Licensee Buy-Out Addendum Reinstated

At the February 4th, 2019 meeting of the Colorado Real Estate Commission, the commissioners voted to approve a new draft of the Licensee Buy-Out Addendum and reinstate the form as approved beginning February 5th, 2019.

This means that the new form is eligible for use immediately.  After eliminating the form for use as of January 1st, 2019, the Commission received a redline proposal of an updated version.  The new version makes minor changes to the old form.  During their discussion on the proposed form commissioners expressed desires to see additional changes, such as a signature line for employing brokers, which were not included in the final approved form.

We will update this information in all VanEd courses immediately for students.  The Notice from the Division of Real Estate is below:

This notice is to inform you that the Colorado Real Estate Commission (Commission) at their February 5, 2019 meeting, voted to approve and reinstate the Licensee Buy-Out Addendum to Contract to Buy & Sell Real Estate Form, effective immediately. To review and obtain a copy of this newly enacted form for your use, please visit the Commission’s Contracts and Forms Web Page for a copy of the red-line and clean draft of this Commission approved form.  

Written and Published by: VanEd

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