Q: In Section 5(a) of the Buyer Representation Agreement, can I list an hourly rate and clarify in Additional Provisions that the fee is hourly, with the total due being calculated near closing? A: While there is nothing specific in the NAR Settlement Agreement prohibiting
Q: If my buyer has not waived the Lead-based Paint contingency and the seller delivers the LBP addendum 5 days after the Effective Date, when does the buyer’s ability to terminate based on the LBP contingency end? A: According to Section 15 – Lead-Based Paint
Q: As a means of delivering the required HOA documents to my buyer, the listing agent is providing a link to an HOA website with the seller’s username and password. My understanding is that this does not satisfy the documentation delivery requirement, which includes providing
Q: I’m preparing to list a vacant lot for sale. Is OREF 019—Vacant Land Disclosure required by statute? Should I have my seller complete it at the time of signing a listing so it’s ready for a potential buyer? A: A disclosure statement regarding vacant
Q: The Buyer Representation Agreement says the buyer will owe a fee to the buyer’s agent if, during the term of the agreement or within 60 days following expiration or termination of the agreement, the buyer enters into an Acquisition agreement due to the “efforts
Q: Since Section 2.2—Personal Property of the Sale Agreement includes a section for identifying personal property that will be transferred with the sale, why is there a Bill of Sale in our library? A: Section 2.2 – Personal Property in the Sale Agreement is typically
Q: I’m preparing to list a property with a certified woodstove in the house and a non-certified woodstove in a shop. Does the shop’s stove need to be removed since it’s not in the house? And, should I have the seller complete two of the
Q: I’ve heard that Oregon statute requires agents not to work outside their area of expertise. What does that mean? A: It means that all of an agent’s work must be performed in a competent manner. ORS 696.301(12) says that an agent’s license may be
Q: What is commission sharing, as opposed to the seller paying both their agent and the buyer’s agent? Isn’t it the same thing? A: Commission sharing, also known as cooperative compensation, means that one agent is being paid by a party to the transaction and