When Does The OREF Sale Agreement Become Contractually Binding?
February 22, 2020 by Phil Querin
Introduction. This question is important for at least two reasons:
It determines the time after which neither party can withdraw from the transaction without facing legal consequences; and
It determines the time from which events, such as contingencies, begin and end.
Section 32 [...]Continue reading “When Does The OREF Sale Agreement Become Contractually Binding?” »
Posted in Broker Risk Management, Miscellany, News You Can Use, Oregon Law, Real Estate General, Real Estate Laws, Realtor Risk Management, Realtors, Residential Housiing | Tagged Real Estate, RealtorsWhy Oregon Realtors Should Get Out Of The FIRPTA Business
July 27, 2019 by Phil Querin
FIRPTA and Buyer Liability. Until the last few years, the Foreign Investment in Real Property Tax Act of 1980 ("FIRPTA") was just an arcane acronym; most residential real estate brokers had no knowledge of what it stood for, what it was, or how it worked. Fewer cared. After all, they had never [...]Continue reading “Why Oregon Realtors Should Get Out Of The FIRPTA Business” »
Posted in Escrow, Miscellany, Realtor Risk Management, Realtors, Tax Issues, Title Insurance | Tagged Realtors, Title InsuranceWho’s Going To Review Your Preliminary Title Report Before Closing?
July 20, 2019 by Phil Querin
In residential real estate transactions, there are two basic forms of policies:
The Owner’s Policy. This is the standard policy of title insurance that buyers obtain upon closing. In Oregon, customary practice is that sellers pay for this policy.
The Lender’s Policy. This is the [...]Continue reading “Who’s Going To Review Your Preliminary Title Report Before Closing?” »
Posted in Miscellany, News You Can Use, Querin Law Legal Services, Real Estate General, Real Estate Laws, Realtors, Residential Housiing, Title Insurance | Tagged Real Estate, Title InsuranceLandlord Guidance Under Portland’s Additional Renter Protections
July 4, 2019 by Phil Querin
Discussion: The Portland Ordinance, 30.01.085 (“Portland Renter Additional Protections”) here, now in effect, has identified the occurrence of certain events that, if triggered, would require landlords to pay Relocation Assistance (“RA”) to tenants. [References below to the “Ordinance” [...]Continue reading “Landlord Guidance Under Portland’s Additional Renter Protections” »
Posted in Landlord-Tenant Laws, Miscellany, News You Can Use, Real Estate Laws, Realtor Risk Management, Rent Control | Tagged Real Estate, RealtorsInependent Contractor Resources For Realtors
May 30, 2019 by Phil Querin
From the IRS
“It is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors.
Generally, you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to [...]Continue reading “Inependent Contractor Resources For Realtors” »
Posted in Legislation - Federal, Legislation - Oregon, Miscellany, Real Estate Laws, Realtor Risk Management, Realtors, Tax Issues | Tagged Realtors, TaxesOregon Contract Law: Offers, Counteroffers, And Their Withdrawal
May 27, 2019 by Phil Querin
Generally. In its most basic sense, the OREF Sale Agreement is an offer to purchase property; it describes the price and terms of sale, the contingencies, the closing process, and the closing date. Once signed by seller and buyer, the document is delivered to escrow and, in most cases, the [...]Continue reading “Oregon Contract Law: Offers, Counteroffers, And Their Withdrawal” »
Posted in Broker Risk Management, Miscellany, Oregon Law, Real Estate General, Real Estate Laws, Realtor Risk Management, Realtors | Tagged Oregon Law, Real Estate, RealtorsReal Estate Professionals and the Qualified Business Income Rule
January 26, 2019 by Phil Querin
On January 18/22, the Treasury Department and the Internal Revenue Service issued their final regulations regarding the new 20 percent deduction on qualified business income created by the 2017 Tax Cuts and Jobs Act. Until the regs were finally published, there had been uncertainty about the [...]Continue reading “Real Estate Professionals and the Qualified Business Income Rule” »
Posted in Broker Risk Management, Legislation - Federal, Miscellany, Realtor Risk Management, Tax Issues | Tagged Real Estate, Realtors, TaxesQ-Rant! Ted Wheeler Is Looking Through The Wrong End Of The Telescope!
July 14, 2018 by Phil Querin
According to Mayor Wheeler in a recent interview with the Oregonian ("Half the arrests in Portland last year were of homeless people. Mayor Ted Wheeler says that’s a problem"), the fact that the homeless accounted for one-half of the Portland arrests last year, was likely due to "profiling or [...]Continue reading “Q-Rant! Ted Wheeler Is Looking Through The Wrong End Of The Telescope!” »
Posted in Q-RantsWhy Oregon Homebuyers Should Shop Their Loans Before Going Under Contract
July 8, 2018 by Phil Querin
A few years ago, before the real estate market got crazy hot (and before we changed the OREF Sale Agreement form), it wa not unusual for a buyer to submit their preapproval letter to their seller, go under contract, and then try to find other lenders who might offer better rates or terms.
But in [...]Continue reading “Why Oregon Homebuyers Should Shop Their Loans Before Going Under Contract” »
Posted in Broker Risk Management, Dodd-Frank, Legislation - Federal, Market Conditions, Miscellany, Real Estate General, Real Estate Laws, Realtor Risk Management | Tagged Dodd-Frank, Market ConditionsQ-Rant! College Grades: So Much For The Bell Curve….
July 3, 2018 by Phil Querin
In a recent Wall Street Journal article, we learn that having exotic Latin honors after your degree isn't quite as rare as it used to be. The problem isn't the honors bestowed, it's the GPAs handed out like party favors. And what's more, at the prestigious University of Chicago, they are no [...]Continue reading “Q-Rant! College Grades: So Much For The Bell Curve….” »
Posted in Education, Q-Rants | Tagged Education
