No one wants anything to go wrong with a commercial sale. In a perfect scenario, the documents are signed, and the property transfer occurs with everyone satisfied. But not every sale can be perfect. If you find yourself in an unfortunate situation where you and
In instances where the seller is not represented, there is no requirement for an agent to document delivery to the seller. Therefore, this line does not need to be filled in. But remember to use OREF 100 – Unrepresented Party Acknowledgement, to document the fact
According to Section 12 of OREF – 001 Residential Real Estate Sale Agreement, if the buyer checks the box for Licensed Professional Inspections or the box for Alternative Inspection Procedures (intending to use OREF – 058 Professional Inspection Addendum), then they have agreed to provide
First, check with your brokerage to see if they have a specific in-house form they would prefer you to use. If not, you can use OREF 091 – Notice of Real Estate Compensation. This form can be used as a written notice of compensation to
If the buyer’s purchase of the property is contingent upon the buyer obtaining funds from the sale of an existing property, the buyer should identify that contingency in Section 3 of the Sale Agreement. The buyer should also include OREF 083 – Buyer’s Contingent Right
In July, the U.S. Ninth Circuit Court (a Federal court with the power to interpret whether state court laws comply with the U.S. Constitution) decided that Oregon’s law prohibiting recording of conversations without the permission of one party (for phone conversations) or both parties (for other conversations)
There are several reasons that OREF has taken this approach when creating and revising our forms. The primary reason is that when a form refers to an agent, it means the licensee representing the client. As you know, that licensee can have one of
Oregon law requires that the seller have the well tested for arsenic, nitrates, and total coliform bacteria upon accepting an offer. If the buyer would like additional tests performed (such as flow test, lead test, etc.), the buyer can indicate the additional tests that the
Need a checklist to keep track of the basic due diligence items for your investment property? Form 070 is an addendum listing many of the inspections, tests, studies, reports, documents (and more) the buyer can request the seller provide. Do you have an idea or
The OREF Residential Real Estate Sale Agreement has a number of built-in contingencies: the receipt of contingent funds, if indicated in Section 3; the three financing contingencies, unless the transaction is all cash, or, if the seller finances the transaction, agreement on the financing documents;