Happy New Year!
Well, aren’t changes on our OREF forms ‘fun’! Here is a recap and clarification of the main changes. PLEASE review. There are many more changes, so BE SURE to sign up for one of the OREF form change classes we’ll have here on Friday or next Thursday. It’s important stuff.
- If you have personalized Zipform templates, you MUST update them with the new forms. It doesn’t happen automatically. Make this a goal this week (today would be good). The Windermere Templates have all been changed.
- If you have a listing and an offer comes in, be sure to see if it’s a 2014 or 2015 form. It’s ok if it’s a 2014, but timelines will be different.
- The mutual agreement date is going to be ‘gray’ until everyone gets on the same page. If in doubt, call me. But PLEASE send an email to the co-op broker on what the mutual agreement date is, and when the home inspection period ends. This should be standard procedure now.
- Mutual agreement is established when an offer (or counter) is ‘signed AND accepted’. Clarification: The phrase means you don’t have mutual agreement until the signed acceptance is received by the other party. That isn’t a change, but the ‘mutual agreement’ day may be calculated differently than in a 2014 form. Example: An offer with acceptance signatures dated 9:00 pm on Monday, but wasn’t transmitted to the other party until Tuesday, would have TUESDAY as Day Zero of mutual agreement. This of course means that to represent your client well, you need to transmit the signed acceptance as soon as possible (That isn’t a change), since the other party has the right to revoke their offer at any time prior to delivery.
- If the signature of acceptance occurs after the offer expires and the other party needs to mark the ‘agrees’ box and sign the acknowledgement, the same ‘signed and accepted’ will be in place. Example: Offer expires on Monday, Sellers sign agreement on Tuesday, Buyers mark ‘accepts’ and sign the acknowledgement section on Wednesday, and those signatures are transmitted back to seller on Thursday. THURSDAY would be ‘Day Zero’ – mutual agreement – when counting contingency dates. This is quite different than these ‘after offer expired’ situations have been handled in prior OREF forms. I agree with it, but it will be a change. I’m guessing you’ll have to discuss it with some co-op agents.
- Expiration of contingency periods (except Lead Paint) is no longer midnight, but at 5:00 pm on the final day of the contingency period. Again, this is a BIG change.
For your Blog:
They are going to take away my shower? Actually, no, but trends are that the shower enclosure is NOT going to be in many homes being built in 2015. Check out the other ‘must have / must nots’ in trends. http://goo.gl/lxb0cj
What would it be like to offer $70 million on a house….. and get outbid? I guess this just goes to show that some people have different objectives than most of us mere mortals. http://goo.gl/meaIQS
The Rise of Men Who Don’t Work. (And what they do instead). I’m not sure I want to know…. But this is interesting stuff. http://goo.gl/SXUw91
We’re #1 – We’re #1 – No, not the Ducks this time. Portland is the #1 place to move to! http://goo.gl/QSGErk
Megan: Price reduction! 1835 SE Lambert St. 5BD/3BA/3411SF. Open layout. On tour. $689,000
Linda: Price reduction! 11594 SE Highland Lp. 3BD/2.2BA/2873SF w/level yard & deck. On tour. $375,000
19940 SE High Ridge Ct. 3BD/2.1BA/3652SF w/1.25AC and bonus rm over garage. On tour. $525,000
Robin: House in Forest Heights. 4BD/2BA. Very private. Available about Feb. 1st. ~$699,000
House on SW 55th Ave. 3BD/2BA remodeled Ranch. Available in about a month. ~$425,000
10,000SF lot next to SW 55th house. Sold separately from house. Level lot. $TBD
Reuben: New construction in Foster-Powell area. 2000SF w/detached ADU. Avail in ~6 mos. ~$425,000
Needs and Wants:
Ron: In Eastmoreland/Alameda area. Arts & Crafts style; can be fixer. Buyer motivated. Up to $1.2 mil
Gary: Duplex-fourplex north of I-84 in NE. Up to $650,000
Daniette: Eastside preferred, w/good schools. 3 BD/1.5BA w/little backyard. Up to $400,000
Robin: Contemporary or Mid-century in Lake Oswego. Prefer Forest Hills schools. Up to $900,000
Eastmoreland area, newish construction, up to $700,000
Woodstock area, newer construction or remodeled. Up to $550,000
- American Home Shield performed 13 repairs in our clients’ homes last week and paid $1,389 in claims. Seven repairs were for plumbing, and three each were appliances and heating.
- Legal Holidays – January 19th and February 26th (office still open!)
- New Windermere Foundation cards. Your clients will receive the card if an additional $25.00 contribution is made on any transaction.
- 1-28 All Company Meeting @ MAC 1:00 to 3:00!
- 1-22 Charity Chow Down hosted by Peggy!!
- Strategies for Creating Habits (ATTACHED)
- Work Balance for Realtors. http://goo.gl/AvQW2Y
- Two Simple Branch Goals!
- 1-6 Computer Best Practices – We all need THAT 2:00 to 3:00 @ MO (ATTACHED)
- 1-9 OREF Form Changes Webinar with Phil Querin – 10:00 to 11:30 @ MO 1.5 CE
- 1-15 OREF Form Changes “Lunch and Learn” 12:30 to 2:00 @ MO 1CE (ATTACHED)
- 1-20 to 23 – 2015! Pro Start
- Drone photography – Ummmmmm……NO.
- Portland Odds of Selling (ATTACHED)
- OREF Form change highlights
Short term disability – Rosenbaum – Unum Rep. Kelly Christopherson