turner team inc. buyer's real estate guide

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Buyer’s Extraordinary Service Guarantee

Extraordinary Service Guarantee for the Home BuyerThe Extraordinary Service Guarantee is your written commitment from Jenny, Charles,

and the Turner Team Realtors® assuring the delivery of all of the services described below.

As your Real Estate Professionals, we will:1. Present an agency law pamphlet and explain

agency relationship.

2. Gather information to identify your needs and goals and to plan a property search.

3. Offer to arrange pre-qualifying or pre-approval meeting with one of our preferred lenders to determine affordability range and improve negotiating position at the point of offer.

4. Explain home warranty services and providers such as American Home Shield Buyer Protection Plan, Landmark Home Warranty, and Old Republic Home Protection.

5. Commit to priority availability for meeting your needs and schedule for property research and showings. Complete a thorough market search to identify all properties consistent with your needs and price range.

6. Prepare a written Competitive or Comparative Market Analysis for you prior to your making an offer, per your request, if possible.

7. Prepare a written offer to purchase the property of your choice reflecting your price and terms.

8. Provide advice and negotiating assistance on all offers to purchase. Monitor and communicate the status and satisfaction of contract contingencies.

9. Obtain and review with you the seller’s written property history and disclosure statement.

10. Recommend professional inspections and review findings and remedies with you.

11. Accompany you on a property walk through before closing, if provided for in the contract.

12. Contact you after the closing to assure the satisfactory completion of all service details.

The Turner Team RealtorsReal Estate Professionals

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Introduction for the Home Buyer

Thank you for the opportunity to let us represent you in the purchase of your new home. We think of our clients as individuals with specific needs. With this in mind, we strive to give you exceptional service. No two real estate transactions are the same but regardless of your goals we can help you make the informed and educated decisions that best suit your situation.

We, Jenny and Charles, teamed up as Realtors in 2003. Every year since then we’ve continued to grow and improve the service and expertise we are able to offer you. In 2010 we incorporated, in part to underscore that real estate is a business, not a part time hobby. Our current business is made up of more than fifty percent past clients and client referrals. Earning your repeat business and referrals is our main goal. Our unique team structure allows us to serve the entire Portland Metro including SW Washington. We have the tools and expertise to guide you through any residential real estate transaction.

This guide provides an overview of our team and of the buying process:

• Buyer’s Quality Service Guarantee ..................................................... 2

• Introduction ...............................................................................................3

• The Turner Team .......................................................................................4

• The Turner Team in the Community .................................................. 6

• Finding and Buying a Home .................................................................7

• What to Expect... .......................................................................................8

• Technology Streamlines Your Transaction ...................................... 9

• Home Warranty .......................................................................................10

• Dual Agency and Buyer Due Diligence ..........................................11

• Mortgage Brokers Recommended by Past Clients ....................12

• Preparing for the Lender .....................................................................13

• Loan Processes Do’s and Don’ts ........................................................14

• Moving Checklist ....................................................................................15

• Services You May Need ........................................................................16

• Looking for a Home Inspector ...........................................................17

• Buying a Short Sale ................................................................................18

• Buying a Bank-Owned Property .......................................................19

• Reviews ......................................................................................................22

• Oregon Real Estate Agency Disclosure Pamphlet ......................24

Jenny Turner Principal Broker, MBA, GRI

503.312.4642 • [email protected] holds an MBA from Portland State University as well as an undergraduate degree from Lewis & Clark College. Her certifications include Graduate Realtor Institute (GRI). In addition to a wealth of knowledge and experience in real estate and being a licensed broker in both Oregon and Washington, Jenny has a passion for the communities she serves. She is past President, and current member, of the Board of Directors for the Fruit and Flower Development Center - an agency for helping children. She and her husband, Charles, reside in Northwest Portland with their son, Ryan. Her passions for family, community, and helping people achieve their dreams are evident in the diligence she brings to every transaction, relationship, and engagement in her life.

Charles Turner Principal Broker, MBA, e-PRO, GRI

503.936.7764 • [email protected] brings a wealth of knowledge to this team as demonstrated by the over 1000 posts he has written for our industry-respected blog, PortlandRealEstateBlog.com. In addition, he brings to the position an MBA from the Atkinson Graduate School of Management at Willamette University and an undergraduate degree from Lewis & Clark College. His certifications include completion of NAR’s e-PRO and Graduate Realtor Institute (GRI) designations. He also serves as a Tom Ferry Coach for Realtors®. Like his wife and business partner, Jenny, Charles has a great love for his community and serves it as a member of the Ambassador Board for the Oregon Chapter of the Make-A-Wish Foundation. In addition to a love of family, community, and real estate, Charles also enjoys sailing and cycling.

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The Turner Team

The Turner Team’s Realtors® Jessica Berger, Oregon Broker • 503.703.1712 • [email protected] joined our team as a graduate of the University of Oregon and has a passion for assisting buyers and sellers, which is evident in any interaction with her. She lives in the Hawthorne neighborhood with her husband and loves family as well as supporting children in the community. Some of her favorite activities include wine tasting, fashion, and studying architecture.

Jennifer Burns, Oregon Broker • 503.943.0028 • [email protected] an Oregon licensed broker, Jennifer shares her knowledge about the “built environment” to help clients find their perfect home. Prior to returning to the Pacific Northwest, Jennifer had a successful career in museums and historic preservation. She brings an interest in building strong neighborhoods and community development that she acquired through her roles as a neighborhood president and a historic preservation commissioner in North Carolina. In her spare time, Jennifer volunteers with the Oregon Humane Society and enjoys exploring Oregon’s backroads. She holds an undergraduate degree from Linfield College and a master’s degree in history. Jennifer lives in the historic Irvington neighborhood with her husband and their pets.

Lisa Carter, Oregon and Washington Broker • 503.757.7283 • [email protected] is one of our dual state brokers – licensed in both Oregon and Washington. She joined the team as a graduate of Oregon State University and is now one of our top agents and Washington State specialist. Clients truly appreciate her patient, friendly, compassionate, and understanding manner. In addition to spending time with her husband and three children, Lisa also is passionate about serving her community in Brush Prairie.

Susan Horvat, Oregon Broker, STAR, SFR, ABR • 503.949.3899 • [email protected] is a member of RMLS and WVMLS and serves both buyers and sellers in real estate transactions. She is an NAR Short Sale & Foreclosure Resource (SFR) and an Accredited Buyer Representative (ABR). After living in the Salem area for many years, Susan now lives with her husband in the Tualatin area and loves to spend her spare time with her two grandchildren.

Matt Lorenzen, Oregon Broker • 503.505.4334 • [email protected] considers himself a student of life but he also earned a Bachelor’s Degree in Social Science and a Master’s Degree in Public Administration (MPA). As a licensed Oregon broker, he satisfies his desire to learn by continually expanding his knowledge of local and national real estate trends, as well as industry best practices. Matt lives in West Linn where he and his wife are raising their three children. He serves as a Board Member of the West Linn Main Street Organization: Historic Willamette.

Sujit Misra, Oregon Broker • 503.933.6773 • [email protected] getting an MBA in the Midwest, Sujit has lived in the Portland area over 10 years. Through his past career in banking, Sujit honed his skills working with clients looking to purchase a home. He also has demonstrated his love for the community through this work at Habitat for Humanity and in supporting local area animal shelters. These passions also allow him to focus on what he loves the most: educating and providing insight. When not assisting clients, Sujit enjoys exploring new areas of Portland as well as traveling internationally.

Jill Saucedo, Oregon Broker • 503.867.4982 • [email protected] a graduate of PSU with a strong history of entrepreneurial leadership, Jill brings her desire to help others, and a passion for her community, to every transaction. She and her husband live in Wilsonville, where she serves as the VP of Fundraising for the Lowrie Primary PTA and on the Board of Directors for Building Blocks 4 Kids. In her spare time, she can be found cheering on the sidelines for their four children, taking care of their two dogs and two birds, or helping to organize events, fundraisers, and community partnerships.

Heidi Schiewe, Oregon Broker • 503.347.3643 • [email protected], an Oregon native, studied Communications at Portland State University. Prior to becoming a licensed Realtor, Heidi enjoyed a successful career in home furnishings providing high-level customer service. She has taken this experience into the real estate industry and takes pride in helping buyers find their “just right” property. In her spare time Heidi enjoys hiking, golfing, wine tasting, and volunteering with Meals on Wheels. She resides in West Linn with her husband where they raised their college-aged sons.

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The Turner Team

Press & Award Highlights

2014• Portland Business Journal’s Top

100 Fastest Growing Private Companies

2013• Portland Monthly 5 Star Agent• Keller Williams Double Platinum

Award2012

• Atlantic & Pacific Real Estate: Top Agents Nationwide

• Portland Monthly 5 Star Agent2011

• Portland Business Journal’s Forty Under 40 awarded to Charles

2010• Prudential Chairman’s Circle

Platinum • 2nd Quarter Top Three Sales

Professionals in Oregon for units & GCI

• Oregonian Alphabet District Neighborhood Profile Article

• Portland Tribune Article• Portland Mercury Article

2009• Prudential Chairman’s Circle Gold• KOIN News TV Interview

2008• Prudential Chairman’s Circle Gold

RISMedia Realtors on the Rise• NuWire Investor Article

2007• Prudential Chairman’s Circle Gold • New York Times Article• Brainstorm NW Article

2006• Prudential President’s Circle • Oregonian Article• Daily Journal of Commerce Article• Associated Press Article

2005• Prudential President’s Circle• Portland Business Journal Article• Oregonian Article

2004

The Turner Team’s Administrative Staff

Jessica Earley, Director of Operations503.305.3280 • [email protected] is responsible for streamlining business processes, managing team members, and optimizing our marketing strategy to support continued growth of Turner Team, Inc. She provides exceptional service to our clients and offers a wealth of knowledge to our team. Her background includes a bachelor degree from New York University. She is also licensed in Oregon. To serve our community, she is an Ambassador Board Member at Friends of the Children, a local non-profit. Jessica lives in North Portland with her partner Ethan and their dog Delta.

Eli Higdon, Marketing & Social Media Coordinator503.336.7668 • [email protected] over 10 years of marketing experience, Eli joined us after completing her BA and Master’s Degree. As our marketing professional, Eli ensures that we stay connected with all of our clients, providing them with up-to-date real estate information and market analysis. She ensures that our clients’ listings have the best exposure that marketing can offer. She recently moved to the Beaverton area and when not in the office, Eli spends her time hiking, biking, raising money and awareness for the Arthritis Foundation, and exploring the Pacific Northwest.

Our unique team structure allows us to serve the entire Portland Metro

including SW Washington. We have the tools and expertise

to guide you through any residential real estate

transaction.

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We proudly support the Make-A-Wish Foundation of Oregon and Fruit & Flower with our charitable dollars. Charles is a member of the Ambassador Board for the

Oregon chapter of the Make-A-Wish Foundation and Jenny is a member of the Board of Directors for Fruit & Flower.

Giving back is an important part of being members of our

community.

The Turner Team in the Community

The Make-A-Wish Foundation grants the wishes of children with life-threatening medical

conditions to enrich the human experience with hope, strength

and joy.

FRUIT & FLOWER provides a play-based childcare program that supports creative thinking, respect for diversity,

and social awareness in each child.

KW Cares is a tax exempt 501(c)(3) public charity created to support Keller

Williams Realty associates and their families in times of extreme hardship as a result of a sudden emergency. Hardship is defined as a difficult circumstance that a person or family cannot handle without outside help.

This charity is the heart of the Keller Williams Realty culture in action – finding and serving the higher purpose of business through charitable giving in the communities where our agents live and work.

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Finding and Buying a Home

Initial Consultation• Determine your priorities and needs

• How long are you planning on living in your next home? • Consider the benefits / drawbacks to owning a home

• Review “agency” choices & select appropriate working relationship• Discuss financing options

Preparing an Offer• Review comparable sales to determine offer price• Review progress of loan pre-approval; decide on financing• Decide on other terms (inspections, possession date, personal

property, etc.)

Completing the Settlement Process• Deposit of earnest money• Review seller’s property disclosures• Review preliminary title report• Roof, termite and other inspections• Remove any remaining contingencies• Arrange for homeowners insurance• Arrange for home warranty• Arrange for movers• Final walk-through of property with Realtor®• Provide balance of down payment and closing costs• Sign documents• Loan funding• Recording of title• Receive keys from Realtor®• Move in!

• Property appraisal• Loan processing• Final loan approval

Finding the Right Home• Realtor® to show you properties based on your criteria

• What kind of home do you want? (Detached, Attached, etc.)• How many bedrooms and bathrooms?• Are school districts important?

• Evaluate each property with sales associate• Choose the right home

Obtaining Financing• Select a mortgage company• Consult with a loan officer

• What are the different loan programs available (FHA, VA, Conv, etc.)

• Make sure your credit is in good shape

• Pre-qualification• Complete loan application• Obtain pre-approval

• How much can you afford?

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What to Expect

From this MarketNavigating this market can be very complex at times. In your search for a home you generally come across three different types of sellers. Each one will have different escrow timeframes, negotiation styles, pricing strategies, and timeframes for accepting your offer. Without knowing the different characteristics of the different types of sellers it can be very frustrating to a buyer.

Traditional Sales: These are sellers who have equity in their homes and are usually looking to close escrow in 30-45 days. When writing an offer on a traditional sale you will usually negotiate directly with the seller through their agent.

Short Sales: These are sellers who owe more than what they can sell their home for and therefore have to negotiate with their bank to receive a lesser amount. Typically the negotiation process with the bank can take four to six months to get an offer approved and the price is subject to change during this time. There is also a chance that the bank will reject the seller’s request for a short sale and instead foreclose on it.

Foreclosures: These are the homes which have been foreclosed on and taken back by the bank, also known as Real Estate Owned (REO) or bank owned. Like the traditional sale the bank will want to close escrow within 30 days upon accepting your offer. The banks are motivated to sell these homes quickly and will typically price them slightly below market value to get multiple offers and create a bidding war to drive the price up. Even though you may pay over the asking price, these can still be a great value.

When Writing an OfferHere are some things to consider to ensure your offer gets accepted:

What type of sale is it?

• Traditional sale, short sale, foreclosure?

Is it priced right for the market?

• What is the buyer activity?

• Are there offers on the home?

• What other homes are for sale in the neighborhood?

• What has sold recently in the area?

• How long has it been on the market?

What is the seller’s motivation?

• Are they price driven or are there other terms that are more important to them?

• How long of an escrow are they looking for?

Do you need concessions for closing costs?

• Closing costs such as title, escrow, and lender fees usually cost around two to three percent of the sales price.

Are there multiple offers on the property?

• This is not uncommon for homes priced right for the market, in great condition, and in a good location.

• Often times the seller will ask for your “highest & best” offer. In other words, what is the highest price you will offer, considering someone else might out bid you, you would not have any regrets because you gave it your best shot?

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Technology Streamlines Your Transaction with the Turner Team

Technology is constantly moving

the real estate industry forward.

We strive to adopt the tools that will make your

transaction as smooth as possible.

The real estate transaction is getting closer and closer to being paperless. Electronic signatures are widely accepted and allow you to sign without printing, scanning, or faxing. It doesn’t matter if one signer is home and the other is on a business trip. All signatures are collected by the system and placed into one document no matter who signs first. One of our clients signed his accepted offer from 30,000 feet on a cross country flight with WiFi and his mobile phone!

Skype allows us to keep in touch anywhere in the world with an Internet connection. We’ve helped buyers and sellers close transactions from as far away as England, Singapore, and Taiwan.

We use Dropbox to manage all of our paperless files to ensure we can quickly access them wherever we are.

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Home Warranty

➢ What is a home warranty?A home warranty is a service contract that covers the repair or replacement of many of the most frequently occurring breakdowns of home system components and appliances.

➢ Why do I need a home warranty?While a home warranty is optional, it is highly recommended. Unexpected repair or replacement costs can easily strain your budget. Plus, finding a qualified professional to solve your problem can be stressful and inconvenient. A home warranty cannot prevent systems or appliances from breaking down, but it can help make handling covered repairs or replacements easier and less costly.

➢ Types of coverageBecause all plans differ, you will need to ask specifically what is covered. We are happy to discuss with you the different options and what best fits your needs.

➢ How do I acquire a home warranty?A home warranty can be purchased by the buyer on your own, purchased by the seller while their home is on the market, or negotiated during the sales agreement.

➢ Recommended Home Warranty Providers

American Home Shieldwww.ahs.com800.735.4663

Landmark Home Warrantywww.landmarkhw.com866.306.2999

Old Republic Home Protectionwww.orhp.com800.445.6999

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Dual Agency and Buyer Due Diligence

As a buyer, you want to pay the least amount of money and have the seller make the most amount of repairs. As the seller you the most amount of money and to complete the fewest number of repairs. The back pages of this guide contain The Law of Real Estate Agency for Washington State. Disclosed dual agency is a real estate transaction where both the buyer and seller agree to be represented by the listing agent. WE WON’T DO THAT. The Turner Team, Inc. will only participate on behalf of one party in all non-institutional sales. Representing both sides is a conflict of interest. If you hire us as your Realtors® you know that we have your best interests in mind.

The only time we will participate in a dual agency transaction is if the seller is a bank or other entity. Banks are also exempt from property disclosures and their offer acceptance is “as-is”. In the bank owned sales that we list, we are the conduit for the flow of information. Your decision whether to buy or not is based on the bank’s terms and the due diligence that is performed during the inspection period and other contingencies.

The Earnest Money Agreement [the offer] paperwork contains contingencies that are mostly in favor of the buyer. Most contingencies expire after a set time and are considered accepted unless action is taken to reject them. Each contingency allows you to review the information provided by the seller, the title company, inspections, and other sources of due diligence during that contingency’s time frame. Rather than “Buyer Beware” we strive to make it “Buyer Be Aware” so that you know you are making the best decisions for your situation. If you back out of a transaction based on a contingency you would be entitled to have your earnest money returned. If you simply change your mind and don’t want to buy the property your earnest money could be forfeited to the seller. In all instances, both the buyer and seller must agree to what happens to the earnest money in writing. As a seller, you are obligated to sell under the terms agreed upon but do not have to make any concessions or repairs.One of the best sources of public information about a specific property or address in Portland is PortlandMaps.com. You can find everything from crime reports, building permits, and oil tank records to your garbage collection schedule. The “Resources” page of our TurnerRealtor.com website provides the links for other county’s websites and also to public school links.

The Oregon Association of Realtors® provides Buyer and Seller Advisories designed to assist home buyers and sellers in meeting their obligation and/or to satisfy themselves as to the condition and desirability of real property. Common issues that arise in Oregon real property transactions are summarized in these Advisories, which can be found on their website: www.oregonrealtors.org/resources/membership-resources/buyer-seller-advisories

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Mortgage Brokers Recommended by Past Clients

I am a native Oregonian and started my career in lending February 2, 1980. I learned early on that what clients want and certainly deserve is straight forward honesty about the products that fit their needs and the process they are entering into. Beyond that I am committed to ensure that

everyone I deal with has price clarity about the cost of doing business with me and I gladly take the time to help borrowers compare offering from other lenders. While this may sound simple, our rapidly changing business demands full attention and you can depend on my full time commitment to overseeing all the details of your next real estate transaction.

Shane MusselwhiteLoan Officer - NMLS 249862Office: 503.908.7116Mobile: [email protected]/officers/shanemusselwhite

Evan takes great pride in working individually with every customer that the team serves. He brings his expertise as a Certified Financial Planner™ to every loan application, educating

all customers on how the choices they make surrounding their mortgage will affect the rest of their financial lives. Evan is a proud husband and father; he married Tina in 2006, and they welcomed daughter Addie in 2010 and son Bennett in 2012. When Evan can find time away from work, he enjoys being with his family, teeing it up on the golf course, and listening to his vinyl record collection.

Evan Swanson, CFP ®Mortgage ProfessionalNMLS #120856Office: 503.282.5626 x4012Mobile: [email protected] www.evanswanson.com

Drew LovernLoan Officer - NMLS# 650099Office: [email protected]/drewlovern

Having worked in lending for over four years, my passion is to help you finance your dream home. By taking time with you, I explain the home lending process and program options

so you can make the best decision for your long term financial goals. I will be thorough and attentive to your needs. Outside of helping people obtain their homes, I enjoy playing drums, brewing beer, and spending ample time with family and friends.

Kim PentrackSenior Mortgage BankerDirect: 503.706.9077Office: [email protected]/loans/kimberly-pentrack

I’m a native Oregonian and graduated from the University of Oregon’s business school. I have been a Branch Manager for Wells Fargo Home Mortgage since 2001. My team can help clients with a variety of home

financing needs including condo’s, renovation, investment, first time, move up, and second homes. In addition, we specialize in new construction with long term locks, and Corporate Relocations. Our goal is to offer you multiple options so you can make a well informed decision that best meets your short and long term financial goals.

Liz Marré NMLS 118575Amanda Good NMLS 298019Office: [email protected]@mgtmortgage.comGreen Mortgage Northwest MLS 106-1739www.greenmortgagenw.com/liz-marre

Liz Marré, Amanda Good, and their team have over thirty years of combined experience and have closed thousands of home loans. They combine a savvy understanding of the ever-changing home

loan landscape while providing a personal touch in what is too often viewed as a “volume” business. Their goal is simple: to make the loan process seamless while keeping their clients’ best interests at heart.

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Preparing for the Lender

• Full names of all purchasers as they are to appear on the title.• Social security numbers of all purchasers.• Present residence address for all purchasers and previous address for all purchasers going back two years.• Home, office, cell phone numbers.

• Present Employer: Name, address and a contact person to send employment verification form.• Explanation for any gap during two year employment history.• Relocation letter for any transferees - giving date, salary, new location, and any relocation benefits.• Previous Employer: Name, address, and a contact person, going back two years.• Present Salary: Year-to-date pay stub and W-2s for last two years.• If any variable income, commission, part-time income, bonus, overtime, interest income, etc., is being used to qualify:

Two years signed federal tax returns and W-2s and/or 1099s.• If self-employed: Two years signed federal individual and corporate returns (if applicable). Also a profit and loss

statement and balance sheet.• Diploma or transcript if student during two year period.

• Rental Income: Copy of lease which is current and at least one year in length.• Alimony and Child Support (only if used for qualification): Copy of divorce decree and property settlement (ratified)

setting out terms. Proof of payment will also be requested at application.• Income from notes held: A copy of the ratified note.• Retirement, Social Security, and Disability Income: Copy of award letter and latest check showing amount of present

payment. Copy of end of year statement if applicable.

• Bank Accounts: Name of bank, address, account numbers, types of accounts, and present balances. With checking, use average balances.

• Copy of two most recent statements of all accounts.• Stocks and Bonds: Copy of certificates or copy of recent (within 30 days) broker statement listing holdings.• Life Insurance: Cash value, only if being used for down payment.• Vehicles: Year, make, and value. Copy of title if under four years old with no outstanding lien.• Real Estate: Address and market value. If free and clear, deed of release, deed or mortgage payoff. • Present Home: Copy of sales contract, settlement sheet and/or lease.• Gift Letter: Form will be provided by financial representative. Donor capacity must be verified. Receipt of funds must

be shown in account.

• Credit Cards: Account numbers and outstanding balances.• Loans (Auto, Mortgage, Personal, Student, etc.): Name of institution, address, account numbers, outstanding balances,

monthly payments, and months left on loan. Copy of next payment coupon. 12 months of statements or canceled checks for present mortgage.

• Alimony and Child Support: Copy of ratified decree and property settlement setting out terms.

• Certificate of Eligibility: To obtain, you will need a DD-214 (Separation of Service) or if in the service, you will need a Statement of Service signed by a Commanding Officer or Personnel Officer (certificate must be updated prior to application).

• If in the service, you will need an Authorization to Live Off Base (DD-1717 from the housing office) and Transfer Order (if applicable).

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Loan Process Do’s and Don’ts

Will Mortgage Pre-Approval Hurt My Credit Score?

This is a very common myth. Getting preapproved is 100% beneficial to you because it gives you the confidence to write offers and prevent any heart ache down the road. Good agents and smart sellers will not even consider looking at a financed offer without a preapproval letter.

All of the credit bureaus understand the complex timing of getting a mortgage. Therefore, they have instituted measures to avoid reflecting pre-approval inquiries on credit reports.

There are certain “Dos and Don’ts” which may affect the outcome of your loan request. These remain in effect before, during, and after loan approval, up until the time of settlement when your loan is funded and recorded. Many times credit, income, and assets are verified the hour you have signed your final loan documents. Here is a list you should comply with:

Don’t!• Do anything that may alter your credit and risk

you obtaining your loan. Also, these things may put you in default of your Sales Contract, put your Escrow deposit at risk, and put you at risk of being sued.

• Quit your job or change jobs. If this is likely, consult your loan officer and call our office.

• Allow anyone to make an inquiry on your credit report except your lender.

• Apply for credit anywhere else except with your lender. This causes more “hits” on your credit rating which can reduce your credit score.

• Change bank accounts or transfer money within your existing accounts.

• Co-sign for anyone, for any reason, for anything.

• Purchase or attempt to purchase anything on credit such as another car, truck, boat, furniture, etc.

• Charge any abnormal amounts to your current credit cards or credit lines.

• Send in late payments or incur late fees for anything.

• Wait longer than the time-frame given per your contract to provide all necessary paperwork and information to your lender.

Do!• Keep all accounts current, including mortgages, car

loans, credit cards, etc.

• Contact both your lender and your Realtor® anytime a question arises.

• Make all payments on or before due dates on all accounts, even if the account is being paid off with your new loan.

• Have any lender-required money or funds to your loan officer within seventy-two hours after home inspection is complete.

• Return phone calls from your agent, loan officer, settlement company or anyone else involved in your transaction within two hours of a message.

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Moving Checklist

4 Weeks to Go ❍ Call moving companies for a free

estimate. Cost will vary depending on distance, weight, and optional services.

❍ Look through your house to determine items to be discarded or donated to charity. Have a garage sale!

❍ Inform schools of transfer. Make arrangements for enrollment/registration in new schools if necessary.

❍ Most homeowner’s policies do not provide adequate coverage for moving. Check with your agent and consider purchasing additional coverage from a moving company.

❍ Begin collecting boxes with covers if you plan to pack your belongings. You can purchase packing materials through moving companies or contact local grocery stores for extra boxes. Be sure to stock up on packing tape!

❍ Begin consuming perishable and frozen food items to minimize waste.

3 Weeks to Go ❍ Begin packing!

❍ Notify the post office of your new address and send change of address cards to friends, family, subscriptions, and any billing companies/credit cards.

❍ Make necessary travel arrangements including interim housing and car rental. Be sure to record confirmation numbers.

❍ Collect medical records and prescriptions from physicians. Ask for recommendations for doctors in your new area.

❍ Place legal medical and insurance records in a safe and accessible place.

2 Weeks to Go ❍ Arrange to disconnect utilities/

services in your current residence and coordinate installation of utilities/services in your new home:

❑ Electric/Gas ❑ Water/Sewer/Trash ❑ Phone ❑ Cable ❑ Internet ❑ Other: __________________

❍ Close/transfer bank accounts and open accounts in your new city.

❍ Take pets to the vet for immunizations. Ask for advice on moving animals.

❍ Draw a map of your new home and where the furniture will be arranged.

❍ Return library books and any borrowed items.

❍ Be sure to cancel newspaper subscriptions and/or special services you have (i.e. landscaping/lawn service, snow plow, etc.)

❍ Change your address with the DMV for your vehicle registration and your license.

1 Week to Go ❍ Prepare car for the trip. Check the

oil, tires, brakes, etc.

❍ Drain water from household hoses.

❍ Drain gasoline and oil from any lawn or power equipment.

❍ Remember to pick up items sent to the cleaners or for repairs.

Final Days ❍ Defrost and clean out refrigerator.

❍ Pack your luggage and separate any items you will need in the first days in your new home. Label these boxes “Load Last”.

❍ Reconfirm travel arrangements.

❍ Reserve ample parking space for the movers and provide clear paths inside the house.

The Big Day! ❍ Be on hand to answer any

questions.

❍ Go over your inventory with the driver.

❍ Be sure to point out all FRAGILE items to the movers.

❍ Check, double check and triple check to see if anything is left behind!

❍ Do not leave the house until the movers are gone.

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Services You May Need

Real Estate LawyersPhil Querin121 SW Salmon St, Ste 1100, Portland, OR 97204503-471-1334

Richard A. Mario5300 Meadows Rd, Ste 200, Lake Oswego, OR 97035503-620-8900

Home InspectorsHome Team Inspection Services » Mike Huppi5890 SW 191st Ave, Aloha, OR 97007503-530-8306www.hometeam.com

Nickelsen Home Inspections, LLC » Kurt Nickelsen7314 NE 58th Ave, Vancouver, WA 98661360-907-9648www.nickelsenhomeinspections.com

Pillar to Post » Scott Saari1118 Lancaster Dr, #316, Salem, OR 97301503-856-8775www.scottsaari.pillartopost.com

Pillar to Post » Chris Livingston10258 SW Stuart Ct, Portland, OR 97224503-682-3053www.portlandwestside.pillartopost.com

Superior Home Inspection » Troy Walton12611 NE 7th Ave, Vancouver, WA 98685360-571-4142www.a-shi.com

Sewer Inspectors & RepairsPipe Repair Services » Bill Schroeder971-570-5452

Pest ManagementEvergreen Pest Management503-925-9752www.nobugs4u.com

Home StagersChancellor Designs » Ruth Chancellor503-807-8167www.chancellordesigns.com

ElectriciansPrecision NW Electrical Contractors » Mike McDonald503-413-9870

InsuranceFarmers Insurance » Paul Rilatt8196 SW Hall Blvd, Suite 217Beaverton, OR 97008503-646-2300www.farmersagent.com/prilatt

The Porche Insurance Agency » Barbara Porche2140 Hammerle St, Ste A, West Linn, OR 97068503-557-7989www.PorcheAgency.com

Radon / Oil / Mold / LeadAlpha Environmental11080 SW Allen Blvd, Ste 100, Beaverton, OR 97005503-292-5346www.alphaenvironmental.com

17

Looking for a Home Inspector(1 of 2)

Here’s What You Need to Know:➢ Why should I get a home inspection?

Before purchasing a house, many people contract with a home inspector to objectively evaluate important aspects of the home’s condition. A professional home inspector can spot existing defects and conditions that the seller may be unaware of.

➢ What is a home inspection?A home inspection is a general, visual examination of the current condition of the house. An inspection report should cover the mechanical systems of the house: interior plumbing, electric, heating and cooling, general interior, attic and visible insulation, ventilation, siding, windows, doors, roofs, attached garages, foundation, and visible structure. Features that are not part of the main structure such as septic systems, wells, underground piping, and swimming pools are usually not included. A Wood Destroying Organism Report (WDO), sometimes called “a pest and dry rot”, may also be included.

Home inspectors will not move furniture, rugs, or other obstacles, nor will they inspect areas which are inaccessible such as wall interiors, wet crawl spaces, and steep or wet roofs.

➢ How do I find a qualified home inspector?Consider finding your own home inspector. Don’t rely solely on the recommendation of the real estate agents involved in your house purchase. Ask friends, co-workers, neighbors, or lender for recommendations.

➢ How do I check a home inspector’s qualifications?Before signing a contract with a home inspector, check with the Oregon Construction Contractors Board (CCB) to make sure the business is properly licensed, and has a certified home inspector employed. Anyone who performs home inspections of two or more components: roof, plumbing system, electrical system, etc. must be certified with the CCB. A licensed business is also insured and bonded, providing some financial protection if problems occur. To check a license, certification, and complaint history, visit the CCB at www.oregon.gov/ccb or call the CCB at 503-378-4621.

Ask the home inspector if he/she belongs to a trade association. Trade associations require members to adhere to standards of practice, a code of ethics, and industry-specific training.

Continued on Next Page

Keep in mind that a home inspection is

an educated opinion, not a warranty or guarantee that the

house is sound or that there will never be any

problems.

18

Looking for a Home Inspector(2 of 2)

➢ What else should I know?You get what you pay for: Don’t automatically contract with the lowest-priced home inspection company. Consider aspects such as cost, services provided, experience, and qualifications of the home inspector before deciding which company meets your needs.

Ask questions: How does the company handle disputes–do they have an arbitration clause in their contract? What items will the home inspection report include? (Reports must be written, but there is no standard format.)

A written contract is required for all home inspections: If there are problems later, a written contract will protect you. Don’t sign the contract until you have read and understood everything in it. The Construction Contractors Board has adopted Standards of Practice and Behavior which list what a home inspector must do and cannot do. If you and your home inspection company agree that the home inspection will deviate from those standards, the changes must be written into your contract.

Liability Clauses: Read the contract carefully. Home inspection businesses often include a clause in their contracts which limits their liability amount to the cost of the inspection. This is a common practice that underscores the need for buyers and sellers to find skilled, competent home inspectors.

Be clear about what is and is not included in the home inspection: You may need to contract for a specialized inspection to check details such as asbestos, radon, lead-based paint, code compliance, mold, low-voltage wiring, etc.

It is important to be present at the home inspection: To discuss the home inspector’s findings, the current condition of the house, and any minor or major repairs that may be needed.

Any business that does an inspection of two or more components of a house cannot, by law, perform repairs on the house within twelve months of the home inspection. However, home inspectors who inspect only one detail of a home (for example, the roof ), may contract to perform repairs on the house.

Consider getting a second opinion: If the home inspector’s findings indicate needed repairs, get an opinion and an estimate from another properly licensed contractor before deciding to buy the home.

Home inspectors should not give estimates of the home’s market value: Oregon certified home inspectors cannot provide an opinion on or appraisal of the value of a house that he/she has inspected.

➢ What should I do if I have problems?The Construction Contractors Board offers dispute resolution services for homeowners who use licensed home inspection businesses.

Try to resolve the problem with the home inspection business first. If you cannot come to an agreement, download a complaint form from CCB’s website at www.oregon.gov/ccb (click on Consumer Help or Dispute Resolution). You can also call the CCB at 503-378-4621 to obtain a complaint packet or to ask further questions.

If you had a contract with the home inspection business, you may file a complaint as long as you do so within a year of the home inspection.

19

Buying a Short Sale

“Short Sale” is used to refer to those real estate transactions in which the agreed-upon purchase price is insufficient to pay off all of the secured debt on the property (such as mortgages, trust deeds, state/federal income taxes, liens, property taxes or other local assessments) including the costs of closing, such as escrow and recording fees, title insurance premiums, real estate commissions, etc.

As the buyer of a short sale, patience is often the most important component to a successful sale. When the seller accepts your offer it is sent to the bank(s) for approval. That process can take months and still does not guarantee the transaction will close. The contingencies in your offer begin with notification of short sale approval. That’s when your earnest money must be deposited and the inspection period and other contingency time frames begin.

Do you want to fall in love?

If you do, a short sale may not be the best home for you. The process can take months and there are lots of things that can go wrong during the transaction that you have no control over.

Short sales are best for those that have no time contraints on making a purchase and that will not be crushed if the transaction falls apart.

When you are looking at property online, short sales that are awaiting bank approval are catagorized as “Short Sale Pending” (SSP) and will show as available. When bank approval is received the property goes “Sale Pending” and will drop off of property search results.

20

Buying a Bank-Owned Property (1 of 2)


What price does the bank (seller) want for the property?

The same as if a private seller was listing their home. They want the listing price or better.

How did the seller come up with their listing price?

The sellers typically try to determine fair market value through a combination of Broker Price Opinions and appraisals on the property. The condition of the property was also taken into consideration.

How do I place an offer for the property?

All offers must have either a pre-qualification letter or proof of funds attached to them. A pre-qualification letter can be obtained by going to a direct lender. Proof of funds can be a bank statement showing the balance in the account exceeds the offer amount or a statement from a securities company. A prequalification letter must be current and contain the following information:

• Borrower’s name • Borrower’s lending limit • Lender’s name • Lender’s address

• Loan Officer’s name • Loan officer’s direct phone and fax numbers.

Once you have obtained proof of funds or a pre-qualification letter, then you should begin looking at houses.

What should I offer for the property?

You should make an offer that feels comfortable to you. However, if you are going to submit an offer substantially below the list price, be prepared that you may:

1. be outbid by other prospective buyers;2. need to wait an extended amount of time for a seller’s answer; or3. be forced to look for a different property if your offer is not accepted.

Will the seller look at more than one offer?

YES. And the seller will not consider a property under contract until the seller has signed all contract forms and addendums. (They will not do this until the buyer has signed all of these forms first.) Therefore, if you make an offer on a property and receive seller addendums back, you need to review and (if you agree to the terms) sign them immediately and return them. (Never cross out or make changes on the seller addendums unless you are willing to have the seller treat such changes as a counter offer that can result in your offer subsequently being rejected by the seller.)

Will the seller make repairs?

Most foreclosures are sold “AS IS, NO DISCLOSURES.” This means the property is offered “as is,” without repairs or upgrades. The seller has already reduced the price of the property for any damages or needed repairs, which are reflected in the listing price. As for “No Disclosures,” the seller cannot provide disclosures because typically the seller has not personally seen the home to have knowledge of its condition.

Foreclosure sellers generally rely on what the listing agent and appraiser have seen.

21

Buying a Bank-Owned Property(2 of 2)

When will the seller respond to my offer?

Response times on an offer can vary from just a few days, to much longer.

Will the seller accept contingencies or a Lease/Purchase?

No. Contingency and lease/purchase offers are generally not accepted on foreclosed properties.

Does the seller have any special forms?

Most sellers do have what they call “special addendums.” These forms vary from lender to lender. The addendums supersede the original purchase and sale agreement and become part of the purchase and sale agreement. Most of these forms have a few items that the buyer must pay close attention to, such as per diem charges, inspection periods, closing costs, and earnest money requirements.

Should I get a home inspection?

Yes. A thorough home inspector can provide the buyer with valuable information.

Will the seller allow for an inspection period?

Typically, yes. This inspection period is normally 10 days long. It is designed so that the buyer can have a home inspection, termite inspection, septic inspection, survey (if desired) and appraisal completed. An appraisal is part of the inspection period.

The inspection is not designed to allow the contract to be re-negotiated. Generally this will kill the transaction if the buyer attempts this. The seller will not activate utilities if the condition of the property is deemed unsafe. Ask the listing agent for more information.

Can my agent provide me a home inspection?

No. A home inspection can only be performed by someone associated with ASHI (American Society of Home Inspectors) or NACHI (National Association of Certified Home Inspectors).

Will the seller pay my loan closing costs?

Closing costs, along with other aspects of the transaction, are subject to negotiation.

Does the seller accept FHA?

This depends on the seller and the condition of the property.

Will the seller finance the property?

This depends on the lender. If they do, it will be advertised as such.

22

What Our Clients Have to Say


««««« Highly Likely to Recommend05/08/2014 - Brian HainesBought a Single Family home in 2014 for approximately $250K in Hillsboro, OR.

Local knowledge: ««««« Process expertise: «««««Responsiveness: ««««« Negotiation skills: «««««

We had a two year relationship with the turners (Jenny). When our first home fell through on our end, Jenny picked us up and kept us moving. When we were finally able to work it out, she was there with the perfect home - the first one she took us to!

We cannot recommend the Turners highly enough.

Brian & Wendi

««««« Highly Likely to Recommend04/27/2014 - aaliyarBought a home in 2014.


Jenny is amazing. She is personable, knowledgeable, and trust worthy. She never wasted our time and was very patient with us. There were several bids for our house and she helped us be the chosen ones, without us exceeding our comfort zone with price. She would get back to us quickly with any concerns and more on top of everything than we could ever be. This is the third time we’ve bought a home and definitely the best experience we’ve had.

««««« Highly Likely to Recommend01/14/2014 - widmerSold a home in 2013.


Jenny Turner is absolutely fantastic at her job. All you would ever ask for in a realtor is for someone to be on your side and to help you uncover the questions you may not know, work with complete transparency and integrity but most of all be a team player. We have worked with Jenny several times for many different transactions and will continue to do so and will refer her on to those we trust.

««««« Highly Likely to Recommend04/25/2014 - user02520706Bought a home in 2014.


Jenny and Charles (and the rest of their team) are wonderful to work with. Jenny was great at digging in and advising us throughout the process. She seemed knowledgeable of the market and candid and honest when we needed her to be. Jenny, Charles and the rest of the team were flexible and timely through out the process.

««««« Highly Likely to Recommend04/25/2014 - westphal1738Bought a Single Family Home in 2014 in Tualatin, OR.


Jenny was a super star! She was very knowledgeable, narrowed down our choices and facilitated and advised all along the way. She was punctual, organized and very personable. I would recommend Jenny highly.

««««« Highly Likely to Recommend01/15/2014 - cwhite6Sold a home in 2013.


Our lake front home had been listed for about a year with another agent who was unsuccessful in selling it. We listed with the Turner team and they had our home sold in just a couple of months. They are professional, positive, and a pleasure to work with. Our phone calls were always quickly returned and they were open to any and all questions. We would definitely work with them again and recommend them to friends. Rick and Cheryl White

««««« Highly Likely to Recommend01/15/2014 - jidabugSold a home in 2013.


Jenny made every step of the process smooth and easy. When it came to looking at properties, she listened to our requirements and dreams, and encouraged us to look at an area we hadn’t considered...and wound up buying in. We bought our new house before putting our old one on the market, which was pretty daunting, but Jenny marketed it wonderfully, and it sold in a week with two offers! We couldn’t be happier with the service we received.

««««« Highly Likely to Recommend01/14/2014 - marascojjSold a Single Family Home in 2013 for approximately $400K in Wilsonville, OR.


Jenny is fantastic at what she does. I have used her services to both purchase and sell my homes and she never disappoints. It seems like she is available 24-7 and she does everything with a smile. Jenny is knowledgeable, professional, fun, understanding and precise. She has a ton of connections and all of them love her! I will always refer her to friends and family. If you need an agent, pick up your phone and enjoy the ride. Thanks Jenny!

23

What Our Clients Have to Say

««««« Highly Likely to Recommend01/15/2014 - audramclainSold a Single Family home in 2013 for approximatley $550K in Grant Park, Portland, OR.


Jenny is very knowledgeable and so helpful at guiding us through the selling and negotiating process. She was always there to talk through options and help get needed tasks done.

««««« Highly Likely to Recommend01/14/2014 - mmikeb182Sold a Single Family home in 2013 for approximately $475K in Oregon City, OR.


We were so pleased with the support we got from Jenny throughout our selling and purchasing process! With her insight, we had 5 great offers in the first 2 days. With staging help, pricing advice and fantastic marketing, we ended up with a bidding war. When it came time to buy a new house, Jenny was great about helping us think through what we needed and was so quick at responding to questions and requests. Our favorite line throughout the process was, “Jenny will know!” and she always did!

««««« Highly Likely to Recommend01/14/2014 - allie lorenzenBought a Single Family home in 2013 for approximately $325K in West Linn, OR.


We bought our home in Oregon while living out of state. The Turner Team was very accommodating to our less-than-ideal time frames. When we flew to OR, The Turner Team had developed a time-saving driving route of all the homes we had requested to see (along with other new listings that fell under our pricing and priorities). Because we have two small children, schools were an important part of our decision-making process. They were knowledgeable about local schools. As we were relatively new to the home-buying process, they were informative then hands-off so we could rank our must-haves in a home as a couple. I really appreciated their helpful, yet non-pushy approach. They were quick to move documents along to meet our move-in goals. We would recommend the Turner Team to anyone and already have!

««««« Highly Likely to Recommend01/14/2014 - Ryan FerrisSold a home in 2013.


I’ve worked with Jenny twice now when buying a home and once in selling a home. She is very responsive and detail oriented. I can’t say enough about how good she is at making you feel like you’re her only customer when that’s far from the case. I recommend her to anyone buying or selling a home in the Portland area!

««««« Highly Likely to Recommend12/17/2013 - kerryltongBought a Single Family home in 2013 for approximately $325K in Portland, OR.


We were purchasing a house from overseas and Charles and Jenny helped us as we processed through multiple homes until we found the right one for us. They were accessible at our odd hours, sent us videos as well as information and were very easy to work with. If we buy another home in the area I would definitely use them again!!

««««« Highly Likely to Recommend07/26/2013 - user0329862Bought a home in 2013.


We have worked with Charles and Jenny on two property acquisitions. Both properties had some unique challenges, and in both cases the navigation and assistance provided by Charles and Jenny were superb. I highly recommend this team and hope I have the chance to work with them again!

««««« Highly Likely to Recommend05/23/2013 - user50568Sold a Single Family home in 2012 in Silverton, OR.


Jenny Turner is by far the best realtor we have ever worked with. She represented us in selling our home as well as purchasing our new home. With her experience and knowledge she had our house sold to the first family that walked through it! We never dreamed our house would sell that fast since our neighbors house had been for sale for a year and was very similar to ours. Needless to say we were very happy.

Jenny also spent several months going from house to house looking for our dream home. With her patience and dedication she found us the perfect home for our family. With her negotiation skills she got us a great price as well as the extras we wanted! We couldn’t be happier with the Turner Team!

««««« Highly Likely to Recommend05/22/2013 - user7400373Sold a Single Family home in 2013 for approximately $150K in Portland, OR.


Jenny met our four “P’s” of an outstanding broker; punctuality, professionalism, price, and piece of mind. Jenny and her team are a 12 and above on a scale of 1-10. She worked with us on finding the best selling price for our home. As a result, our home sold in one day. We obviously had a great experience working with Jenny, and would highly recommend her.

See all of our reviews at www.zillow.com/profile/TurnerRealtors/Reviews

24

Oregon Real Estate Agency Disclosure Pamphlet (1 of 2)

Consumers: This pamphlet describes the legal obligations of real estate licensees in Oregon. Real estate brokers and principal real estate brokers are required to provide this information to you when they first meet you.

This pamphlet is informational only. Neither the pamphlet nor its delivery to you may be interpreted as evidence of intent to create an agency relationship between you and a broker or a principal broker.

Real Estate Agency RelationshipsAn “agency” relationship is a voluntary legal relationship in which a licensed real estate broker or principal broker (the “agent”) agrees to act on behalf of a buyer or a seller (the “client”) in a real estate transaction. Oregon law provides for three types of agency relationships between real estate agents and their clients:

• Seller’s Agent: Represents the seller only.• Buyer’s Agent: Represents the buyer only.

• Disclosed Limited Agent: Represents both the buyer and seller, or multiple buyers who want to purchase the same property. This can be done only with the written permission of all clients.

The actual agency relationships between the seller, buyer and their agents in a real estate transaction must be acknowledged at the time an offer to purchase is made. Please read this pamphlet carefully before entering into an agency relationship with a real estate agent.

Definition of “Confidential Information”Generally, licensees must maintain confidential information about their clients. “Confidential information” is information communicated to a real estate licensee or the licensee’s agent by the buyer or seller of one to four residential units regarding the real property transaction, including but not limited to price, terms, financial qualifications or motivation to buy or sell. “Confidential information” does not mean information that:

a. The buyer instructs the licensee or the licensee’s agent to disclose about the buyer to the seller, or the seller instructs the licensee or the licensee’s agent to disclose about the seller to the buyer; and

b. The licensee or the licensee’s agent knows or should know failure to disclose would constitute fraudulent representation.

Duties and Responsibilities of a Seller’s AgentUnder a written listing agreement to sell property, an agent represents only the seller unless the seller agrees in writing to allow the agent to also represent the buyer.

An agent who represents only the seller owes the following affirmative duties to the seller, the other parties and the other parties’ agents involved in a real estate transaction:

1. To deal honestly and in good faith;2. To present all written offers, notices

and other communications to and from the parties in a timely manner without regard to whether the property is subject to a contract for sale or the buyer is already a party to a contract to purchase; and

3. To disclose material facts known by the agent and not apparent or readily ascertainable to a party.

A seller’s agent owes the seller the following affirmative duties:

1. To exercise reasonable care and diligence;

2. To account in a timely manner for money and property received from or on behalf of the seller;

3. To be loyal to the seller by not taking action that is adverse or detrimental to the seller’s interest in a transaction;

4. To disclose in a timely manner to the seller any conflict of interest, existing or contemplated;

5. To advise the seller to seek expert advice on matters related to the transaction that are beyond the agent’s expertise;

6. To maintain confidential information from or about the seller except under subpoena or court order, even after termination of the agency relationship; and

7. Unless agreed otherwise in writing, to make a continuous, good faith effort

to find a buyer for the property, except that a seller’s agent is not required to seek additional offers to purchase the property while the property is subject to a contract for sale.

None of these affirmative duties of an agent may be waived, except (7). The affirmative duty listed in (7) can only be waived by written agreement between seller and agent.

Under Oregon law, a seller’s agent may show properties owned by another seller to a prospective buyer and may list competing properties for sale without breaching any affirmative duty to the seller.

Unless agreed to in writing, an agent has no duty to investigate matters that are outside the scope of the agent’s expertise, including but not limited to investigation of the condition of property, the legal status of the title or the seller’s past conformance with law.


25

Oregon Real Estate Agency Disclosure Pamphlet (2 of 2)

Duties and Responsibilities of a Buyer’s AgentAn agent, other than the seller’s agent, may agree to act as the buyer’s agent only. The buyer’s agent is not representing the seller, even if the buyer’s agent is receiving compensation for services rendered, either in full or in part, from the seller or through the seller’s agent.

An agent who represents only the buyer owes the following affirmative duties to the buyer, the other parties and the other parties’ agents involved in a real estate transaction:

1. To deal honestly and in good faith;2. To present all written offers, notices and other

communications to and from the parties in a timely manner without regard to whether the property is subject to a contract for sale or the buyer is already a party to a contract to purchase; and

3. To disclose material facts known by the agent and not apparent or readily ascertainable to a party.

A buyer’s agent owes the buyer the following affirmative duties:

1. To exercise reasonable care and diligence;2. To account in a timely manner for money and

property received from or on behalf of the buyer;3. To be loyal to the buyer by not taking action that

is adverse or detrimental to the buyer’s interest in a transaction;

4. To disclose in a timely manner to the buyer any conflict of interest, existing or contemplated;

5. To advise the buyer to seek expert advice on matters related to the transaction that are beyond the agent’s expertise;

6. To maintain confidential information from or about the buyer except under subpoena or court order, even after termination of the agency relationship; and

7. Unless agreed otherwise in writing, to make a continuous, good faith effort to find property for the buyer, except that a buyer’s agent is not required to seek additional properties for the buyer while the buyer is subject to a contract for purchase.

None of these affirmative duties of an agent may be waived, except (7). The affirmative duty listed in (7) can only be waived by written agreement between seller and agent.

Under Oregon law, a buyer’s agent may show properties in which the buyer is interested to other prospective buyers without breaching an affirmative duty to the buyer.

Unless agreed to in writing, an agent has no duty to investigate matters that are outside the scope of the agent’s expertise, including but not limited to investigation of the condition of property, the legal status of the title or the seller’s past conformance with law.

Duties and Responsibilities of an Agent Who Represents More than One Client in a TransactionOne agent may represent both the seller and the buyer in the same transaction, or multiple buyers who want to purchase the same property, only under a written “Disclosed Limited Agency Agreement” signed by the seller and buyer(s).

Disclosed Limited Agents have the following duties to their clients:

1. To the seller, the duties listed above for a seller’s agent;2. To the buyer, the duties listed above for a buyer’s agent; and3. To both buyer and seller, except with express written permission of the

respective person, the duty not to disclose to the other person:

a. That the seller will accept a price lower or terms less favorable than the listing price or terms;

b. That the buyer will pay a price greater or terms more favorable than the offering price or terms; or

c. Confidential information as defined above.

Unless agreed to in writing, an agent has no duty to investigate matters that are outside the scope of the agent’s expertise.

When different agents associated with the same principal broker (a real estate licensee who supervises other agents) establish agency relationships with different parties to the same transaction, only the principal broker will act as a Disclosed Limited Agent for both the buyer and seller. The other agents continue to represent only the party with whom the agents have already established an agency relationship unless all parties agree otherwise in writing. The principal real estate broker and the real estate licensees representing either seller or buyer shall owe the following duties to the seller and buyer:

1. To disclose a conflict of interest in writing to all parties;2. To take no action that is adverse or detrimental to either party’s interest

in the transaction; and3. To obey the lawful instructions of both parties.

No matter whom they represent, an agent must disclose information the agent knows or should know that failure to disclose would constitute fraudulent misrepresentation.

You are encouraged

to discuss the above information with the licensee

delivering this pamphlet to you. If you intend for that licensee, or any other

Oregon real estate licensee, to represent you as a Seller’s Agent, Buyer’s Agent, or Disclosed

Limited Agent, you should have a specific discussion with the agent about the nature and

scope of the agency relationship. Whether you are a buyer or seller, you cannot make a

licensee your agent without the licensee’s knowledge and consent, and an agent

cannot make you a client without your knowledge and

consent.