In addition to using OREF 102 – Advisory to Buyer Recording Devices May Be Present, it’s a good idea to remind your buyer regularly to hold off on any conversations while still on the property. All comments and responses from OREF or its staff, managers,
We know we’ve discussed the OREF 050 — Buyer Representation Agreement — Exclusive before, but with the recent NAR settlement changes, it’s now mandatory for buyers to sign an agreement with an agent before touring homes. It’s essential to fully grasp the details of this
Encourage your buyer to discuss their Buyer Representation Agreement with their lender as early as possible. Addressing key considerations with the lender upfront can help streamline the process and avoid potential delays. All comments and responses from OREF or its staff, managers, and volunteers are
Q: My buyer’s offer included OREF 048 – Seller Contributions Addendum, asking the seller to contribute towards buyer agent compensation. The seller accepted the offer but did not sign the version of OREF 048 provided; instead, they wrote their own version of OREF 048 and
Q: Can a buyer terminate based on the LBP contingency without having a risk assessment done? A: Yes, the Lead-based Paint Hazard Rule doesn’t require an assessment. It requires disclosures. The three disclosures sellers must provide are (1) the EPA pamphlet “Protect Your Family from
When drafting an Addendum to the Sale Agreement, using “Agreement” or “Sale Agreement” to refer to the Sale Agreement will clarify which document you are referring to. Using “Contract” or “PSA” can create ambiguity and confusion between the parties. All comments and responses from OREF
Q: If my buyer provided a pre-approval letter with their offer, can they switch lenders later to get a better interest rate? A: In the Buyer’s Obligations Regarding Financing section of the Sale Agreement, the buyer promises in item (d) not to replace the lender
Good news for SkySlope users! You can now create and send a Buyer Representation Agreement to your clients directly from your mobile device. After downloading and logging into the SkySlope Mobile App, just follow these easy steps: 1. Tap the “+Create Transaction” button
If the buyer would like to ensure specific personal property is included in the sale, those items should be documented in the Sale Agreement for clarity and transparency. Remember, MLS printouts or marketing materials are for informational purposes and are not considered part of the
Q: What is the difference between the seller providing a deed or contract at closing, as identified in Section 1 of the Sale Agreement? A: When a buyer and seller enter into a Sale Agreement that requires seller-carried financing, they can choose between two different