In the world of investment properties, especially commercial ones—nobody likes surprises. That’s where the Tenant Estoppel Certificate comes in clutch! Think of it as a reality check that confirms all the important lease details—rent, deposits, responsibilities, and more—so buyers, landlords, and lenders are all speaking
Q: What is commission sharing, as opposed to the seller paying both their agent and the buyer’s agent? Isn’t it the same thing? A: Commission sharing, also known as cooperative compensation, means that one agent is being paid by a party to the transaction and
If your buyer is interested in purchasing property under a lease option agreement, remember that OREF offers OREF 085 – Option Agreement. This form, combined with the appropriate real estate sale agreement and a lease agreement, provides the tools necessary to tie the documents together
Q: Under Section 6 of OREF 001—Residential Real Estate Sale Agreement, sellers must pay appraisal reinspection fees only if their breach causes the need for an appraisal reinspection. If the seller agreed to install water heater straps during repair negotiations and the appraiser flagged them
Remember that OREF provides a referral fee agreement. If you refer a buyer or seller to another agent and expect to receive compensation for that referral, it’s always best to have the arrangement in writing. OREF 107—Referral Fee Agreement is the perfect solution! All comments
When negotiating the deadline for repairs in OREF 022A or 022B—Buyer/Seller Repair Addenda, consider whether the repair will need to be done to meet appraisal requirements. If so, confirm that the deadline for completion isn’t later than when the appraisal is expected to be conducted.
Q: My buyer has asked if they can bring a friend to property showings. Do I need to have a signed buyer representation agreement with the friend before they enter any homes? A: The need for a buyer representation agreement hinges on the friend’s intended
Big News! The OREA has updated its rules to align with HB 4058, which means changes to the Buyer Representation Agreement. This must-have form just received a refresh—find out what’s been changed and how it applies to your clients. Do you have an idea or
Q: Section 22 of OREF 001 – Residential Real Estate Sale Agreement requires the seller to list all smart home features within a default of 3 business days after the effective date. Besides doorbell cameras, what other smart home features are there? A: The term
If your buyer is feeling nervous about depositing earnest money and wondering if it is protected in escrow, point them to Section 32 of OREF 001 – Residential Real Estate Sale Agreement. This section clearly instructs escrow to hold all earnest money on deposit until