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Two questions please. I am an employing broker in Telluride.

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Two questions please. I...

Two questions please. I am an employing broker in Telluride. There is a rumor going around that the Square Footage Disclosure is no longer required, however it is still on the DORA checklist. True?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Colorado

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I don't understand your question

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Yes, do Colorado brokers have to disclose that a property is ADA handicap accessible?

Submitted: 11 months ago.Category: Legal
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Answered in 13 minutes by:
8/1/2017
Lawyer: Law Educator, Esq., Attorney replied 11 months ago
Law Educator, Esq.
Category: Legal
Satisfied Customers: 125,822
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
1) The rule says that a licensed broker is not required to measure, not that he is not required to disclose square footage. The rule states as follows:
"Licensee measurement. A licensee is not required to measure the square footage of a property. If the licensee takes an actual measurement it does not have to be exact, however, the licensee’s objective must be to measure accurately and calculate competently in a manner that is not misleading, and:
i. The standard, methodology or manner in which the measurement was taken must be accurately disclosed to the buyer and seller;
ii. The buyer and seller must be advised that the measurement is for purposes of marketing and is not a measurement for loan, valuation or any other purpose; and
iii. The buyer and seller must be advised that if exact square footage is a concern, the property should be independently measured.
(b) Other sources of square footage. If a buyer or seller is provided information from another source for square footage, that source (whether an actual measurement, building plans, prior appraisals, assessors office, etc.) shall include the date of issuance if any and must be disclosed to the buyer and seller in writing by the licensee, in a timely manner. Such disclosure must be on the Commission approved form and must advise the recipient to verify the information. A licensee may not provide information to a person from a source known to be unreliable and is responsible for indicating obvious mismeasurement by others."
2) The ADA disclosure is not mandatory, but if a premises is ADA compliant that is a selling feature of the premises. Thus, if the property is accessible it should be disclosed.
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