When purchasing a real estate property, you will need to use a promissory note as part of the transaction. There are three primary promissory note forms that are normally used in a real estate transaction in Colorado, and often you have to pay for these forms.
Submit the form on the right to recieve the following FREE forms:
- Earnest Money Promissory Note -- This form allows you to detail how much money you are depositing when purchasing a property. This money is typically withdrawn after 24-48 hours after the offer is accepted, and is held by a third party.
- Promissory Note -- This is a legally enforceable document that says the property purchaser promises to repay the property owner a certain amount of money in a certain time frame with interest.
- Promissory Note (UCCC No Default Rate) -- This document doesn't have a default rate, meaining that the property purchaser has a twenty-day period to pay without any interest.
Remember as you review the forms:
Make sure you understand the terms being used and the information required to formally file the documents so they are legally on record
Take your time to create a valid and enforceable promissory note
Be sure that the promissory note form is legally enforceable