3 Colo. Code Regs. § 714-1-L-3

Current through Register Vol. 47, No. 20, October 25, 2024

Section 3 CCR 714-1-L-3 - BROKERAGE AGREEMENTS (THREE-PARTY TRANSACTIONS)

a.Listing Agreements.

Any dealer who contracts with an owner of a manufactured home to sell or trade such home as the owner's agent shall execute a listing agreement with the owner(s). The following items shall appear in each listing agreement.

1. The effective date and termination date of the agreement.

2. The amount and manner in which the dealer's fee is to be paid.

3. The sales price and the terms of sale.

4. A legal description of the manufactured home including make, year, serial number and size.

5. The name of any lienholder and approximate amount of lien, if any.

6. Improvements, equipment and components which are included or excluded with the listing.

7. Name and address of licensee.

8. Name and address of the owner-seller.

9. Each page and or attachment(s) thereto shall be signed or initialed by the owner-seller and the agent.

Any change in the original listing agreement must be signed or initialed by both parties.

b.Three-Party Sales Agreements.

(Buyer, seller and agent,) Any dealer who contracts to sell or trade a manufactured home as an owner's agent shall execute a written agreement wherein the following items appear:

1. The date of the agreement.

2. The amount of earnest money or payments made by the buyer at the time the agreement is signed.

3. The present location of the home.

4. The legal description of the home including year, make, size and serial number.

5. The selling price and terms of the sale.

6. Improvements, equipment and components which are included with the sale.

7. The date of closing and date of possession.

8. The name of any lienholders and the amount of lien.

9. Name and address of the licensee.

10. Name and address of owner-seller.

11. Name and address of the buyer.

12. Each page and or attachments shall be signed or initialed by the owner-seller, the agent-licensee and the buyer. Any changes in the agreement must be signed or initialed by all three parties.

13. The amount of the commission the dealer is receiving in the transaction.

3 CCR 714-1-L-3