Real Estate Term of the Day: Liquidated Damages

Real Estate Term of the Day: Liquidated Damages LIQUIDATED DAMAGES – an amount agreed upon on in a contract that one party will pay the other in the event of a breach of contract (Barron’s Dictionary of Real Estate Terms)  According to Section 21 of the Colorado Real Estate Commission approved Contract to Buy and Sell Real Estate, liquidated … More Real Estate Term of the Day: Liquidated Damages

Real Estate Term of the Day: Lead-Based Paint

Real Estate Term of the Day: Lead-Based Paint LEAD-BASED PAINT – considered a hazardous material. It is potentially poisonous and its existence in property is to be disclosed to a buyer. Its presence is often difficult to determine because applications of lead-based paint may have been covered by more recent paint applications that are free … More Real Estate Term of the Day: Lead-Based Paint