Ashley Folse, Author at Oregon Real Estate Forms

Under OREF 001 Section 6: Who Pays the Appraisal Reinspection Fee for Missing Water Heater Straps?

1 year ago in

Dear Forms Committee

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

Lock In Referral Fees: Make OREF 107 Your Go-To Agreement

1 year ago in

Tip of the Week

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

OREF 022A/B Repair Deadlines: Don’t Overlook Appraisal Requirements

1 year ago in

Tip of the Week

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.

Do I Need a Buyer Rep Agreement for a Friend Tagging Along on Showings?

1 year ago in

Dear Forms Committee

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

OREF 050 – Buyer Representation Agreement

1 year ago in

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

Smart lights, voice assistants & more—what other features are considered ‘smart’?

1 year ago in

Dear Forms Committee

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

How Section 32 of OREF 001 Helps Calm Buyers Earnest Money Jitters

1 year ago in

Tip of the Week

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

Non-Member MLS Showings: Are Written Commission Confirmations Still Required?

1 year ago in

Dear Forms Committee

Q: I’ve always been told that I shouldn’t show property exclusively listed in an MLS for which I’m not a member without first getting something in writing from the seller’s agent confirming they’ll share their commission with me. Has this changed with the changes in

Sellers’ agents, don’t forget to document the offer delivery to your seller!

1 year ago in

Tip of the Week

As a seller’s agent, remember to complete the delivery documentation located just above the seller’s response section in the OREF Sale Agreements. This documentation is required by both the Oregon Administrative Rules and the NAR Code of Ethics. Buyer’s agents should not complete this section.

Personal property vs. fixtures in OREF Sale Agreements—what’s the difference?

1 year ago in

Dear Forms Committee

Q: What is the difference between “Personal Property” and “Fixtures” in the OREF Sale Agreements? A: “Personal property” is movable property, such as furniture, pictures, and hoses. “Fixtures” were personal property at one time, but now they are items attached to the structure in a

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Author: Ashley Folse