Tag: Dear Forms Committee

The OREF Sale Agreement doesn’t lock the parties into using certain forms, responses, and deadlines when one party is believed to be in default. OREF forms are straightforward: look at the Earnest Money provisions (Sections 32.1 and 32.2 of OREF-001). If the parties don’t agree

Question: What is the purpose of Sections 9 and 10 in the OREF Residential Sale Agreement if they don’t require anybody to do anything? OREF forms do more than specify rights and duties: they serve as a valuable guide for people entering into one of

Under Oregon law, a buyer’s agent may show properties in which their buyer is interested to other prospective buyers without breaching an affirmative duty to the buyer (see ORS 696.810(4)). It becomes more complicated if two buyers are interested in the same property. When an

Generally, the Sale Agreement is presumed to be fulfilled or” performed” at closing. This is because the seller has conveyed the property to the buyer at closing, and the buyer has paid the purchase price to the seller. Because the parties agreed that most of

Per Sections 5.1 and 5.2 of the OREF 001 – Residential Sale Agreement, the transaction is subject to the following: Buyer and property must qualify for the loan from the lender, the lender’s appraisal must not be less than the purchase price, and the buyer

In Oregon (as in many other states): an offer can be withdrawn if it has not yet been accepted, the only thing required to withdraw an offer is to give notice of withdrawal, and notice can be written or verbal. Because an offer can usually

There should not be an automatic extension for every supplemental Preliminary Title Report. Often, a supplemental Preliminary Title Report may be issued only to correct the spelling of a name or to see if anything has changed, which should not extend the title contingency period. Instead,

Yes, the state of Oregon has not adopted all federal holidays. A list of state holidays can be found in ORS 187.010, and a list of federal holidays can be found here. You’ll notice the difference between these two lists (at the time this is

Federal law states that a buyer cannot be obligated to purchase a home built before 1978 unless (1) the seller has delivered to the buyer the pamphlet “Protect Your Family From Lead in Your Home” and (2) the seller has disclosed to the buyer (the buyer’s agent) all

The Seller's Property Disclosure Statement is a statutory form, and the legislature wrote the questions contained on it in ORS 105.464. As long as the SPDS form provided meets these requirements, requesting a different version of the form to match the transaction library selected should not