Paperwork Purgatory
This document estimates a buyer's total costs at closing.
What is a closing disclosure (or estimated buyers closing statement)?
This term describes the practice of guiding sellers through small renovations for maximum ROI before hitting the market.
What is pre-listing renovation management (aka Brooke's specialty)?
Buyers in Oregon typically have this many days to complete inspections, though it's negotiable.
What is 10 (business) days?
Landlords in Oregon must give this many days' notice for a rent increase in most cases.
What is 90 days?
This document legally binds a buyer and seller once signed by both parties.
What is the purchase and sale agreement?
This popular staging tactic involves removing personal items to help buyers envision themselves in the home.
What is depersonalizing (or decluttering)?
This term describes multiple buyers competing for the same property with offers above asking price.
What is a bidding war?
This Portland-specific tax applies to short-term rentals and lodging.
What is the Transient Lodging Tax?
This clause allows a buyer to back out of a contract if financing falls through.
What is a financing contingency?
This term describes small, budget-friendly upgrades made before listing to boost sale price.
What is cosmetic pre-listing renovation?
This term describes homes appraising for less than the agreed purchase price.
What is a low appraisal (or appraisal gap)?
This first-time homebuyer program offers down payment assistance in Oregon.
What is the Oregon Bond Loan Program?
This state agency oversees real estate licensing in Oregon.
What is the Oregon Real Estate Agency?
This eco-friendly certification is a selling point for energy-efficient Portland homes.
What is Earth Advantage certification?
This type of listing agreement gives one agent exclusive rights to sell the property.
What is an exclusive right-to-sell listing?
Sellers must disclose if a property is located in this natural hazard zone, common near the coast and rivers.
What is a flood zone?
This Oregon-required document discloses known issues with a property before sale.
What is a Seller's Property Disclosure Statement?
This type of Portland housing, often found in older neighborhoods, is a separate unit for rental income.
What is an ADU (accessory dwelling unit)?
This is the standard commission structure real estate agents in Portland typically negotiate with sellers.
What is a percentage-based commission?
This networking organization, which uses a structured referral system, has chapters throughout Portland.
What is BNI?