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Real Estate Dictionary — “C” is for CMA

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Who has capacity to sign a contract? Most adults have capacity to sign a contract, even if they are illiterate. A minor, typically does not have capacity to sign a contract.

I heard someone say that I needed to look at the CC & R’s in the subdivision. CC & R’s stand for covenants, conditions and restrictions; which are considered private restrictions on the use of the property. Many new subdivisions in Colorado Springs and Monument have CC & R’s.

What does caveat emptor mean? It is a Latin term that stands for Let the Buyer Beware; the buyer is buying a property “as-is” In Colorado, bank owned properties are often sold “as-is”

Why do I have to wait for the Certificate of Occupancy on my new house? Because Read the rest of this entry »

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