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Should Quit Claim Deeds Be Used For Non-Sale Transfers Of Real Estate?

hand-drawn hand writes a pen on paper. vector illustration

Quit Claim Deeds. I am often asked to prepare, or asked if it’s ok to use, quit claim deeds for transfers not involving the sale of real property such as transfers into a family trust, adding a new spouse to the title, moving investment property from personal ownership into an LLC or corporation. I almost never use quit claim deeds for these transactions …

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Are Home Inspections Confidential?

a magnifying glass hovering over the words inspection, centering on a house with the word home inside it

Inspections are not confidential. I am frequently asked about whether buyers should (or are required to) release home inspections to sellers when no repairs are requested and, if released to the seller, whether the seller can then release the inspection report to a later buyer. In terms of buyer to seller, the OREF residential contract requires release of the home inspection if …

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Who Is Responsible For The Tenant In A Home Sale?

tenant word on concrete wall

You have a nice couple who offer to purchase a house belonging to a couple looking to downsize. You write the offer and it’s accepted.  At the inspection you get to meet the sellers’ daughter who is staying in the parent’s guest room. Inspection is good. Closing approaches. Have you guessed the issue yet?  The listing agent calls to state …

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Adding Rooms Or Bathrooms To Your Oregon Home Must Be Permitted

building permit

I met with a client today who was purchasing a property with four bedrooms and 2 bathrooms.  He had questions regarding building codes and permits. In the course of talking to him, I checked the county record for the property and discovered that the assessor thought the property had two bedrooms and 1 bath.  Oops. The second bath and additional …

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3 Examples Of Drafting Errors In Real Estate Repair Addendums

cartoon repairman

Be as clear as possible when writing up your repair addendums. Here are 3 examples from a repair addendum: 1. A licensed and bonded woodstove/chimney contractor to remove and replace woodstove. My response: The same woodstove or a new one?  2.  A licensed and bonded electrician to repair amp panel so that service wire size coming into the panel is compatible with the amp …

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Real Estate Agents: Get Principal Broker Approval Before Transferring Your Listings

real estate listing with lockbox and keys

There is a rumor going around some brokerages that a listing agent who is transferring his/her license can terminate listings without the principal broker’s approval.  This is not true. When an agent takes a listing, he or she is doing so for the principal broker/brokerage.  We don’t often think about it this way but, like the relationship between the listing agent …

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Avoiding “Interference With Prospective Advantage” Between Partners

two partners disagreeing

Two partners make an offer to purchase a property which is accepted.  One of the partners is not taking all of his medication and the partners are disagreeing. First, the partners are going to purchase together, then only Partner 1, then only Partner 2.  At some point in the chaos, the listing agent has the seller enter into a back up purchase agreement with …

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3 Truisms Real Estate Agents Should Know

basement

There are some assumptions in life that real estate agents should not ignore.  If I had a dollar for every time a buyer wanted me to sue the seller because the buyer’s new home smells of pet urine, I could retire. From now on, please take the following facts as true and advise your client accordingly. If there are pets, there is pet urine …

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4 Questions To Ask Before Referring A Water Intrusion Case To A Lawyer

Damage caused by damp and moisture on a ceiling (water)

Not only is it that time of year but this has been a record year for rainfall, so I am swamped (pun intended) with failure-to-disclose-water-intrusion cases. If your client is asking for a referral due to water intrusion, here are the questions to ask before passing them to a lawyer. The standard for disclosure is actual knowledge.  Do you have evidence that the seller …

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How Real Estate Agents Can Avoid “Lockbox Liability”

real estate lock box

Here are three scenarios involving use and access through a lockbox which might land you in trouble: You represent the buyer. The inspection is set. The buyer can’t attend (foolish buyer).  You let the home inspector in and leave. You represent the buyer, the house is vacant and the buyer wants to walk Mom through while she is visiting so you let the buyer in. …

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