Category: Dear Forms Committee

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

In Oregon (as in many other states): an offer can be withdrawn if it has not yet been accepted, the only thing required to withdraw an offer is to give notice of withdrawal, and notice can be written or verbal. Because an offer can usually

There should not be an automatic extension for every supplemental Preliminary Title Report. Often, a supplemental Preliminary Title Report may be issued only to correct the spelling of a name or to see if anything has changed, which should not extend the title contingency period. Instead,

Yes, the state of Oregon has not adopted all federal holidays. A list of state holidays can be found in ORS 187.010, and a list of federal holidays can be found here. You’ll notice the difference between these two lists (at the time this is