DORA Source of Water Addendum Colorado

What Is the Source of Water Addendum Colorado?

The DORA Source of Water Addendum Colorado form is an integral component of the property sales agreement in Colorado. The Colorado Division of Real Estate requires this document and provides all the necessary information with regard to the water supply, its characteristics, and reliability of a particular property that’s for sale. The form acts as an integral addendum to the purchase and sale agreement of a residential property, ensuring the transparency and awareness of the buyer on the water source of the property.

Primary objectives of DORA source of water addendum colorado

This Colorado Source of Water Addendum aims to ensure that every buyer is made aware of the different potential sources of water for the property they plan to purchase. The addendum provides potential water sources such as public water, wells, cisterns, or even a nearby ditch. Prospective homeowners can get a clear view of what to expect in terms of the water system of the property, thus influencing an informed decision.

How to Fill Out the Colorado Source of Water Addendum

Here's a detailed step-by-step guide on how to fill out the DORA Source of Water Addendum in Colorado using PDFliner:

1. Identify the associated Contract to Buy and Sell Real Estate by entering the date of the contract at the top of the form.
2. Enter the street address, city, state, and zip code of the property involved in the transaction under "known as No.".
3. Choose the appropriate section that describes the source of potable water for the property. If the property’s water source is a well, mark the box next to "The Property’s source of water is a Well" and provide the Well Permit number. Additionally, indicate whether a copy of the current Well Permit is attached by selecting either "Is" or "Is Not".
4. If the water is provided by an external provider, fill out the Water Provider section by entering the provider's name, address, website, and phone number.
5. If there is neither a well nor a water provider, describe the source of water in the space provided under section 2.3.
6. Review the note to the buyer regarding the potential reliance on nonrenewable groundwater sources and the importance of verifying long-term water sufficiency with the provider or by investigating the described source.
7. Sign and date the form in the provided fields at the bottom of the page for both the buyer and the seller.

This form includes critical information that may have legal implications; both parties are advised to consult with legal or tax counsel before signing to understand the consequences fully.