A Colorado property disclosure statement is a form created by the Real Estate Commission for the purposes of encouraging transparency between buyers and sellers of residential real estate. It is a seller’s duty to disclose to potential buyers any adverse material facts concerning the property, i.e., issues that would negatively affect the value of the real estate. Furthermore, a real estate broker is obligated by state law (§ 12-61-804(3)(a)) to reveal any known adverse material facts to buyers, including issues with the title or physical condition of the property.
The Seller’s Property Disclosure (Residential) form covers most important aspects of the property being sold including structural condition, appliances, utilities and hookups, water, and zoning information. It can be completed by the seller with help from their real estate broker or agent.
Laws – § 38-35.7
Purchase Agreement – The property disclosure statement and purchase and sale agreement cover most disclosures required by state law; however, the seller will also have to provide a Green Disclosure Form and, if the property was built prior to 1978, a Lead-Based Paint Disclosure Form.