Contracts
A Colorado Contract to Buy and Sell includes a 'survey objection' deadline. This allows the buyer to review a survey and object to:
AAny feature of the neighborhood
BEncroachments, easements, or boundary disputes revealed by the survey✓ Correct
CThe seller's property tax assessment
DThe size of the property if it matches the listing
Explanation
The survey objection deadline allows the buyer to review a new or existing survey and raise objections to survey matters such as encroachments from or onto neighboring properties, survey exceptions in title, or boundary discrepancies.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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