may also require involvement of a third party to verify that the sale is "arm's length" or otherwise on fair terms.   Furthermore, if an owner has diminished capacity or otherwise has a custodian or other caretaker involved, the owner may not be able to sell the property without the approval of the custodian or other caretaker (for example, a trustee, guardian, etc.). In short, it is best to have a professional review the facts and circumstances surrounding the proposed sale, including the real property record, and confirm that there is no requirement to have any other party involved in the sale. Hope the information above is helpful.
Answered on May 31st, 2016 at 11:39 AM

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