Category: Tip of the Week

When completing the Property Condition at Possession section of the Sale Agreements, be clear and specific about the buyer’s expectations. Vague language, such as “Property to be professionally cleaned prior to closing,” can be interpreted in many ways. Instead, list exactly what should be cleaned.

There’s an important difference between a closing statement and a Closing Disclosure. Closing statements, issued by escrow to both buyer and seller, list all debits and credits from a transaction and show the amounts the parties owe or receive at closing. The Closing Disclosure, a

If a property has more than one septic tank or septic system, the buyer should include a separate OREF 081 – Septic/Onsite Sewage Addendum for each one. This allows each addendum to specify the services the buyer wants performed for that particular tank or system.

Attaching the Seller’s Property Disclosure Statement to the MLS listing does not count as delivery to the buyer. Under ORS 105.485, “The burden of proof of lawful delivery of a seller’s property disclosure statement and any amendment thereto is on the seller.” Making the document

OREF 081 – Septic/Onsite Sewage Addendum and OREF 082 – Private Well Addendum each have their own contingency with timelines that are separate from the Professional Inspection contingency. The timelines are detailed within those addenda. Section 12 of OREF 001 – Residential Real Estate Sale

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,