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Category: Dear Forms Committee

Dear Forms Committee: Can you please help clarify the purchase price when there are multiple counteroffers involved?

Dear Forms Committee: Can you please help clarify the purchase price when there are multiple counteroffers involved?

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Dear Forms Committee, In Seller’s Counteroffer No. 1, the seller countered the buyers’ offer with four items, including increasing the purchase price by $5,000. When the buyers countered back, they countered on three of the items but not the sales price. Since the buyers did

Dear Forms Committee: In the OREF Residential Sale Agreement, should lines 81 and 87 be checked/filled in if the seller provides financing?

Dear Forms Committee: In the OREF Residential Sale Agreement, should lines 81 and 87 be checked/filled in if the seller provides financing?

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No, Section 4.B does not apply in this situation, and those boxes should not be checked. Only Section 6 applies if the seller provides financing and no institutional lender is involved. All comments and responses from OREF or its staff, managers, and volunteers are non-legal

Dear Forms Committee: I would like some additional questions added to OREF 020-Seller’s Property Disclosure Statement – who can I send those to?

Dear Forms Committee: I would like some additional questions added to OREF 020-Seller’s Property Disclosure Statement – who can I send those to?

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The questions on OREF 020 – Sellers Property Disclosures are straight from a statute – ORS 105.464 – so they can only be changed by bills passed through both houses of the Oregon Legislature and signed by the governor. If you would like to suggest

Dear Forms Committee: I have a signed listing, but it is excluded from the MLS. The buyer’s agent and brokerage want some written confirmation of BAC from the seller. What is the best way to provide that?

Dear Forms Committee: I have a signed listing, but it is excluded from the MLS. The buyer’s agent and brokerage want some written confirmation of BAC from the seller. What is the best way to provide that?

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A multiple listing service is not just a detailed list of properties that are for sale.  Each brokerage that subscribes to an MLS promises to follow all MLS rules, including the rule that requires each subscribing brokerage to pay the Buyer’s Agent’s Commission to the

Dear Forms Committee: Why isn’t there an option for possession at recording in the OREF sale agreements?

Dear Forms Committee: Why isn’t there an option for possession at recording in the OREF sale agreements?

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  Since there is no consistent communication medium in every transaction, there is no way to contractually agree that all parties will be made aware of when recording occurs simultaneously. Parties can agree to this change in the “Additional Provisions” section if needed, but be

Dear Forms Committee: Are there different time periods for inspection contingencies and other types of due diligence contingencies in OREF C-501 – Commercial Sale Agreement?

Dear Forms Committee: Are there different time periods for inspection contingencies and other types of due diligence contingencies in OREF C-501 – Commercial Sale Agreement?

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In OREF C-501 – Commercial Sale Agreement, the inspection and due diligence period are the same. In Section 8 (lines 128-135), you will find that this period allows the buyer time to complete and review inspections, business documents, leases, and any other due diligence. In

Dear Forms Committee: If the septic tank pumping/cleaning and inspection happen on the same day, when does the 10-day inspection period start?

Dear Forms Committee: If the septic tank pumping/cleaning and inspection happen on the same day, when does the 10-day inspection period start?

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If the seller is performing pre-inspection services, under lines 30-32 of OREF 081 – Septic Onsite Sewage System Addendum, the buyer has ten days after the seller provides notice that the pre-inspection services are complete to conduct septic inspections and negotiations. The review period starts