Category: Tip of the Week

Part of the requirement of OREF 082 – Private Well Addendum, Section 3, and compliance with ORS 448.271 is that the seller submit the well water quality test results to the Oregon Health Authority within 90 days of receiving them. To assist their seller with

Including more than one agent in a Listing Agreement or Buyer Representation Agreement is a serious decision that can create complications. You’ll need to determine whether the commission will be divided, which parts of the agreement apply to each agent, and what obligations each agent

As a courtesy to other agents, unless your seller has instructed you not to, let the showing agent know if you’ve already received a written offer or if the seller has accepted one. Nothing is more disappointing than showing a home to buyers who fall

For the third exclusion to apply under Section 1 of OREF 020 – Seller's Property Disclosure Statement, the seller must be a court-appointed trustee. The trustee of a family or living trust is not appointed by a court, and therefore not exempt from providing the

Only the written terms in the Sale Agreement, including counteroffers and addenda, are legally enforceable. Verbal agreements aren’t binding and can lead to legal disputes. Remind clients not to make verbal promises without involving you in documenting them properly. Agents must avoid relying on emails,

OREF 009 – Back-up Offer Addendum should be used as part of a counteroffer whenever a seller considers accepting a second offer while already under contract. It helps protect the seller from “double jeopardy” (agreeing to sell the same property to two buyers), and it

The Seller’s opportunity to object to the escrow company the buyer wishes to use is at the time they receive the offer. If the seller prefers a different company, they should include the company they wish to use in OREF 003 – Seller’s Counteroffer. Failure

Section 32 of OREF 001 – Residential Real Estate Sale Agreement includes provisions identifying the circumstances that would have to apply for the buyer to be entitled to a refund of their earnest money, and the circumstances that would have to apply for the seller

The insurance provision in the OREF Sale Agreements is an advisory, not a contingency. If the purchase is being financed, the lender will require property insurance, and not getting insurance would mean failure of the financing contingency. If there is no lender, insurance coverage would

Remember that according to the way Notices are defined in the Miscellaneous section of the OREF Sale Agreements, whenever a document is delivered to you, it is also considered to have been delivered to your client. Therefore, you should immediately deliver everything you receive to