F ix for Fixtures -- Colorado Real Estate Dictionary
Colorado Real Estate Terms -- Use this glossary to make yourself more prepared
I'm really interested in selling my house, but I don't want to sell my chandeliers in the dining room and hallway as they were a gift from my parents. In most states, including in Colorado, the chandlers would be considered Fixtures and would include with the sale of your house. Make sure your Realtor exclude these items in your listing agreement; or you could take them down and replace them with other light fixtures.
I was a property description in the MLS, and it said the house was on a Flag Lot, what does this mean? A Flag lot usually has the configuration of the flag with a longer driveway and the house on the "Flag". In some areas of the country this type of lot is called a Pipe Stem.
My Realtor in Colorado Springs said that that as a Buyer's Agent she has a Fiduciary Responsibility to me. What is this? A Fiduciary Responsibility describes the obligations of a Realtor, which include loyalty, obedience, and full disclosure. There is a complete description of the responsibilities in the Exclusive right to Buy Document.
My loan on my house is based on a 6 ½ % rate for the duration of the loan, is this a Fixed Rate Mortgage? Yes, a Fixed Rate Mortgage has a consistent rate for the term of the loan, it will not change.
Why does my builder say that he needs to place the footings below the Frost Line? Because once footings are below the Frost Line, there shouldn't be movement in them. The Frost Line will vary in different parts of the Country.
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