It is commonly noted that buying real estate - whether a principal residence, rental housing or commercial property - is the largest single expense ever for most people.
Many sellers and purchasers of Colorado properties are likely well acquainted with earnest money and its purpose in a residential real estate transaction.
Colorado is often spotlighted as a state of exceptional beauty and multiple attractions, making it an obvious lure for purchasers of high-end residential properties. Many such buyers are state residents, of course, but legions of would-be out-of-state and international buyers are also on the constant lookout for vacation homes and compelling investment opportunities.
We noted in our immediately preceding blog post that easements "are prevalent in real estate transactions in Colorado and nationally" and can be materially important to contracting parties.