DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
REAL ESTATE BROKERS AND SALESPERSONS
4 CCR 725-1

SHORT SALE ADDENDUM TO CONTRACT TO BUY AND SELL REAL ESTATE

AND

SELLER AUTHORIZATION

Pursuant to and in compliance with Title 12, Article 61 and Title 24, Article 4, C.R.S. as amended, notice of proposed rulemaking is hereby given, including notice to the Attorney General of the State of Colorado and to all persons who have requested to be advised of the intention of the Colorado Real Estate Commission (the “Commission”) to promulgate rules, or to amend, repeal or repeal and re-enact the present rules of the Commission.

Section 1.	Authority
Section 2.	Scope and Purpose
Section 3.	Applicability
Section 4.	Rule F-7 – Use of Commission Approved Forms
Section 5. 	Effective Date

Section 1.	Authority
 
The statutory basis for the adoption of these rules regarding real estate brokers and salespersons is Parts 1 and 8 of Title 12, Article 61 C.R.S. The specific rulemaking provisions contained therein are sections 12-61-114(4) and 12-61-110.5(5), C.R.S.

Section 2.	Scope and Purpose

The purpose of this rule is to amend rule F-7 regarding the mandatory use of standard and approved forms, to add new mandatory forms and to amend existing mandatory forms.
Section 3.	Applicability
The provisions of this section shall be applicable to real estate brokers. 

Section 4.	Rule F – Use of Commission Approved Forms

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. 

Forms with a 2008 adoption date may be used as of February 5, 2008 and are mandatory March 31, 2008.

The following are the forms promulgated by the real estate commission and are within the purview of Rule F: 
 (a)	Listing Contracts 
Exclusive Right-to-Sell Listing Contract (All Types of Properties)	LC50-10-06
Exclusive Right-to-Buy Contract (All Types of Properties)	BC60-04-05
Exclusive Brokerage Listing Contract (All Types of Properties)	LC53-10-06
Open Listing Contract (All Types of Properties)	LC54-10-06
Exclusive Right-to-Lease Listing Contract (All Types of Property)	LC57-10-06
Exclusive Tenant Contract (All Types of Premises)	ETC59-10-05
Seller Authorization	SA20-2-08

(b)	Sales Contracts 
Contract to Buy and Sell Real Estate (All Properties)	CBS1-8-07
(c)	Addenda to Contracts 
Licensee Buy-Out Addendum to Contract to Buy and Sell Real Estate	LB36-8-07
(see footnote # 2)
Source of Water Addendum to Contract to Buy and Sell Real Estate	SWA35-8-07
Short Sale Addendum to Contract to Buy and Sell Real Estate		SSA38-2-08
Inspection Notice	NTC43-08-07 
Exchange Addendum to Contract to Buy and Sell Real Estate	EX32-05-04 
Lead-Based Paint Disclosures (Sales)	LP45-05-04 
Lead-Based Paint Disclosures (Rentals)	LP46-05-04
Brokerage Duties Addendum to Property Management Agreement	BDA55-0405 
Foreclosure Property Addendum	FPA 33-8-07
Notice to Cancel	NC34-10-06
(d)	Disclosure Documents 
Brokerage Disclosure to Buyer/Tenant (see footnote # 3) BD24-10-06
Brokerage Disclosure to Seller (REO and Non-CREC Approved Listings) BDD56-10-05 
Broker Disclosure to Seller (Sale by Owner) (see footnote # 3) SD16-05-04 
Definitions of Working Relationships (see footnote # 3) DD25-05-04 
Seller's Property Disclosure (All Types of Properties) SPD19-8-07 
Change of Status CS23-10-06 
Square Footage Disclosure SF94-05-04 
(e)	Counterproposal 
Counterproposal 	CP40-8-07 
(f)	Agreement to Amend/Extend Contract 
Agreement to Amend / Extend Contract	AE41-8-07 
Agreement to Amend / Extend Contract with Broker	AE42-05-04 
(g)	Closings 
Closing Instructions	CL8-8-07
Earnest Money Receipt	EM9-8-07
Statement of Settlement (see footnote # 1)	SS60-05-04 
(h)	Deeds of Trust 
Deed of Trust (Due on Transfer-Strict)	TD72-10-06 
Deed of Trust (Due on Transfer-Credit worthy Restriction)	TD73-10-06 
Deed of Trust (Assumable-Not Due-on-Sale)	TD74-10-06 
(i)	Promissory Notes 
Earnest Money Promissory Note	EMP80-05-04 
Promissory Note for Deed of Trust (UCCC-No Default Rate)	NTD82-10-06 
Promissory Note for Deed of Trust	NTD81-10-06 
(j)	Optional Forms (Not Mandatory) 
Worksheet for Real Estate Settlement	SS61-05-04 
Real Property Transfer Declaration	TD-1000 
Earnest Money Release	EMR83-05-04 
Common Interest Community Checklist for Brokerage Firm	CICC-05-04 
Lead Based Paint Obligations of Seller	LP47-05-04 
Lead Based Paint Obligations of Landlord	LP48-05-04 
Listing Firm’s Well Checklist
Colorado Statutory Power of Attorney for Property Form 

Footnotes: 
(1) In lieu of using this form, Brokers may, use a statement of settlement that is in full compliance with Rule E-5. 
(2) This form is to be used when a broker enters into a contract to purchase a property either: (a) concurrent with the listing of such property; or (b) as an inducement or to facilitate the property owner’s purchase of another property; or (c) continues to market that property on behalf of the owner under an existing listing contract. 
(3) It shall be permissible to use the language in a format approved by the Commission, or in a format applicable to the broker’s written office policy. The broker may, in addition to the required brokerage disclosure form, use the document, Definitions of Working Relationships. 
Section 5.	Effective Date

This rule is effective May 1, 2008.