Category: Dear Forms Committee

  Q: My buyer has questions regarding the preliminary title report they just received and title insurance in general. I also struggle with fully understanding and explaining title reports and title insurance. Does OREF have any tools to help us with this? A: Most people,

Q: I represent the seller in a pending sale. Both parties have signed the closing documents, and everything is ready, with funding as the only step remaining. The seller has just informed me that they have changed their mind and no longer wish to proceed

Q: I represent the buyer in a pending sale. The original offer requested $8,000 in seller-paid closing costs, but the seller’s counteroffer reduced that amount to $6,000, which my buyer accepted. Now the seller has agreed to pay the full $8,000 so the buyer can

Q: I represent the buyer in a pending sale. The lender did not send the funds to escrow, and we need a four-day extension to close. The seller has agreed to the extension only if they receive $250 per day for each day past the

Q: My buyer needs help paying the closing costs associated with their loan. When writing up their offer, they’ve asked that in Section 4 – Seller Contributions, item (b) Closing Costs, I check the second box and put 100% in the blank. They’d like the

Q: As a buyer’s agent, which documents from the buyer’s purchase should I send to the lender? A: Each lender has its own requirements, so always confirm directly with the lender what they need. As a general rule, you should provide all contractual documents between

Q: I’m preparing to list a home built in 1981, so the lead-based paint disclosure rules don’t apply. However, the shop was built in 1975. Should I ask the seller to complete OREF 021 - Lead-Based Paint Disclosure Addendum for the shop? A: The Lead-Based

Q: A seller I am representing just accepted an offer on their property. I’m looking for a form to comply with Section 22 Smart Home Features. Why can’t I find a form listing all of the smart home features so the seller can indicate which

Q: I represent the seller in a pending transaction. The inspection period ended yesterday (per Section 12(a) of the Sale Agreement), but today the buyer’s agent sent over a signed copy of OREF 064 – Notice of Unconditional Disapproval and OREF 057 – Termination Agreement.

Q: My seller mistakenly checked the rejection box on the Sale Agreement, but sent a counteroffer that the buyer accepted. We’re now a week into the transaction, and the Principal Broker noticed the error. What is the best way to correct this? A: Based on