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Fine Print

The Pliable Nature of Statistics: How Accurate Are Those Online Home Valuations?

THE PLIABLE NATURE OF STATISTICS:  HOW ACCURATE ARE THOSE ONLINE HOME VALUATIONS? “Facts are stubborn things, but statistics are pliable.”  Mark Twain used this phrase and others to emphasize the persuasive power of numbers and statistics.  While statistics can indeed be powerful and useful, they also can be misused and misleading.  Zillow, Redfin, Realtor.com, Homes.com, […]

New Regulations Reduces Residential Construction Costs

Question: I have friends and business associates who are looking to fix and flip (or fix and hold) residential rental properties in Oregon and can not obtain traditional bank financing. Is private money lending an option for these parties? Short Answer: Until recently, because of the nature of the property, this type of transaction would […]

Seller Financing Redux

Seller Financing Redux INTRODUCTION:  Oregon, as mandated by federal law, adopted legislation which, in connection with residential seller financed transactions, requires that the seller either obtain a mortgage loan originator (MLO) license, or retain the services of a licensed MLO to negotiate the financing terms.  Two previous Fine Print columns dealt with the initial adoption […]

Short Sale Stalled Due To A Judgment Lien?

SHORT SALE STALLED DUE TO A JUDGMENT LIEN? HOMESTEAD EXEMPTION MAY BE THE ANSWER! Question: I am a real estate broker and represent a homeowner trying to do a short sale as the home’s fair market value is less than the amount of the first position loan. An offer has come in, acceptable to the homeowner, […]

Relief To Homeowners From Potential Deficiency Claims

RELIEF TO HOMEOWNERS FROM POTENTIAL DEFICIENCY CLAIMS (AND SOME PITFALLS!) Question: I’m a homeowner facing foreclosure, and understand the law has changed regarding my lender’s rights to go after me for a deficiency claim. First, what the heck is a deficiency claim, and second, how has the law changed, and does it benefit me? Answer: […]

Winterization/De-Winterization – Who Pays?

WINTERIZATION/DE-WINTERIZATION Question: WHO PAYS? Answer/Senario: Seller and Buyer enter into the standard Residential Real Estate Sale Agreement (OREF 001). Seller has already winterized the home, but then voluntarily de-winterizes the home so that the Buyer can have an inspection done. Sale fails to close and Buyer seeks a return of the earnest money. Seller refuses to execute a […]

Sellers: Be Aware Of Title Insurance Which Protects Your Interests!

SELLERS: BE AWARE OF TITLE INSURANCE WHICH PROTECTS YOUR INTERESTS! Question: I am the seller in a real estate transaction. I know a title insurance policy will be issued in connection with the transaction, which I have to pay for. Does this also protect me? If not, is there anything I can do about it? Answer: Great […]

The New Three Transaction Exception In Oregon

THE NEW THREE TRANSACTION EXCEPTION IN OREGON FOR SELLER FINANCINGS: BE WARY! Question: I am a licensed real estate broker in Oregon, and am representing a seller of a single family rental property who is interested in offering seller financing. The client does not live in the property and has never lived in the property. […]

Fair Housing – No No Words/Phrases

Fair Housing – NO NO WORDS/PHRASES Question: I am an Oregon real estate broker. I read a recent article about a Florida real estate broker who was sued because of remarks in an MLS listing which violated the Fair Housing Act (FHA), and it wasn’t even the broker’s listing! Do I have the same exposure? […]

Further Reflections: Showing A Tenant Occupied Property

FURTHER REFLECTIONS: SHOWING A TENANT OCCUPIED PROPERTY Question: I am a licensed real estate broker and read with interest your last column on the showing of a tenant occupied property which is listed for sale. It raised a number of questions on my part: a. The MLSCO Listing Contract for Central Oregon provides that the […]

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