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Author: Ashley Folse

Lead-Based Paint Addendum

Lead-Based Paint Addendum

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The language and compliance requirements contained in the Lead-Based Paint Disclosure Addendum are mandated by the EPA and are not tailored specifically to Oregon real estate practice. The EPA recently revised both the required disclosure language and related compliance obligations. Under the updated provisions, reflected
Suitability vs. Inspection Contingencies—What’s the Difference?

Suitability vs. Inspection Contingencies—What’s the Difference?

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Q:  Can you explain the difference between the Suitability Contingency and the Inspection Contingency in the OREF residential sale agreements?  Can you only choose one, or can you choose both?  What is the main purpose of the suitability contingency?    A:  The Suitability Contingency allows a buyer to evaluate whether a property meets
The Appraisal Contingency Only Exists If You Check the Box

The Appraisal Contingency Only Exists If You Check the Box

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In OREF 001 – Residential Real Estate Sale Agreement it’s important to remember that the failure to select either the yes or no box following the question in Section 3 – Financing Type, “Is this transaction contingent upon an appraisal?” will result in there being no appraisal contingency included as part of the transaction.  Agents should always check one of
Loan vs. Appraisal Contingencies—What Changed in the 2026 OREF Forms?

Loan vs. Appraisal Contingencies—What Changed in the 2026 OREF Forms?

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  Q:  I’d appreciate some additional information on the appraisal contingency now being separated from the loan contingency in OREF 001 – Residential Real Estate Sale Agreement.  The loan contingency still includes a requirement that the property qualify for the loan.  Qualifying, to me, means final underwriting approval from the lender, which typically requires an appraisal.  Can you