New Guidance For Real Estate Transactions
10 Apr 2020
On April 9, 2020, the Colorado Division of Real Estate (DRE) provided guidance on what a real estate broker can and cannot do under Governor Polis’ Executive Order ordering Coloradans to stay at home due to the presence of Coronavirus. These new guidelines relating to Public Health Order 20-24, are applicable to real estate brokers and service providers who contribute to real estate transactions. The DRE’s guidance provides that brokers are not authorized to conduct real estate marketing services such as in-person showings or open houses. Services critical to complete real estate transactions, such as appraisals, closing services, home inspections, and final walkthroughs for buyers who have signed a purchase agreement are authorized by the Order. All service providers that are authorized to continue operating must still comply with social distancing requirements at all times and implement telework or other strategies, such as staggered schedules or re-designing workplaces, to create more distance between workers unless doing so would make it impossible to carry out the critical functions of the service providers.
The Order is in effect until April 26, 2020.
The information provided herein is intended as general information and is not to be construed as legal advice. If legal advice is needed, you should consult an attorney.
Ryan Wilcox [LINK] is a real estate attorney at Ireland Stapleton Pryor & Pascoe. In his practice, Mr. Wilcox represents real estate developers and investors. He provides legal advice on all aspects of real estate related matters for his clients, including real estate acquisitions, sales, financing, leasing, land use, creation of commercial and residential ownership associations pursuant to the Colorado Common Interest Ownership Act, and 1031 tax deferred exchanges. In connection with his real estate representation, Mr. Wilcox assists with all aspects of entity formation. He can be reached at 303-628-3616 or firstname.lastname@example.org.
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