Feb 2023 Form of the Month – OREF 108 Advisory and Instructions Regarding Real Estate Purchase and Sale Forms

FORM OF THE MONTH

The notion of completing a real estate deal with a handshake may be an appealing dream, but Oregon law requires the transaction to be in writing. Understanding the different form options in the marketplace as well as the pitfalls of mixing different form types in the deal is critical.

Fortunately, OREF Form 108 has got you covered. This advisory summarizes the legal advice, form set options, and allows your client to clearly instruct you on their form preference for their real estate transaction.

Do you have an idea or suggestion for a new form or edits to existing forms? We want to hear from you! Submit your ideas to our Forms Committee here.

Always check with your principal broker or legal counsel to ensure that you are following any policy requirements of your brokerage. All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes. Each Forms subscriber must rely solely upon their Principal broker or personal legal counsel for specific advice and instruction. You and your client should independently confirm that the Form(s) you use are legally suitable for the purposes intended and that they are current with respect to all laws and regulations.