What should be a positive event for all involved can turn into a very unpleasant experience if all parties are not prepared. This course will review issues typically arising in a residential real estate transaction from inception through closing, current laws, the usual forms and customary practices and procedures.
- The real estate sale agreement
- Title insurance issues
- Condominiums and homeowners' associations
- Construction liens
9:00 a.m. - 10:10 a.m.
I. The Real Estate Sale
A. What It Is, What It Isn't
B. Important Provisions
D. Alternative Dispute Resolution
II. Role Of The Real Estate Agent
A. Agency And Fiduciary Duty Issues
B. Unauthorized Practice Of Law Issues
C. Drafting Of Provisions To Avoid Ambiguity
D. Working With Legal Counsel
III. Role Of Legal Counsel
A. When Should Legal Counsel Become Involved?
B. Division Of Labor With The Real Estate Agent
C. The Importance Of Document Review
10:10 a.m. - 10:25 a.m.
10:25 a.m. - 11:30 a.m.
IV. Residential Mortgage Hot Spots
A. The Process: Residential Real Estate Loan Process – Who Does What And How The Loan Process Is Integrated Into The Overall Transaction
B. The Product: Loan Options; Advantages/Disadvantages Of Each
C. The Price: Costs To Be Reasonably Expected In A Loan Transaction And What They Are For
D. The Procedures: Current Issues With Legal Ramification.
11:30 a.m. - 11:45 a.m.
V. Questions And Answers
11:45 a.m. - 12:45 p.m.
Lunch (On Your Own)
12:45 p.m. - 1:50 p.m.
VI. Title Insurance Issues
A. Basic Coverage Issues
1. Affirmative Coverage
B. Standard vs. Extended Coverage
1. Standard Exceptions
2. Extended Coverage Requirements
1. Recommended Endorsements
2. Commonly Requested Endorsements
1:50 p.m. - 3:00 p.m.
VII. Condominiums And
A. General Overview Of Types Of Homeowners' Associations In Oregon
B. Operation Of Homeowners' Associations Under Oregon Law
C. Special Considerations When Buying And/Or Selling In An Association Project, Including Developer Transition Issues
3:00 p.m. - 3:15 p.m.
3:15 p.m. - 4:20 p.m.
VIII. Construction Liens
A. Who Is Entitled To Lien
B. What Property Interests Are Subject To Liens
C. Perfection Of Liens
D. Foreclosure Of Liens
E. Filing And Effect Of Lien Discharge Bonds (Bonding Off)
4:20 p.m. - 4:30 p.m.
IX. Questions And Answers