Until January 1, 2011, investors who purchase a short sale property are required to use a different contract under the Colorado Foreclosure Protection Act. The purpose of the act is to protect home sellers who are facing foreclosure and receive a purchase offer from a buyer who is not planning on occupying the home as […]
Yet another change that will affect investors who purchase Fannie Mae Real Estate Owned (REO) listings. Investors will not be allowed to submit an offer on an REO property until after it has been on the market for 15 days. Within the first 15 days, only bids from buyers who will occupy the home as their primary residence […]
If you plan on purchasing a home in foreclosure and do not plan on living in the home as your principal residence, you may be affected by the Colorado Foreclosure Protection Act. If a property falls under the Colorado Foreclosure Protection Act, investors are required to utilize a different contract when purchasing a home in foreclosure. According […]