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
Keep in mind that the termination provisions included in OREF 082 – Private Well Addendum and OREF 081 – Septic/Onsite Sewage Addendum do not provide for unconditional disapproval. In both addenda, before they can terminate the transaction, the buyer must provide to the seller a
Remember that ORS 105.465(2) says the “seller” must complete the Seller’s Property Disclosure Statement, not their agent. The seller’s agent can offer clarification if the seller has any questions, but should not answer the questions on the seller’s behalf. All comments and responses from OREF
When preparing an offer, always confirm you’re using the Oregon Real Estate Forms (OREF) Sale Agreement tailored to the specific type of property you’re selling. For example, if you’re writing an offer for vacant land, ensure you use OREF 008 – Vacant Land Sale Agreement.
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