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Category: Dear Forms Committee

Dear Forms Committee: Why don’t the OREF Sale Agreements state the exact requirements for smoke and carbon monoxide detectors?

Dear Forms Committee: Why don’t the OREF Sale Agreements state the exact requirements for smoke and carbon monoxide detectors?

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The smoke/carbon monoxide detector section of the OREF Sale Agreements (Section 19 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

Dear Forms Committee: Does the OREF Sale Agreement state that the buyer gets possession of the property once the deed is recorded?

Dear Forms Committee: Does the OREF Sale Agreement state that the buyer gets possession of the property once the deed is recorded?

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Section 31.1 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

Dear Forms Committee: What does “unconditional disapproval” mean in the OREF Sale Agreements?

Dear Forms Committee: What does “unconditional disapproval” mean in the OREF Sale Agreements?

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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

Dear Forms Committee: Do the same obligations survive termination that survive closing? What about earnest money?

Dear Forms Committee: Do the same obligations survive termination that survive closing? What about earnest money?

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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

Dear Forms Committee: If the seller would like to accept an offer after the offer expiration, is a standard addendum sufficient to extend the offer expiration date?

Dear Forms Committee: If the seller would like to accept an offer after the offer expiration, is a standard addendum sufficient to extend the offer expiration date?

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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

Dear Forms Committee: What happens if one party believes the other party is in default under the terms of the OREF Sale Agreement?

Dear Forms Committee: What happens if one party believes the other party is in default under the terms of the OREF Sale Agreement?

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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 28.2 and 28.3 of OREF-001). If the parties don’t agree

Dear Forms Committee: What is the purpose of Sections 7.1 and 7.2 in the OREF Residential Sale Agreement if they don’t require anybody to do anything?

Dear Forms Committee: What is the purpose of Sections 7.1 and 7.2 in the OREF Residential Sale Agreement if they don’t require anybody to do anything?

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OREF forms do more than specify rights and duties: they serve as a valuable guide for people entering into one of the most important contracts of their lifetime. In pursuit of that goal, several provisions of the Sale Agreement remind the parties of essential things

Dear Forms Committee: Do I need to disclose dual agency if I have two buyers looking for a similar property in the same area?

Dear Forms Committee: Do I need to disclose dual agency if I have two buyers looking for a similar property in the same area?

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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