Category: Dear Forms Committee

Under the terms of the real estate sale agreement (see Section 16 of OREF – 001 Residential Sale Agreement), the buyer has five business days (unless the buyer has waived this right in writing) to revoke the buyer’s offer. This period begins after the effective date

The smoke/carbon monoxide detector section of the OREF Sale Agreements (Section 25 of OREF 001 Residential Sale Agreement) isn’t to instruct the parties about the required details for alarms and detectors. Rather, it serves to advise them that there are requirements. If you review OREF

Section 35 of OREF 001 Residential Real Estate Sale Agreement provides specific options for when the buyer will take possession of the property. Buyers and sellers can use the pre-printed options or add other terms to the Additional Provisions section. If the buyer and seller

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