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Colorado Contracts and Regulations
Questions and Answers Latest 2026
The Homeowner Warning Notice, the Seller Warning, and
the Notice of Cancellation are part of the _____________
Ans: Foreclosure Sale Contract.
The ______________ is used by a Seller to allow a Lien
Holder to supply loan information to indentified parties
in order to ease the transaction process. Ans: Seller
Authorization
The Inspection Objection and the Inspection Resolution
allow the buyer and seller to __________________ Ans:
either come to an agreement or cancel the contract.
The Buyer is encouraged to consult the buyer's lender
prior to entering into a final resolution on inspection
matters as the resolution may _______________________
Ans: (1) have a detrimental impact on the Buyer's ability
to get the loan;
(2) cause delays in the lender's processing and funding of
the loan by Closing;
(3) require further inspections and repairs.
Communication with the lender should _____________
Ans: be in writing!
© 2025 All rights reserved
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If the buyer wishes to terminate based on the inspection,
they will use the __________________ Ans: Notice to
Terminate Form.
The agreement, or resolution, to any inspection
objections would be written up on either
an________________________. Ans: Inspection Resolution
or Amend/Extend Form.
The Inspection Objection is only a_______________ Ans:
notice to the Seller.
True or False: The Buyer can withdraw the Inspection
Objection by signing in the appropriate space on the
form. Ans: True
True or False: The moment a listing broker receives the
objection, it is deemed to have been delivered to the
seller. Ans: True!
This is also true for other electronic delivery, such as
email or eSignature programs, so long as the parties have
elected to allow them. A good practice is to ask the
listing/selling broker if their customers and clients
require a specific delivery method or if they will accept
electronic delivery.
The inspection resolution can also be memorialized in an
_________ Ans: amend/extend form.
Do or do not use both an Inspection Resolution Form
AND an Amend/Extend Form Ans: DO NOT!
© 2025 All rights reserved
Colorado Contracts and Regulations
Questions and Answers Latest 2026
The Homeowner Warning Notice, the Seller Warning, and
the Notice of Cancellation are part of the _____________
Ans: Foreclosure Sale Contract.
The ______________ is used by a Seller to allow a Lien
Holder to supply loan information to indentified parties
in order to ease the transaction process. Ans: Seller
Authorization
The Inspection Objection and the Inspection Resolution
allow the buyer and seller to __________________ Ans:
either come to an agreement or cancel the contract.
The Buyer is encouraged to consult the buyer's lender
prior to entering into a final resolution on inspection
matters as the resolution may _______________________
Ans: (1) have a detrimental impact on the Buyer's ability
to get the loan;
(2) cause delays in the lender's processing and funding of
the loan by Closing;
(3) require further inspections and repairs.
Communication with the lender should _____________
Ans: be in writing!
© 2025 All rights reserved
, 2 | Page
If the buyer wishes to terminate based on the inspection,
they will use the __________________ Ans: Notice to
Terminate Form.
The agreement, or resolution, to any inspection
objections would be written up on either
an________________________. Ans: Inspection Resolution
or Amend/Extend Form.
The Inspection Objection is only a_______________ Ans:
notice to the Seller.
True or False: The Buyer can withdraw the Inspection
Objection by signing in the appropriate space on the
form. Ans: True
True or False: The moment a listing broker receives the
objection, it is deemed to have been delivered to the
seller. Ans: True!
This is also true for other electronic delivery, such as
email or eSignature programs, so long as the parties have
elected to allow them. A good practice is to ask the
listing/selling broker if their customers and clients
require a specific delivery method or if they will accept
electronic delivery.
The inspection resolution can also be memorialized in an
_________ Ans: amend/extend form.
Do or do not use both an Inspection Resolution Form
AND an Amend/Extend Form Ans: DO NOT!
© 2025 All rights reserved
