Contracts
Under Colorado's Contract to Buy and Sell, the 'Seller's Property Disclosure' (SPD) is:
ARequired by law for all commercial transactions
BA voluntary form that sellers of residential property are encouraged but not required to complete✓ Correct
CRequired only if the property has known defects
DReplaced by the home inspection report
Explanation
Colorado's Seller's Property Disclosure is a voluntary form — Colorado does not legally mandate sellers to complete an SPD. However, completing it is strongly encouraged and is industry practice.
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