COUTANT CREEK RANCH ®
Sheridan, WY | 2,253± acres | Offered @ $7.685M
COUTANT CREEK RANCH
TABLE OF CONTENTS
PROPERTY OVERVIEW | 6
AREA INFORMATION | 12
CLIMATE | 13
LOCATION | 14
RECREATION | 16
RANCH OPERATIONS | 18
WATER & MINERAL RIGHTS | 20
IMPROVEMENTS | 22
SUMMARY | 24
BROKER INFORMATION | 28
PROPERTY
OVERVIEW
Coutant Creek Ranch | Sheridan, Wyoming
Boasting trophy-size mule deer, multiple year-round creeks, highproducing hay meadows, plus a custom newly built home, Coutant Creek Ranch is a multifaceted cattle operation nestled underneath the Bighorn Mountains.
Located just 16 miles northeast of historic Sheridan, Wyoming, the Coutant Creek Ranch offers a serene setting with sweeping views of the Bighorn Mountains completed by two meandering creeks, well-watered and highproducing hay meadows under sprinkler irrigation, summer grazing pastures, a custom newly built home plus guest quarters, and habitat for upland birds, waterfowl, and trophy class mule deer, pronghorn antelope, and whitetailed deer.
The ranch irrigates just over 300± acres of highly productive creek bottom with 3 center pivots, 5 wheel lines, and additional flood irrigation. The ranch has substantial water rights from Lower Prairie Dog Creek and can easily irrigate 2 cuttings of hay, with potential for a 3rd cutting if an owner desires. In 2023, the ranch produced 1600 tons of grass/alfalfa mix hay over 2 cuttings. The current owner runs a commercial cow/calf operation and rates the ranch at a 250 AU carrying capacity. The ranch would lend itself nicely to a yearling operation or a winter hay base to a larger operation. The balance of the ranch boasts a rich riparian area, rolling native hill country, plus captivating juniper and cottonwood trees. The summer pastureland is watered by a buried pipeline and numerous reservoirs making the entirety of the ranch usable and accessible. Built in 2021, the 4 bedroom, 3.5 bathroom custom home is situated to absorb mountain and pasture views with vaulted ceilings and a desirable open floor plan and rock fireplace. A shop with an apartment above, cattle corrals, and shelters round out the improvements which enables immediate livestock support.
SHERIDAN, WY | 2,253± ACRES | OFFERED @ $7.685M
HIGHLIGHTS
• 2,173± contiguous deeded acres
• 80± acre BLM lease
• 16 miles NE of Sheridan, WY
• 3+ miles of Prairie Dog Creek, which flows all year
• 2+ miles of Coutant Creek
• ¼ of a mile to the Tongue River
• 405± acres of surface irrigation water rights | 6.951 CFS
• 2023 hay crops produced 1,600± tons of alfalfa grass
mix hay with 2 cuttings
• 3 center tower pivots and 5 wheel-line sprinklers
• Owner-rated 250 AU carrying capacity
• Trophy mule deer hunting plus an abundance of upland birds and waterfowl
• 4 bed, 3.5 bath custom new home with attached garage
• 2 bed, 1 bath guest apartment
• A 2,520± sq ft insulated metal shop with concrete floors
• 27 ft x 68 ft wood framed metal calving shed
• Finished with cattle corrals, shelters, and exterior and interior fences
COUTANT CREEK RANCH OFFERS AN ABUNDANCE OF SURFACE WATER IRRIGATION RIGHTS THAT ARE PUT TO USE ON A DIVERSE AND PRODUCTIVE RIPARIAN CORRIDOR. A NEW OWNER WILL HAVE THE OPTION TO MANAGE THE RANCH AS A PRODUCTIVE CATTLE OPERATION WITH RELIABLE WATER AND AN ABUNDANT HAY BASE, OR SHIFT THE FOCUS OF THE PROPERTY TO A BIG GAME AND BIRD HUNTING INVESTMENT. ONLY 25 MINUTES TO THE HISTORIC TOWN OF SHERIDAN WHICH REMAINS ONE OF THE MOST DESIRABLE AREAS IN THE ROCKY MOUNTAIN WEST TO OWN A RANCH.
Caleb Campbell
AREA INFORMATION
What to do nearby.
SHERIDAN
You might hear folks around Sheridan, Wyoming referencing the town motto, “Everything old is new again.” The wellknown quote from Jonathan Swift perfectly describes the connections between past and present in this northern Wyoming town of approximately 20,000. Rich in Western culture from guest ranches to rodeos, the well-preserved historic buildings downtown pay homage to the town’s frontier past, but now house modern shops, restaurants, and breweries. Full of Old West charm and home to a vibrant art scene, Sheridan holds year-round events celebrating its storied, multi-cultural history. Located halfway between Yellowstone National Park and Mount Rushmore, Sheridan is a great launching point for a variety of outdoor adventures in the nearby Bighorn Mountains.
Named for Civil War General, Philip Sheridan, the town of Sheridan was incorporated in 1884—settled mostly by farmers migrating from the Midwest. Sheridan’s population and economic status quickly grew with the arrival of the Burlington and Missouri River Railroad, a booming coal mining industry just north of town, and plenty of opportunities in agriculture and ranching.
As the frontier town expanded, so did the Western culture in Sheridan. In the early 1900s, Buffalo Bill Cody of the famed Wild West show invested in and lived at the Sheridan Inn— frequently the site of auditions for his show. Guest ranches such as Eaton’s Ranch, the oldest dude ranch in the United States, began welcoming visitors, and in 1931 the WYO Professional Rodeo was established after residents saw the success of the PK Rodeo nearby. The Sheridan WYO Rodeo is now part of the PCRA Rodeo Tour and still draws a large crowd today.
Downtown Sheridan might still look like the Old West, but the arts and entertainment scene is decidedly modern. Catch a live performance at the restored art-deco WYO Theater or plan a visit to King’s Saddlery to shop their world-renowned ropes collection and Western apparel. Pony up to the Mint Bar for a craft cocktail, easily recognizable by its neon bronc sign, or relax with a cold one from Black Tooth Brewing Company.
Sheridan has a full roster of year-round events, from summer street fairs to dog sled races. Some of the biggest events of the year are, of course, Western in nature—including the WYO Rodeo competition and the Eaton’s Horse Drive, where the local ranch drives their horses right through the historic downtown. The Sheridan-WYO Winter Rodeo is a newer event, held every February, and includes traditional rodeo sports plus unique events like a skijoring competition. Truly, this place has something for everyone.
AIRPORTS
DOMESTIC AIRPORTS
SHERIDAN COUNTY AIRPORT (SHR/KSHR)
SHERIDAN, WY | 18 MILES
BILLINGS-LOGAN INTL. AIRPORT (BIL/KBIL)
BILLINGS, MT | 132 MILES
CASPER NATRONA COUNTY INTL. AIRPORT (CPR/KCPR)
NATRONA COUNTY, WY | 167 MILES
BOZEMAN YELLOWSTONE INTL. AIRPORT (BZN/KBZN)
BOZEMAN, MT | 282 MILES
CLIMATE
AVERAGE ELEVATION
3,744 FT
AVERAGE RAIN PER YEAR 13 INCHES
AVERAGE SNOW PER YEAR 35 INCHES
SUMMMER AVERAGE HIGH
87 DEGREES, HOTTEST MONTH IS JULY
AVERAGE WINTER LOW 11 DEGREES, COLDEST MONTH IS JANUARY
AVERAGE SUNNY DAYS PER YEAR
AVERAGE DAYS OF PRECIP. PER YEAR
BILLINGS
CODY
COUTANT CREEK RANCH
SHERIDAN
GILLETTE
BUFFALO
LOCATION & ACCESS
Coutant Creek Ranch sits 16 miles NE of Sheridan, Wyoming, and is accessible all year on a well-maintained gravel county road. All necessary amenities can be found in Sheridan, plus a lively and active restaurant scene.
SHERIDAN, WY
BUFFALO, WY
GILLETTE, WY
BILLINGS, MT
CODY, WY
16 MILES
50 MILES
117 MILES
130 MILES
154 MILES
RECREATION
HUNTING
Coutant Creek Ranch has all of the necessary attributes and habitat that contribute to quality deer and bird hunting. Mule deer and white-tailed deer flourish off the irrigated hay meadows with the year-round and high-quality food sources available with adjacent rolling hills serving as ideal bedding grounds. Similarly, the riparian area is a rich habitat for upland birds and waterfowl alike. A local turkey population also calls Coutant Creek Ranch home. A local outfitting company has historically leased a portion of the ranch each fall to guide hunters and even hosted a show in 2018 to showcase the quality of animals harvested during archery season. The current owners maintain a heavy agriculture focus, but the potential for habitat and food source improvement for upland birds is prolific. Enhancements to the deer hunting habitat could be made by planting a crop species to attract additional deer from the greater surrounding area.
BIGHORN MOUNTAINS
Sheridan is just a stone’s throw away from the nearby Bighorn Mountains, offering plenty of opportunities for hiking, hunting, fishing, and wildlife viewing. The Bighorn National Forest stretches over 1M acres, varying in elevation from 4,000 ft to 13,000 ft. Hikers can explore the dense alpine forests and pristine lakes along hundreds of miles of hiking trails. Discover Cloud Peak Wilderness Area for majestic mountain views in the most remote and “wild” preserved area of the Bighorn National Forest. Enjoy a gentle hike around one of the hundreds of serene alpine lakes, or challenge yourself to summit Cloud Peak at 13,167 ft.
TONGUE RIVER RESERVOIR
Just 20 minutes from Sheridan, Tongue River Canyon is popular for both hiking and fishing, including black bullhead, brook and rainbow trout. The hiking trail runs alongside the Tongue River as it cascades through limestone outcroppings on its way down from the Bighorn Mountains. Serving up scenic mountain vistas right from the trailhead, the area offers great hiking year-round and is home to wildlife such as black bears, deer, elk, birds and the occasional moose.
RANCH OPERATIONS
The ranch headquarters is nestled in a valley surrounded by captivating juniper and deciduous trees with 3± miles of the Lower Prairie Dog Creek and 2± miles of Coutant Creek winding through the hay meadow acreage. The upper portion of the ranch is used primarily for grazing during the summer months and the operation is owner-rated at a 250 AU carrying capacity. The ranch is currently a fully functioning cow/calf operation, but it could serve a sizeable yearling operation or an additional hay base to an existing nearby operation. Perimeter and interior fences are in place, and the pastures are accessible throughout the ranch with livestock water tanks strategically placed. The abundant and productive irrigated hay base gives a new owner multiple options to tailor the property to their needs. With two cuttings, 2023 produced 1,600± tons of alfalfa grass mix hay over 2 cuttings, and a third cutting could be harvested if desired.
• 2,173± contiguous deeded acres
• 80± acre BLM lease
• No covenants or deed restrictions on the property
• 405± acres of surface irrigation water rights | 6.951 CFS |
• 7 groundwater permits on the property
• No fees for the surface irrigation water
• 2023 hay crops produced 1,600± tons of alfalfa grass mix hay with 2 cuttings
• 3 center tower pivots and 5 wheel-line sprinklers
• Owner rated 250 AU carrying capacity
• 3+ miles of Prairie Dog Creek, which flows all year
• 2+ miles of Coutant Creek
• Situated with cattle corrals, shelters, and exterior and interior fences
WATER RIGHTS
Arguably the most valuable resource of this property is the substantial surface water rights. The ranch can divert an impressive 6.951 CFS from Lower Prairie Dog Creek for irrigation. The irrigation rights are adjudicated to 405 acres, of which only 300± acres are currently being irrigated. There is potential to add additional pivots and irrigate additional acreage than what is currently in production. Even in dry years the current owners were able to irrigate a 2nd cutting of hay, and could have done so with a 3rd cutting if desired. Lower Prairie Dog Creek empties into the Tongue River about ¼ mile north of the ranch. The State of Wyoming is a proponent of using the instream flow for irrigation before it enters Montana.
All water rights owned by the Seller will convey to the Buyer at closing, and all required filings with the Wyoming State Engineer’s Office will transfer the current water rights as they exist - with no warranty of future viability. Water rights in the State of Wyoming are subject to re-adjudication by the Wyoming State Engineer’s Office and may be determined by the court to be modified in validity, amount, priority, date, and place of use. All mineral rights owned by the Seller for the subject property will convey to the Buyer at closing.
Headquarters of Coutant Creek Ranch boasts a custom-built 4,442 sq ft new home completed in 2021 with 4 bedrooms, 3.5 bathrooms, and captivating views of the Bighorn Mountains and rolling hill lush pastures. The ideal and open floor plan is completed with a centrally located rock fireplace, vaulted ceilings finished with eye-catching artistic wooden beams, wood floors, and crisp tile work in the bathrooms and kitchen backsplash. The finished walk-out basement provides ample space for a large family or hosting visitors while the fully fenced yard provides a safe space for pets of all kinds or a summer garden plus plenty of storage room in the two-car garage. Take in views from the front porch and enjoy the serenity the ranch offers. An additional 1,128± sq ft guest apartment sits above the garage, with 2 bedrooms and its own bathroom. A 2,520± sq ft insulated metal shop with concrete floors, a 27 ft x 68 ft wood framed metal calving shed plus a set of cattle working corrals round out the entirety of the ranch improvements, making Coutant Creek Ranch ready to immediately support a new owner and livestock.
SUMMARY
Coutant Creek Ranch offers an extraordinary hay production base with ample irrigation water supply, lush summer grazing pastures plus a large recreational opportunity to hunt big game in the fall months. With ranging topography from flat hay meadows to high plateau ridges, the sweeping views of the Bighorn Mountains never get old. The new custom home is well designed while the remainder of the improvements were built to last. Serenity is offered throughout the ranch, while all necessary amenities and a lively restaurant scene can be found just 16 miles away in Sheridan. Coutant Creek Ranch sits ready to immediately support a new owner and livestock and boasts an abundance of diverse agricultural and recreational opportunities.
Offered @ $7,685,000
CONDITIONS OF SALE
• All purchase offers must be in writing and specify an earnest money amount equal to no less than 5.00% of the Buyer’s offering price. Earnest monies shall be deposited in escrow within 5 business days of acceptance of the offer by both parties.
• All Buyers must provide the contact information of the Buyer’s banker or financial institution that can assist the Sellers and their agents in validating the Buyer’s financial ability to execute the transaction. All Purchasers must demonstrate to the Seller’s satisfaction unquestioned financial capability to purchase the property.
• The Sellers will provide and pay for a standard owner’s title insurance policy. Any endorsements requested by the Buyer or any lender will be at the Buyer’s expense. Title to the real property will be conveyed by warranty deed.
• All of the Ranch’s water rights will be transferred to the Buyer and all of the mineral rights which the Seller actually owns will be conveyed to the Buyer at Closing.
TERMS
The Seller reserves the right to effect a tax-deferred exchange for other real property in accordance with provisions in Section 1031 of the Internal Revenue Code. The Buyer will not be required to incur any additional expenses nor to step into the chain of title on any property which the Seller may acquire.
This entire Offering is subject to errors, omissions, prior sale, change or withdrawal without notice and approval of purchase by the Seller. Information regarding land classifications, acreages, carrying capacities, crop yields, potential profits, etc., is intended only as generic guidelines and have been obtained from sources deemed reliable; however, accuracy is not warranted or guaranteed by the Seller or Western Ranch Brokers. Prospective Buyers should verify all information to their sole and complete satisfaction.
WESTERN RANCH BROKERS
OUR TEAM
Caleb understands current and past trends in the ranch brokerage industry, including but not limited to land stewardship, modern agriculture practices, water rights, wildlife habitat and procurement, and maximizing investment and income potential. With a degree in animal science from Montana State University Caleb is an expert on the ground while his business experience means he can work through the most intricate details of any transaction. Caleb is a fourth generation Montanan from a family known for business integrity along with well bred Quarter Horses and land stewardship. Caleb’s ranching background pairs
CALEB CAMPBELL
Broker (Licensed in MT & WY) (406) 579-6812
caleb@westernranchbrokers.com
Caleb Campbell knows well the intricacies of what owning a ranch in Montana really entails. Whether ranching for profit, recreation, investment, etc., a ranch can mean different things to different people. As a fourth generation Montanan, his background and education give him a unique insight into the past, present, and the future of ranch brokerage in the West and what that means to sellers and buyers alike.
nicely with his modern tech savvy and worldly experience— he’s traveled to six continents, studied abroad in Scotland, and worked on a cattle station in New Zealand before settling down to continue the family traditions in Montana.
When he’s not working for clients he can be found on horseback at a friend’s branding or the nearest team roping, hunting and fishing every corner of Montana, or at home settled on the family ranch with his growing family. With his young daughter representing the fifth generation in Montana, Caleb’s legacy within this great state continues.
LET OUR EXPERIENCE LEAD THE WAY
The team at Western Ranch Brokers brings a level of expertise and hands-on ranch experience you won’t find anywhere else. We are here to ensure you have a reliable, trustworthy, hardworking advisor when buying or selling a ranch. Our handshake is backed by a team of tireless professionals committed to your interests.
WYOMING RELATIONSHIPS IN REAL ESTATE
When you select a Real Estate Brokerage Firm, Broker or salesperson (all referred to as “Broker”) to assist you in a real estate transaction, the Broker may do so in one of several capacities. In accordance with Wyoming’s Brokerage Relationships Act, this notice discloses the types of working relationships that are available to you.
SELLER’S AGENT.
(Requires written agreement with Seller)
If a Seller signs a written listing agreement with a Broker and engages the Broker as a Seller’s Agent, the broker represents the Seller. On properties listed with other brokerage companies, the Broker may work as an agent for the Seller if the Seller agrees to have the Broker work as a subagent. As an agent or subagent for the Seller, the Broker represents the Seller and owes the Seller a duty of utmost good faith, loyalty, and fidelity in addition to the obligations enumerated below for Intermediaries. Wyo. Stat. § 33-28-303(a). The Seller may be vicariously liable for the acts of the Seller’s Agent or Seller’s Subagent that are approved, directed or ratified by the Seller. Customer. (No written agreement with Buyer or Seller) A customer is a party to a real estate transaction who has established no intermediary or agency relationship with any Broker in that transaction. A Broker may work either as an agent for the Seller treating the Buyer as a customer or as an agent for the Buyer treating the Seller as a customer. Also when a Buyer or Seller is represented by another Broker, a Broker may work with the other Buyer or Seller as a customer, having no written agreement, agency or intermediary relationship with either party. A Broker working with a customer shall owe no duty of confidentiality to a customer. Any information shared with Broker may be shared with the other party to the transaction at customer’s risk. The customer should not tell the broker any information which the customer does not want shared with the other party to the transaction. The Broker must treat the customer honestly and with fairness disclosing all material matters actually known by the Broker. The Broker owes the Customer the obligations enumerated below for Intermediaries which are marked with an asterisks. W.S. 33-28-310(a)
BUYER’S AGENT.
(Requires written agreement with Buyer)
If a Buyer signs a written Buyer Agency Agreement with a Broker, the Broker will act as an agent for the Buyer. If so, the Broker represents the Buyer and owes the Buyer a duty of utmost good faith, loyalty and fidelity in addition to the obligations enumerated below for Intermediaries. The Buyer may be vicariously liable for the acts of the Buyer’s Agent that are approved, directed or ratified by the Buyer. As a Buyer’s Agent, Wyoming law requires the Broker to disclose to potential Sellers all adverse material facts, which may include material facts regarding the Buyer’s financial ability to perform the terms of the transaction. Wyo. Stat. § 33-28-304(c). As a Buyer’s Agent, Broker has duties to disclose to the Buyer certain information; therefore, the Seller should not tell Broker any information which the Seller does not want shared with the Buyer.
INTERMEDIARY.
(Requires written agreement with Seller and/or Buyer)
A The Intermediary relationship is a non-agency relationship which may be established between a Broker and a Seller and/or a Broker and a Buyer. A Seller may choose to engage a Broker as an Intermediary when listing a property. A Buyer may also choose to engage a Broker as an Intermediary. An Intermediary shall not act as an agent or advocate for any party and shall be limited to providing those services set forth below. Wyo. Stat.§ 33-28-305. As an Intermediary (Non-Agent), Broker will not represent you or act as your agent. The parties to a transaction are not legally responsible for the actions of an Intermediary and an Intermediary does not owe the parties the duties of an agent, including the fiduciary duties of loyalty and fidelity. Broker will have the following obligations to you:
perform the terms of any written agreement made by the Intermediary with any party or parties to the transaction;
• exercise reasonable skill and care; advise the parties to obtain expert advice as to material matters about which the Intermediary knows but the specifics of which are beyond the expertise of the Intermediary; present all offers and counteroffers in a timely manner;
• account promptly for all money and property Broker received; keep you fully informed regarding the transaction;
• obtain the written consent of the parties before assisting the Buyer and Seller in the same real estate transaction as an Intermediary to both parties to the transaction;
• assist in complying with the terms and conditions of any contract and with the closing of the transaction;
• disclose to the parties any interests the Intermediary may have which are adverse to the interest of either party;
• disclose to prospective Buyers, known adverse material facts about the property;
• disclose to prospective Sellers, any known adverse material facts, including adverse material facts pertaining to the Buyer’s financial ability to perform the terms of the transaction;
• disclose to the parties that an Intermediary owes no fiduciary duty either to Buyer or Seller, is not allowed to negotiate on behalf of the Buyer or Seller, and may be prohibited from disclosing information about the other party, which if known, could materially affect negotiations in the real estate transaction.
• disclose Buyer’s intent to occupy property as primary residency.
As Intermediary, Broker will disclose all information to each party, but will not disclose the following information without your informed consent:
• that you may be willing to agree to a price different than the one offered; the motivating factors for buying or selling the property;
• that you will agree to financing terms other than those offered; or any material information about you, unless disclosure is required by law or if lack of disclosure would constitute dishonest dealing or fraud.
CHANGE FROM AGENT TO INTERMEDIARY.
(In-house transaction)
If a Buyer who has signed a Buyer Agency Agreement with Broker wants to look at or submit an offer on property Broker has listed as an agent for the Seller, the Seller and the Buyer may consent in writing to allow Broker to change to an Intermediary (non-agency) relationship with both the Buyer and the Seller. Wyo. Stat. § 33-28-307. An established relationship cannot be modified without the written consent of the Buyer or the Seller. The Buyer or Seller may, but are not required to, negotiate different commission fees as a condition to consenting to a change in relationship.
DESIGNATED AGENT.
(Requires written designation by the Brokerage Firm and acknowledgment by the Buyer or Seller)
A designated agent means a licensee who is designated by a responsible broker to serve as an agent or intermediary for a Seller or Buyer in a real estate transaction. Wyo. Stat. § 33-28-301 (a)(x). In order to facilitate a real estate transaction a Brokerage Firm may designate a licensee as your agent or intermediary. The Designated Agent will have the same duties to the Buyer and Seller as a Buyer’s or Seller’s Agent or Intermediary. The Broker or an appointed “transaction manager” will supervise the transaction and will not disclose to either party confidential information about the Buyer or Seller. The designation of agency may occur at the time the Buyer or Seller enters into an agency agreement with the Brokerage Firm or the designation of agency may occur later if an “in house” real estate transaction occurs. At that time, the Broker or “transaction manager” will immediately disclose to the Buyer and Seller that designated agency will occur.
DUTIES OWED BY AN AGENT BUT NOT OWED BY AN INTERMEDIARY.
WHEN ACTING AS THE AGENT FOR ONE PARTY (EITHER BUYER OR SELLER), BROKER HAS FIDUCIARY DUTIES OF UTMOST GOOD FAITH, LOYALTY, AND FIDELITY TO THAT ONE PARTY. A BROKER ENGAGED AS AN NTERMEDIARY DOES NOT REPRESENT THE BUYER OR THE SELLER AND WILL NOT OWE EITHER PARTY THOSE FIDUCIARY DUTIES. HOWEVER, THE INTERMEDIARY MUST EXERCISE REASONABLE SKILL AND CARE AND MUST COMPLY WITH WYOMING LAW. AN INTERMEDIARY IS NOT AN AGENT ADVOCATE FOR EITHER PARTY. SELLER AND BUYER SHALL NOT BE LIABLE FOR ACTS OF AN INTERMEDIARY, SO LONG AS THE INTERMEDIARY COMPLIES WITH THE REQUIREMENTS OF WYOMING’S BROKERAGE RELATIONSHIPS ACT. WYO. STAT. § 33-28-306(a)(iii). THIS WRITTEN DISCLOSURE AND ACKNOWLEDGMENT, BY ITSELF, SHALL NOT CONSTITUTE A CONTRACT OR AGREEMENT WITH THE BROKER OR HIS/HER FIRM. UNTIL THE BUYER OR SELLER EXECUTES THIS DISCLOSURE AND ACKNOWLEDGMENT, NO REPRESENTATION AGREEMENT SHALL BE EXECUTED OR VALID. WYO. STAT. § 33-28-306(b). NO MATTER WHICH RELATIONSHIP IS ESTABLISHED, A REAL ESTATE BROKER IS NOT ALLOWED TO GIVE LEGAL ADVICE. IF YOU HAVE QUESTIONS ABOUT THIS NOTICE OR ANY DOCUMENT IN A REAL ESTATE TRANSACTION, CONSULT LEGAL COUNSEL AND OTHER COUNSEL BEFORE SIGNING.
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