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Category: Dear Forms Committee

Dear Forms Committee: A buyer has signed an exclusive Buyer Representation Agreement with agent 1 for one year and does not formally terminate the agreement…

Dear Forms Committee: A buyer has signed an exclusive Buyer Representation Agreement with agent 1 for one year and does not formally terminate the agreement…

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A buyer has signed an exclusive Buyer Representation Agreement with agent 1 for one year and does not formally terminate the agreement. Five months into the agreement, the buyer signs a new exclusive Buyer Representation Agreement with agent 2 and goes under contract on a property

Dear Forms Committee: What is considered an ‘extraordinary event’ in the OREF 096 – Extraordinary Event Addendum?

Dear Forms Committee: What is considered an ‘extraordinary event’ in the OREF 096 – Extraordinary Event Addendum?

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This form was created to allow the parties to have extra time to perform their obligations under the Sale Agreement due to significant events beyond their control. The form is not to be used for mere inconveniences, or when the parties could easily find a

Dear Forms Committee: Why are well tests not addressed on OREF 064 – Notice of Unconditional Disapproval?

Dear Forms Committee: Why are well tests not addressed on OREF 064 – Notice of Unconditional Disapproval?

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OREF 082 – Private Well Addendum does not allow unconditional disapproval of well test results. Instead, the buyer must show deficiencies in the system. Per Section 5, the buyer must provide the seller a notice of intent to declare termination (using OREF 109 – Notice

Dear Forms Committee: If the transaction doesn’t close by the closing deadline agreed upon due to the lender’s delay, who is entitled to the earnest money?

Dear Forms Committee: If the transaction doesn’t close by the closing deadline agreed upon due to the lender’s delay, who is entitled to the earnest money?

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In OREF 001 – Residential Sale Agreement, Section 33.2, item C states the seller is entitled to the earnest money if “Buyer fails to complete this transaction in accordance with the material terms of this Agreement.” Section 33.1, item C states the buyer is entitled

Dear Forms Committee: I need help understanding when to use different versions of the OREF Sale Agreements. Can you provide some insight?

Dear Forms Committee: I need help understanding when to use different versions of the OREF Sale Agreements. Can you provide some insight?

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The OREF 000 Guide to Using OREF Residential Library Forms is a great resource for this question! Here is a quick summary of the Sale Agreements available and the types of transactions they would typically be used for. All addenda in the OREF Residential Library

Dear Forms Committee: What if a buyer is unable to obtain homeowners insurance on a property they are purchasing?

Dear Forms Committee: What if a buyer is unable to obtain homeowners insurance on a property they are purchasing?

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The Insurance section of OREF Sale Agreements (for example, Section 9 of OREF 001 – Residential Sale Agreement) recommends that buyers promptly verify insurance availability and costs. Best practices for a buyer’s agent would be to remind buyers early on to secure insurance, and for

Dear Forms Committee: What is the difference between a fixture and personal property?

Dear Forms Committee: What is the difference between a fixture and personal property?

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All fixtures originate as personal property. They become fixtures after being brought to real property. To distinguish fixtures from personal property, consider the following criteria: Method of attachment: Is it affixed permanently using screws, bolts, or buried underground like utilities? Could it be easily be

Dear Forms Committee: What is the best way to determine who is responsible for paying any applicable HOA transfer fee?

Dear Forms Committee: What is the best way to determine who is responsible for paying any applicable HOA transfer fee?

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In many transactions, the HOA documents (CC&Rs or Bylaws) specify who is responsible for paying any applicable transfer fee.  Links to the CC&Rs and Bylaws are typically included in the Preliminary Title Report, although it may take some hunting through them to find the answer.