The closing deadline included in the sale agreement allows for closing to occur “on or before” a specific date. The definition of closing includes the need for the parties to sign closing documents and for the recording of the deed and funding to occur. If
Q: I noticed in OREF 112-Translation Interpretation Services Affidavit that item (b) states that the interpreter must be at least 18 years old. My buyers’ choice of interpreter is their daughter, who is 14. Can we add language to item (k) stating that the buyer
The language of the Licensed Professional Inspections contingency included in each of the Sale Agreements in the OREF Residential Library requires that the buyer will not provide the inspection report or any portion thereof to the seller unless the seller requests a copy in writing.
Q: After reviewing a completed OREF 020 – Seller’s Property Disclosure Statement, a buyer I am representing in a purchase has decided to terminate the transaction. I have thoroughly reviewed OREF 064 – Buyer’s Notice of Unconditional Disapproval, and I can’t find an option
Many OREF forms include a wealth of information regarding the topics of the forms and can be excellent resources. For example, OREF 082 – Private Well Addendum, contains information about the statutory well-testing requirements for properties that include a well providing domestic water, and even
Q: If I have another agent working with a buyer for me while I’m on vacation, what forms do I need to use to ensure they are properly documented as representing the buyer during that time? A: Your firm may have policies on handling this,
Whether you’re working with sellers or buyers, having a well-prepared and professional presentation is key to building trust and ensuring success. Here are things we recommend including when you meet with your buyer or seller for the first time. Must-Haves for Seller Presentations: OREF 047
When assigning a sale agreement to a new buyer or adding an additional buyer, it is essential to ensure that all parties are fully aware of their rights and responsibilities. OREF’s new form, Assignment and Assumption of Sale Agreement, provides a clear and effective way
Q: A buyer I am working with recently decided to make an offer on a property I showed them. Unfortunately, the property went pending in the MLS before we could make the offer. I called the listing agent, who said the seller would consider “backup
What should you do if your client tells you they’ve decided to take some action in a transaction that you think is detrimental to their position? It is your fiduciary obligation as their agent to disclose this concern to them. Suppose they insist on proceeding