Category Archives: Realtor Risk Management

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Buyer Beware: Limitations In Residential Inspection Reports

Posted on by Phil Querin

Limitations in Home Inspection Reports. Home inspectors and home inspection reports are an essential part of the standard due diligence protocols of most homebuyers today. And while these reports are generally very good, they are not the equivalent of insurance. The concept behind insurance is that if a loss occurs, the insurer covers it. Not […]

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Posted in Miscellany, Professional Inspection, Property Disclosure, Real Estate General, Real Estate Laws, Realtor Risk Management, Realtors, Residential Housiing | Tagged

Mortgage Professor: “Daily Interest: A Festering Sore in Consumer Loan Markets”

Posted on by Phil Querin

[Jack M.Guttentag is Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania and author of The Mortgage Encyclopedia. Throughout his career, Professor Guttentag has been concerned with the difficulties faced by consumers in the home loan market.] Question: What do home mortgage loans including second mortgage loans, retail installment loans, automobile loans, home improvement […]

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State Tax Withholding For Nonresident Sellers of Oregon Real Property

Posted on by Phil Querin

See: ORS 314.258 and Oregon Administrative Rule 150-314-258. Escrow companies are required to withhold a portion of a non-resident seller’s net proceeds from the sale of Oregon real property for transmittal to the Oregon Department of Revenue. As a result, at the time of closing, all sellers of Oregon property are asked to provide escrow […]

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Posted in Miscellany, Real Estate Laws, Realtor Risk Management, Realtors, Tax Issues

Mortgage Professor: “Home Ownership Is Not For Everyone”

Posted on by Phil Querin

[Jack M.Guttentag is Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania and author of The Mortgage Encyclopedia. Throughout his career, Professor Guttentag has been concerned with the difficulties faced by consumers in the home loan market.] The homeownership rate has been increasing recently following more than 10 years of decline.  According to […]

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Posted in Miscellany, News You Can Use, Realtor Risk Management

Why Oregon Homebuyers Should Shop Their Loans Before Going Under Contract

Posted on 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 […]

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Posted in Broker Risk Management, Dodd-Frank, Legislation - Federal, Market Conditions, Miscellany, Real Estate General, Real Estate Laws, Realtor Risk Management | Tagged ,

Procuring Cause – A Primer for Realtors

Posted on by Phil Querin

The “procuring cause” rule is simple in theory, but complicated in application. It is used to determine a buyer broker’s entitlement to the “offer of compensation” (i.e. a percentage share of  the commission offered by the listing broker on the multiple listing service). All Realtors must publish an “offer of compensation” in their listings, so that other members […]

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Mortgages, Trust Deeds, Land Sale Contracts, and Their Foreclosure

Posted on by Phil Querin

Mortgages. ORS 86.010 to 86.275 generally address the rights and duties of lenders and borrowers owning land secured by a mortgage.  The process of foreclosing a mortgage is set forth in ORS Chapter 88. The process of executing on a residential property is controlled by ORS 18.901 – 18.982.  Under these statutes, the main features […]

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Posted in Miscellany, Real Estate General, Real Estate Laws, Real Estate/Commercial, Realtor Risk Management, Realtors, Trust Deeds | Tagged

Oregon’s Environmental and Health Laws

Posted on by Phil Querin

Carbon Monoxide Alarms. Residential Landlord-Tenant ORS 90.316 Carbon monoxide alarm defined; ORS 90.317 Repair or replacement of carbon monoxide alarms; ORS 90.320 Landlord’s habitability obligations include a functioning carbon monoxide alarm if the premises includes a carbon monoxide source; ORS 90.325 Requires tenant to replace batteries as need; prohibits tampering. Residential Sales ORS 105.464 requires […]

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Posted in Environmental, Miscellany, Realtor Risk Management, Realtors | Tagged ,

The FIRPTA Affidavit Form

Posted on by Phil Querin

    AFFIDAVIT OF NON-FOREIGN STATUS [This Affidavit should only be used in sale transactions being closed by escrow.] Internal Revenue Code Section 1445[1] provides that under certain circumstances, a transferee (hereinafter “Buyer”)[2] of an interest in real property located in the United States (“U.S Property”) is legally responsible to deduct, withhold, and transmit to […]

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Posted in FIRPTA, Miscellany, Real Estate General, Real Estate Laws, Real Estate/Commercial, Realtor Risk Management, Tax Issues

Q-Law Legal Services 2018

Posted on by Phil Querin

The following list of documents and disputes span over four decades of  my real estate legal practice. (See, SuperLawyers link here and personal bio here.) The list was created in minutes – just off the top of my head.  There are probably more lurking around. And the great thing about being a litigator and transactional attorney […]

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Posted in Miscellany, News You Can Use, Realtor Risk Management
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