The Colorado Division of Insurance supports CARHOF’s contributions to the community and takes the position that title companies can also establish interest-bearing escrow accounts where interest is transferred to CARHOF. Unlike real estate offices, which post a notice to clients and customers disclosing CARHOF participation, the Division of Insurance requires that the escrow agent provide the notice at the time the funds are entrusted.

If you are depositing earnest money and other escrow funds with a title company that participates in CARHOF, please use the following language in paragraph 14 Special Instructions of the Closing Instructions Form No. CL 8-9-95, or in paragraph 24 Additional Provisions of the Residential Contract, or in an addendum to the contract, or as the sole provision in a separate agreement which would be signed by both the Seller and the Buyer:

"Seller and Buyer acknowledge and agree that any interest accruing on the funds escrowed with the Broker or the Closing Company in this transaction may be transferred to the Colorado Association of REALTORS® Housing Opportunity Foundation, a 501(c)3 charitable organization, for the purpose of supporting affordable housing in Colorado."