Tag: Dear Forms Committee

Q: I represent the seller in the sale of a residential property that includes a well supplying groundwater for domestic purposes.  In accordance with Oregon law, the seller has had the water quality tested for nitrates, arsenic, and total coliform bacteria.  The test results show

Q: My seller has just received an offer on their home. In reviewing the terms of the offer, the seller has a question about Section 18, Seller Representations. In reviewing items (a) – (g) the seller discovered that item (f) is inaccurate. They are aware

  Q: I represent a seller who has received a cash offer. The buyer has indicated in Section 5 that they will provide the verification of funds within 3 business days of the Effective Date. The seller is concerned about taking their property off the

Q: I represent a homebuyer on an offer the seller has accepted. We agreed to the Licensed Professional Inspections section of OREF 001– Residential Real Estate Sale Agreement and are currently within the ten-business-day inspection period. Today is day nine. I delivered to the seller’s

Q: I’m preparing an offer for a buyer on a home where the assessor’s office shows a tax assessment of $32 per year for a special fire district. Should I mark the ‘is’ box in section 42 of the Sale Agreement, Levy of Additional Property

Q: I currently have an active listing – we have not yet received an offer. The seller has received notice of a pending assessment to be levied by their neighborhood HOA. Accordingly, the seller has disclosed this fact under question 7D of OREF 020 –

Q: How do I make sure the Buyer Representation Agreement clearly outlines that if a seller agrees to cover the fee in a Sale Agreement, that the buyer does not have to pay it? A: Page 1, section 4 of both versions of the OREF

Q: Do I need to disclose the existence of dual agency if I have two buyers looking for a similar property in the same area? A: Under Oregon law, a buyer’s agent may show properties which their buyer may be interested in to other prospective

Q: A listing agent is requesting a copy of my Buyer Representation Agreement. Am I required to provide it? A: Buyers’ agents owe a duty of confidentiality to their buyers. A contract between the buyer and buyer’s agent is a confidential agreement between those parties,

Q: I see references in the OREF forms to “material terms” or “material breach.” what does “material” mean in determining whether something is considered “material” or not? A: A material term is a provision that relates to significant terms of the agreement, such as price,