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Author: Ashley Folse

OREF 054 – Agreement to Occupy After Closing: Key Conversations to Have with Your Buyer to Avoid Post-Close Surprises

OREF 054 – Agreement to Occupy After Closing: Key Conversations to Have with Your Buyer to Avoid Post-Close Surprises

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OREF 054 – Agreement to Occupy After Closing: When preparing the Agreement to Occupy, make sure to have thorough discussions with your buyer client about how to best address the following items: a) the amount of the security deposit, and b) the property’s condition once

When to Use OREF 083: Contingent Offers and What to Do If Your Buyer’s Property Is Already in Escrow

When to Use OREF 083: Contingent Offers and What to Do If Your Buyer’s Property Is Already in Escrow

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Q: If my buyer’s offer is contingent on the closing of their property, which is already in escrow, do I still use OREF 083 – Buyer’s Contingent Right to Purchase Addendum? A: OREF 083 – Buyer’s Contingent Right to Purchase Addendum is only necessary if

OREF 064 & 057: Why Sending Both Forms Matters for a Clean Escrow Termination

OREF 064 & 057: Why Sending Both Forms Matters for a Clean Escrow Termination

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Although a buyer may be entitled to send the seller an OREF 064 – Notice of Unconditional Disapproval and thereby terminate the Sale Agreement, that termination is only a unilateral termination, not a joint termination.  Title companies almost always require joint instructions to terminate escrow

OREF Sale Agreements: Do Buyers Need to Disclose Lender Funds in the Representation of Funds Section?

OREF Sale Agreements: Do Buyers Need to Disclose Lender Funds in the Representation of Funds Section?

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Q: In the OREF Sale Agreements, does the buyer need to include funds from a lender in the Buyer Representation of Funds section? A: The contingency regarding funds from a lending institution is covered in the “Financed” section of the Sale Agreement (Section 6). If

Identifying Strong Contingencies: Key Elements for Clarity and Compliance

Identifying Strong Contingencies: Key Elements for Clarity and Compliance

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Identifying a proper contingency: You see a lot of contingencies throughout your business. Here are some things to look out for to ensure an adequately written contingency: Deadline for When the contingency Must be Met: For example, “February 15th, 2024”; Specific Terms: For example, “Seller

Dear Forms Committee: In OREF 054 – Agreement to Occupy After Closing, is day one considered the date of closing or the day after closing?

Dear Forms Committee: In OREF 054 – Agreement to Occupy After Closing, is day one considered the date of closing or the day after closing?

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Q: In OREF 054 – Agreement to Occupy After Closing, is day one considered the date of closing or the day after closing? A: When selecting the number of “days after closing” in section 2 of OREF 054 – Agreement to Occupy After Closing, since

Dear Forms Committee: Can you please help clarify if the seller is responsible for repairs proposed on the Seller’s Repair Addendum if the buyer did not accept it before the inspection deadline?

Dear Forms Committee: Can you please help clarify if the seller is responsible for repairs proposed on the Seller’s Repair Addendum if the buyer did not accept it before the inspection deadline?

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Q: Can you please help clarify if the seller is responsible for repairs proposed on the Seller’s Repair Addendum if the buyer did not accept it before the inspection deadline? In a situation where the buyer and seller agree to the provisions in the Property