Contingencies are a normal part of any transaction—but removing them shouldn’t be complicated. This form makes it easy for the beneficiary to officially remove or waive a contingency and notify the other party. With clear references to the original agreement, simple checkboxes for common contingencies,
Q: In Section 5(a) of the Buyer Representation Agreement, can I list an hourly rate and clarify in Additional Provisions that the fee is hourly, with the total due being calculated near closing? A: While there is nothing specific in the NAR Settlement Agreement prohibiting
Q: If my buyer has not waived the Lead-based Paint contingency and the seller delivers the LBP addendum 5 days after the Effective Date, when does the buyer’s ability to terminate based on the LBP contingency end? A: According to Section 15 – Lead-Based Paint
Remember, when a real estate agent is buying or selling their own property, the Oregon Real Estate Agency’s rules require the agent to disclose their licensed status across all advertising and in the first written agreement. This rule also applies if a business entity is
Let’s be honest—title insurance probably isn’t something your clients talk about over dinner. It often sounds like a confusing mix of legal terms and fine print. This advisory provides clients with a basic overview of what title insurance is, what it typically covers (and doesn’t
When working with agents from outside Oregon, remember that real estate rules vary widely, even within the same state. Always verify local requirements, and don’t assume what works elsewhere will work in your market. If in doubt, check with your managing principal broker or legal
Q: As a means of delivering the required HOA documents to my buyer, the listing agent is providing a link to an HOA website with the seller’s username and password. My understanding is that this does not satisfy the documentation delivery requirement, which includes providing
Q: I’m preparing to list a vacant lot for sale. Is OREF 019—Vacant Land Disclosure required by statute? Should I have my seller complete it at the time of signing a listing so it’s ready for a potential buyer? A: A disclosure statement regarding vacant
When listing a property, confirm the seller understands FIRPTA and whether they’re considered a “foreign person.” Buyers should also be aware of potential financial consequences if the seller is determined to be a foreign person. OREF 092 – Advisory Regarding FIRPTA helps both parties make
Make sure to properly document the reason for terminating a transaction. Most termination reasons are covered by OREF 109 – Notice from Buyer to Seller and OREF 064 – Buyer’s Notice of Unconditional Disapproval. If the termination is based on the Seller’s Property Disclosure Statement,