Category: Tip of the Week

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.

When using OREF 022A & 022B – Buyer and Seller Repair Addenda, remember that when the buyer or seller rejects a repair addendum and proposes another repair addendum – any terms on the previous request no longer apply. The new repair addendum should include all

If a buyer is purchasing a property that is currently being used as, has previously been used as, or will in the future be used as a rental – include OREF 070 – Investment Property Addendum in the transaction to allow the buyer to create

The Closing Deadline in the OREF Sale Agreements is the final date by which closing must take place. Parties can opt to close earlier by notifying escrow. However, if an extension is necessary for any reason, such as accounting for a holiday, the parties must

Sellers should thoroughly review the Seller Representations section of the sale agreement. If any information is inaccurate, the seller should provide the necessary corrections in an addendum or counteroffer. All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made

If any revisions need to be made to a document after it has been agreed to by all parties, those revisions should be made on a separate document signed by all parties. No changes or alterations are permitted to any portion of the pre-printed format