Category: Dear Forms Committee

The term “unconditional disapproval” is used many times throughout the OREF Sale Agreements. To disapprove of an item truly unconditionally (for example, verification of funds, condition of the property, etc.), the seller or buyer must disapprove of the item with no conditions attached. Perhaps the

No, the list of things that survive termination differs from those that survive closing. In the previous blog post on survival, we pointed out that one of the two types of obligations that survive closing includes those “…which, by their terms, can reasonably be expected

“Notice” is defined in the OREF Sale Agreement as a written statement delivered using the “Notification Method” described in the Miscellaneous section of the Sale Agreement. The written statement can be in any form that complies with the chosen Notification Method – addendum, email, even

Yes, if the addendum covers both the extension and the acceptance, and everyone signs and delivers it, you have a valid contract. Legally, any response to an offer that does not precisely match the terms of the offer is a counteroffer, even an extension of

Encroachments, liens, access problems, or CC&R limitations are a few examples of items that might be important to the buyer. The buyer is responsible for reviewing all items within the title report and objecting to any items within the timeframe specified in the sale agreement.

The OREF Sale Agreement doesn’t lock the parties into using certain forms, responses, and deadlines when one party is believed to be in default. OREF forms are straightforward: look at the Earnest Money provisions (Sections 32.1 and 32.2 of OREF-001). If the parties don’t agree

Question: What is the purpose of Sections 9 and 10 in the OREF Residential Sale Agreement if they don’t require anybody to do anything? OREF forms do more than specify rights and duties: they serve as a valuable guide for people entering into one of

Under Oregon law, a buyer’s agent may show properties in which their buyer is interested to other prospective buyers without breaching an affirmative duty to the buyer (see ORS 696.810(4)). It becomes more complicated if two buyers are interested in the same property. When an

Generally, the Sale Agreement is presumed to be fulfilled or” performed” at closing. This is because the seller has conveyed the property to the buyer at closing, and the buyer has paid the purchase price to the seller. Because the parties agreed that most of

Per Sections 5.1 and 5.2 of the OREF 001 – Residential Sale Agreement, the transaction is subject to the following: Buyer and property must qualify for the loan from the lender, the lender’s appraisal must not be less than the purchase price, and the buyer