Colorado Rule F Forms
Documents that fall under Rule F in Colorado include Purchase Contracts, Addendums, Sq Ft Disclosures, Counter Offers, Agency Disclosures, etc… So what is a rule F form? The first thing to keep in mind is that this only applies to Colorado and has nothing to do with any other state, thus, if your property is outside of Colorado, you can completely ignore this entry.
Taken from the CO Dept of Real Estate Website:
F-7 Commission Approved Forms
Real estate brokers are required to use Commission-approved forms as appropriate to a transaction or circumstance to which a relevant form is applicable. In instances when the Commission has not developed an approved form within the purview of this rule, and other forms are used, they are not governed by Rule F. Other forms used by a broker shall not be prepared by a broker, unless otherwise permitted by law.
So what does this really mean?
It means the state of Colorado produces specific documents that they force CO Real Estate Brokers to use when the particular document applies to that situaion. In basic terms, the state feels they can better protect everyone if they force Real Estate Brokers to use pre-printed contracts approved by the state. It is very important to keep in mind that this only applies to Real Estate Brokers. Two unlicensed parties can still draft a contract without the use of a Rule F form if no broker is involved.
Tags: Rule F