If a buyer or seller does not agree to an addendum presented to them, they simply do not sign it, and you can present another version to the other party for consideration. One common practice is to write ‘Rejected’ on the addendum and have your
If your buyer is concerned about drastic changes in interest rates, you may want to include a provision in the Additional Financing provisions that caps the rate at a level acceptable to the buyer. All comments and responses from OREF or its staff, managers, and
If a Buyer is looking for property in multiple areas throughout the state and working with a different agent in each area, each agent will want to specify in the Buyer Representation Agreement which specific area that agreement applies (or doesn’t apply) to. All comments
OREF 048 – Seller Contributions Addendum is now available to be used to negotiate seller-paid closing costs. While you can also use it to negotiate seller-paid buyer’s agent compensation, until the new NAR rules go into effect, you may not need it for that purpose.
When filling out OREF 020 – Seller’s Property Disclosure Statement, make sure the seller has remembered to indicate the number of pages attached on the last page of the form – even if the number is zero – so that readers know whether the version
Our new form, OREF 050A – Buyer Representation Agreement Addendum, can be used for modifying the terms of either OREF 050 – Buyer Representation Agreement – Exclusive or OREF 052 – Buyer Representation Agreement – Nonexclusive. All comments and responses from OREF or its staff,
OREF 023 – Notice of Completion of Repairs/Corrective Action has officially been retired. Sellers should now use OREF 110 – Notice from Seller to Buyer to notify the buyer once repairs are complete. All comments and responses from OREF or its staff, managers, and volunteers
Even if a transaction is excluded from requiring a Seller’s Property Disclosure Statement, the seller is still obligated to provide any information the seller has that is material to the transaction or property. All comments and responses from OREF or its staff, managers, and volunteers
If a property contains an Uncertified Woodstove/Wood-Burning fireplace insert, Oregon law generally requires the device to be removed and properly disposed of when the property is sold. If the buyer is accepting that responsibility, using line 30 in OREF – 046 Woodstove/Wood-Burning Fireplace Insert Addendum,
If your buyer or seller is unsure of the specific Smoke and Carbon Monoxide Alarm requirements, the local fire department is a great resource for them. All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes.