The insurance provision in the OREF Sale Agreements is an advisory, not a contingency. If the purchase is being financed, the lender will require property insurance, and not getting insurance would mean failure of the financing contingency. If there is no lender, insurance coverage would
Remember that according to the way Notices are defined in the Miscellaneous section of the OREF Sale Agreements, whenever a document is delivered to you, it is also considered to have been delivered to your client. Therefore, you should immediately deliver everything you receive to
Q: In OREF 054 – Agreement to Occupy After Closing, I’m confused about how to count the number of days of occupancy. On line 14, we filled in that occupancy is to be for five calendar days after closing. Line 13 says the seller’s occupancy
Keep in mind that the termination provisions included in OREF 082 – Private Well Addendum and OREF 081 – Septic/Onsite Sewage Addendum do not provide for unconditional disapproval. In both addenda, before they can terminate the transaction, the buyer must provide to the seller a
Inspections done, concerns noted… now what? That’s where OREF C-526 and C-527 come into play—two powerful tools that keep real estate transactions on track when repairs are part of the picture. Whether you’re representing a buyer asking for repairs or a seller deciding how to
Q: I represent a buyer interested in purchasing an apartment complex containing 15-25 units. Do I need a Buyer Representation Agreement in place before I begin working with this buyer? A: Most of the Oregon laws regarding Buyer Representation Agreements and most of the rules
Q: My seller has indicated to me at the time of listing the property that they’re willing to allow part of my compensation to he shared with the buyer’s agent. Why isn’t there a place to enter this amount in OREF 015 – Listing Agreement?
Remember that ORS 105.465(2) says the “seller” must complete the Seller’s Property Disclosure Statement, not their agent. The seller’s agent can offer clarification if the seller has any questions, but should not answer the questions on the seller’s behalf. All comments and responses from OREF
When it comes to purchasing investment property, understanding the fine print can make all the difference—especially when leases are involved. That’s where OREF 073 + OREF C-520 – Assignment and Assumption of Leases step in. This essential form ensures a clear and documented transfer
When preparing an offer, always confirm you’re using the Oregon Real Estate Forms (OREF) Sale Agreement tailored to the specific type of property you’re selling. For example, if you’re writing an offer for vacant land, ensure you use OREF 008 – Vacant Land Sale Agreement.