Received an offer for your client? A careful review ahead of time can prevent problems later. Here is a list of items to look for to help protect your seller, demonstrate your expertise, and set the stage for a smooth transaction. 10 Things to Look
Before listing a property, it is helpful to review the sale agreement likely to be used. Each is tailored to a specific property type, so knowing the terms that will be negotiated boosts your professionalism when offers come in. To learn more about the details
Remember, when a real estate agent is buying or selling their own property, the Oregon Real Estate Agency’s rules require the agent to disclose their licensed status across all advertising and in the first written agreement. This rule also applies if a business entity is
When working with agents from outside Oregon, remember that real estate rules vary widely, even within the same state. Always verify local requirements, and don’t assume what works elsewhere will work in your market. If in doubt, check with your managing principal broker or legal
When listing a property, confirm the seller understands FIRPTA and whether they’re considered a “foreign person.” Buyers should also be aware of potential financial consequences if the seller is determined to be a foreign person. OREF 092 – Advisory Regarding FIRPTA helps both parties make
Make sure to properly document the reason for terminating a transaction. Most termination reasons are covered by OREF 109 – Notice from Buyer to Seller and OREF 064 – Buyer’s Notice of Unconditional Disapproval. If the termination is based on the Seller’s Property Disclosure Statement,
Do you know that a big part of the reason a buyer or seller hires you is your negotiating skills? Your ability to get them the price and terms they want in their transaction is incredibly important. The better your negotiating skills, the more likely
Title and escrow companies offer real estate agents many services beyond just title and escrow. They can do radius searches around a specific property to gather addresses for mailings, provide open-house registration forms, identify properties in pre-foreclosure, and much more. Give your favorite escrow officer
If your buyer is interested in purchasing property under a lease option agreement, remember that OREF offers OREF 085 – Option Agreement. This form, combined with the appropriate real estate sale agreement and a lease agreement, provides the tools necessary to tie the documents together
Remember that OREF provides a referral fee agreement. If you refer a buyer or seller to another agent and expect to receive compensation for that referral, it’s always best to have the arrangement in writing. OREF 107—Referral Fee Agreement is the perfect solution! All comments