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Category: Tip of the Week

OREF 058: New Name, New Purpose

OREF 058: New Name, New Purpose

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OREF 058, formerly the Professional Inspection Addendum, has been converted to the Advisory Regarding Due Diligence, reflecting its primary role as a buyer advisory. Under OREF 001 – Residential Real Estate Sale Agreement, Section 12.2(a), buyers may conduct as many inspections as they choose during the inspection period,
Lead-Based Paint Addendum

Lead-Based Paint Addendum

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The language and compliance requirements contained in the Lead-Based Paint Disclosure Addendum are mandated by the EPA and are not tailored specifically to Oregon real estate practice. The EPA recently revised both the required disclosure language and related compliance obligations. Under the updated provisions, reflected
The Appraisal Contingency Only Exists If You Check the Box

The Appraisal Contingency Only Exists If You Check the Box

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In OREF 001 – Residential Real Estate Sale Agreement it’s important to remember that the failure to select either the yes or no box following the question in Section 3 – Financing Type, “Is this transaction contingent upon an appraisal?” will result in there being no appraisal contingency included as part of the transaction.  Agents should always check one of