Tag: Tip of the Week

Seller’s Property Disclosure Statement. Users can help sellers understand the questions, but must not help answer them or fill out the form. Agents expose themselves to liability for inaccurate statements when they participate in filling out the form. When representing the seller, be sure to

Well and septic system inspections have timelines different from the standard inspection period. It’s important to review the details in OREF 081—Septic/Onsite Sewage System Addendum and OREF 082—Private Well Addendum and ensure they are included in your transaction if they apply. All comments and responses

In addition to using OREF 102 – Advisory to Buyer Recording Devices May Be Present, it’s a good idea to remind your buyer regularly to hold off on any conversations while still on the property. All comments and responses from OREF or its staff, managers,

Encourage your buyer to discuss their Buyer Representation Agreement with their lender as early as possible. Addressing key considerations with the lender upfront can help streamline the process and avoid potential delays. All comments and responses from OREF or its staff, managers, and volunteers are

When drafting an Addendum to the Sale Agreement, using “Agreement” or “Sale Agreement” to refer to the Sale Agreement will clarify which document you are referring to. Using “Contract” or “PSA” can create ambiguity and confusion between the parties. All comments and responses from OREF

If the buyer would like to ensure specific personal property is included in the sale, those items should be documented in the Sale Agreement for clarity and transparency. Remember, MLS printouts or marketing materials are for informational purposes and are not considered part of the

Anytime you see a word capitalized in any OREF form, there is a definition for that term (unless, of course, it is the first word of a sentence or a proper noun). The definition can be found either in the section where it is used

Do you have a client who is visually impaired?  The OREF Residential Library is now available as large font sample files on our website at: orefonline.com/largefont. All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes.

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