Chapter 328 Oregon Laws 2003
AN ACT
SB 515
Relating to real estate disclosure; creating new provisions; and amending ORS 105.465, 105.470, 105.475, 105.480, 105.485 and 105.490.
Be It Enacted by the People of the State of
Oregon:
SECTION 1. ORS 105.465 is amended to read:
105.465. (1) The provisions of ORS 105.465 to 105.490, 696.301 and 696.870:
(a) Apply to the real property described in subparagraphs (A) to (D) of this paragraph unless the buyer indicates to the seller, which indication shall be conclusive, that the buyer will use the real property for purposes other than a residence for the buyer or the buyer’s spouse, parent or child:
(A) Real property consisting of or improved by one to four dwelling units;
(B) A condominium unit as defined in ORS 100.005 and not subject to disclosure under ORS 100.705;
(C) A timeshare property as defined in ORS 94.803 and not subject to disclosure under ORS 94.829; and
(D) A manufactured dwelling, as defined in ORS 446.003, that is owned by the same person who owns the land upon which the manufactured dwelling is situated.
(b) Do not apply to a leasehold in real property.
[(2) A seller shall deliver one of the following to each buyer who makes a written offer to purchase real property in this state:]
[(a) A written disclaimer that the seller makes no representations or warranties as to the condition of the real property or any improvement thereon and that the buyer will be purchasing the property “as is,” that is, with all defects, if any; or]
[(b) A seller’s property disclosure statement in substantially the following form:]
[____________________________________________________________________________]
SELLER’S PROPERTY DISCLOSURE
STATEMENT
(NOT A WARRANTY)
(105.465)
INSTRUCTIONS TO THE SELLER
Please complete the following form. Do not leave any spaces blank unless the question clearly does not apply to the property. Please refer to the line number(s) of the question(s) when you provide your explanation(s). For your protection you must date and sign each page of this disclosure statement and each attachment.
NOTICE TO THE BUYER
THE FOLLOWING REPRESENTATIONS ARE MADE BY THE SELLER(S), CONCERNING THE CONDITION OF THE PROPERTY LOCATED AT __________. (“THE PROPERTY”).
DISCLOSURES CONTAINED IN THIS FORM ARE PROVIDED BY THE SELLER ON THE BASIS OF SELLER’S ACTUAL KNOWLEDGE OF THE PROPERTY AT THE TIME OF DISCLOSURE. YOU HAVE FIVE BUSINESS DAYS FROM THE SELLER’S DELIVERY OF THIS SELLER’S DISCLOSURE STATEMENT TO REVOKE YOUR OFFER BY DELIVERING YOUR SEPARATE SIGNED WRITTEN STATEMENT OF REVOCATION TO THE SELLER, UNLESS YOU WAIVE THIS RIGHT AT OR PRIOR TO ENTERING INTO A SALE AGREEMENT.
FOR A MORE COMPREHENSIVE EXAMINATION OF THE SPECIFIC CONDITION OF THIS PROPERTY YOU ARE ADVISED TO OBTAIN AND PAY FOR THE SERVICES OF A QUALIFIED SPECIALIST TO INSPECT THE PROPERTY ON YOUR BEHALF, FOR EXAMPLE, ARCHITECTS, ENGINEERS, PLUMBERS, ELECTRICIANS, ROOFERS, BUILDING INSPECTORS, OR PEST AND DRY ROT INSPECTORS.
Seller:__________. is/_____. is not occupying the property.
I. SELLER’S REPRESENTATIONS:
The
following are representations
made
by the seller and are not the
representations
of any financial
institution
that may have made or
may
make a loan pertaining to
the
property, or that may have or
take
a security interest in the
property.
1. TITLE
[
]Yes[ ]No A. Do you have legal
authority
to sell the
property?
[
]Yes[ ]No * B. To your knowledge, is
title
to the property
subject
to any of the
following:
(1) First right of refusal
(2) Option
(3) Lease or rental
agreement
(4) Other listing
(5) Life estate?
[
]Yes[ ]No * C. Are you aware of any
encroachments,
bound-
ary
agreements, bound-
ary
disputes or recent
boundary
changes?
[
]Yes[ ]No * D. Are you aware of any
rights
of way, ease-
ments
or licenses
(access
limitations)
that
may affect your
interest
in the
property?
[
]Yes[ ]No * E. Are you aware of any
written
agreements for
joint
maintenance of
an
easement or right
of
way?
[
]Yes[ ]No F. Are you aware of
any
governmental
study,
survey
or notices that
would
affect the
property?
[
]Yes[ ]No G. Are you aware of any
pending
or existing
assessments
against the
property?
[
]Yes[ ]No H. Are you aware of
any
zoning
violations or
nonconforming
uses?
[
]Yes[ ]No * I. Are you aware of a
boundary
survey for the
property?
[
]Yes[ ]No * J. Are you aware of any
covenants,
conditions
or
restrictions which
affect
the property?
2. WATER
A. Household Water
(1) The
source of the
water
is:
[ ]Public[
]Community
[ ]Private[
]Shared
(2) Water source infor-
mation:
[
]Yes[ ]No *a. Are you aware
of
any written
agreements
for
shared
water
source?
[
]Yes[ ]No *b. To your knowl-
edge,
is there
an
easement
(recorded
or
unrecorded)
for
access to
and/or
main-
tenance
of the
water
source?
[
]Yes[ ]No c. Are any known
problems
or
repairs
needed?
[
]Yes[ ]No (3) Are you aware
of
any
water treat-
ment
systems for
the
property?
[ ]Leased[ ]Owned
B. Irrigation
[
]Yes[ ]No (1) Are you aware of
any
water rights
for
the property?
[
]Yes[ ]No *(2) If there exist any,
to
your knowledge,
have
the water
water
rights been
used
during the last
five-year
period?
[
]Yes[ ]No *(3) If so, is the certi-
ficate
available?
C. Outdoor Sprinkler
system
[
]Yes[ ]No (1) To your knowledge,
is
there an outdoor
sprinkler
system for
the
property?
[
]Yes[ ]No (2) To your
knowledge,
has
a back flow
valve
been
installed?
[
]Yes[ ]No (3) To your
knowledge,
is
the outdoor
sprinkler
system
operable?
3. SEWAGE
[
]Yes[ ]No A. To your knowledge,
is
the
property connected
to
a sanitary sewer?
[
]Yes[ ]No B. Are you aware of
any
sanitary
sewer
proposed
for the
property?
[
]Yes[ ]No C. To your knowledge,
is
the
property connected
to
a septic system or
cesspool?
[
]Yes[ ]No D. Are you aware of
any
problems
or repairs
needed?
[
]Yes[ ]No E. To your knowledge,
does
your sewage
system
require on-site
pumping
to another
level?
4. INSULATION
A. To
your knowledge, is
there
insulation in the:
[
]Yes[ ]No (1) Ceiling?
[
]Yes[ ]No (2) Exterior
walls?
[
]Yes[ ]No (3) Floors?
[
]Yes[ ]No B. To your knowledge,
are
there any
defective
insulated
windows?
5. STRUCTURAL
[
]Yes[ ]No *A. To your knowledge,
has
the roof leaked?
[
]Yes[ ]No If yes, has it been
repaired?
[
]Yes[ ]No B. Additions/conversions/
remodeling?
[
]Yes[ ]No * If yes, are you
aware
of
whether a building
permit
was obtained?
[
]Yes[ ]No Was final inspection
obtained?
[
]Yes[ ]No C. To your knowledge,
are
there smoke
alarms?
[
]Yes[ ]No If there are, which are
electrical
(hard-wired)?
__________
[
]Yes[ ]No D. To your knowledge, is
there
a woodstove?
Make:__________
[
]Yes[ ]No Was it installed with a
permit?
[
]Yes[ ]No *E. Are you aware of
whether
a pest or
dry
rot, structural
or
“whole house”
inspection
has
been
done?
[
]Yes[ ]No *F. Are you aware of any
moisture
problems in the
structure
(especially
in
the basement)? If
yes,
explain frequency
and
extent of prob-
lem
on attached sheet
[
]Yes[ ]No G. Are you aware of a
sump
pump on the
property?
6. SYSTEMS AND FIXTURES
If the following systems or
fixtures
are included in the
purchase
price, are they, to
your
knowledge, in good
working
order on the date
this
form is signed?
[
]Yes[ ]No A. Electrical system,
including
wiring,
switches,
outlets
and
service
[
]Yes[ ]No B. Plumbing system,
including
pipes,
faucets,
fixtures
and
toilets
[
]Yes[ ]No C. Hot water tank
[
]Yes[ ]No D. Garbage disposal
[
]Yes[ ]No E. Built-in range and
oven
[
]Yes[ ]No F. Built-in dishwasher
[
]Yes[ ]No G. Sump pump
[
]Yes[ ]No H. Heating and cooling
systems
[
]Yes[ ]No I. Security system
[ ]Owned[
]Leased
7. COMMON INTEREST
[
]Yes[ ]No A. Home Owners’
Association?
Name
of Association
____________.
Contact
Person
________
Address
________
Phone
Number
________
[
]Yes[ ]No B. Regular periodic
assessments:
$______.
per[ ] Month [
] Year
[ ] Other_____
[
]Yes[ ]No C. Are you aware of any
pending
special
assessments?
[
]Yes[ ]No D. Are you aware of any
shared
“common
areas”
or any joint
maintenance
agree-
ments
(facilities such
as
walls, fences, pools,
tennis
courts, walk-
ways
or other areas
co-owned
in undivided
interest
with others)?
8. GENERAL
[
]Yes[ ]No A. Are you aware of any
settling,
soil, standing
water
or drainage
problems
on the
property
or in the
immediate
area?
[
]Yes[ ]No B. To your knowledge,
does
the property
contain
fill?
[
]Yes[ ]No C. Are you aware of any
material
damage to the
property
or any of the
structure
from fire,
wind,
floods, beach
movements,
earthquake,
expansive
soils
or
landslides?
[
]Yes[ ]No D. To your knowledge, is
the
property in a
designated
flood plain?
[
]Yes[ ]No E. To your knowledge,
is
the
property in a
designated
slide zone?
[
]Yes[ ]No F. Are you aware of any
substances,
materials
or
products that may
be
an environmental
hazard
such as, but
not
limited to,
asbestos,
formaldehyde,
radon
gas, lead based
paint,
fuel or
chemical
storage
tanks,
and contaminated
soil
or water on the
subject
property?
[
]Yes[ ]No G. Are you aware of any
tanks
or underground
storage
tanks (e.g.,
septic,
chemical, fuel,
etc.)
on the property?
[
]Yes[ ]No H. To your knowledge,
has
the property ever
been
used as an
illegal
drug manu-
facturing
site?
9. FULL DISCLOSURE BY
SELLERS
A. Other conditions or
defects
[ ]Yes[ ]No Are
you aware of any
other
material defects
affecting
this prop-
erty
or its value that
a
prospective buyer
should
know about?
B. Verification
The
foregoing answers
and
attached explan-
ations
(if any) are
complete
and correct
to
the best of my/our
knowledge
and I/we
have
received a copy
hereof.
I/we authorize
all
of my/our agents
to
deliver a copy of
this
disclosure state-
ment
to other real
estate
licensees and
all
prospective buyers
of the property.
DATE _____ SELLER _________________
SELLER ____________________________
II. BUYER’S
ACKNOWLEDGMENT
A. As buyer(s), I/we
acknowledge
the duty
to
pay diligent
attention
to any
material
defects which
are
known to me/us or
can
be known by me/us
by
utilizing diligent
attention
and observation.
B. Each buyer acknowledges
and
understands that the
disclosures
set forth in
this
statement and in any
amendments
to this
statement
are made only
by
the seller and are not
the
representations of any
financial
institution that
may
have made or may
make
a loan pertaining to
the
property, or that may
have
or take a security
interest
in the property
and
no such financial
institution
shall be
bound
by or have any
liability
with respect to
any
representation, mis-
representation,
omission,
error
or inaccuracy
contained
in another
party’s
disclosure state-
ment
required by this
section
or any amendment
to
the disclosure
statement.
C. Buyer (which term includes
all
persons signing the
“buyer’s
acceptance”
portion
of this disclosure
statement
below) hereby
acknowledges
receipt of
a
copy of this disclosure
statement
(including
attachments,
if any)
bearing seller’s signature.
DISCLOSURES CONTAINED IN THIS FORM ARE PROVIDED BY THE SELLER ON THE BASIS OF SELLER’S ACTUAL KNOWLEDGE OF THE PROPERTY AT THE TIME OF DISCLOSURE. YOU, THE BUYER, HAVE FIVE BUSINESS DAYS FROM THE SELLER’S DELIVERY OF THIS SELLER’S DISCLOSURE STATEMENT TO REVOKE YOUR OFFER BY DELIVERING YOUR SEPARATE SIGNED WRITTEN STATEMENT OF REVOCATION TO THE SELLER UNLESS YOU WAIVE THIS RIGHT AT OR PRIOR TO ENTERING INTO A SALE AGREEMENT.
BUYER HEREBY ACKNOWLEDGES RECEIPT OF A COPY
OF THIS SELLER’S DISCLOSURE STATEMENT.
DATE ___________
BUYER _______________________________
BUYER _______________________________
Agent to sign and date:
______________________Real Estate Licensee
______________________Real Estate Business
*If yes, attach a copy or explain on attached sheet
[____________________________________________________________________________]
(2) Except as provided in ORS 105.475 (4), a seller shall complete, sign and deliver a seller’s property disclosure statement as set forth in section 3 of this 2003 Act to each buyer who makes a written offer to purchase real property in this state.
SECTION 2. Sections 3 and 4 of this 2003 Act are added to and made a part of ORS 105.465 to 105.490.
SECTION 3. A seller’s property disclosure statement must be in substantially the following form:
____________________________________________________________________________
If required under ORS 105.465, a seller shall deliver in substantially the following form the seller’s property disclosure statement to each buyer who makes a written offer to purchase real property in this state:
____________________________________________________________________________
INSTRUCTIONS TO THE SELLER
Please complete the following form. Do not leave any spaces blank. Please refer to the line number(s) of the question(s) when you provide your explanation(s). If you are not claiming an exclusion or refusing to provide the form under ORS 105.475 (4), you should date and sign each page of this disclosure statement and each attachment.
Each seller of residential property described in ORS 105.465 must deliver this form to each buyer who makes a written offer to purchase. Under ORS 105.475 (4), refusal to provide this form gives the buyer the right to revoke their offer at any time prior to closing the transaction. Use only the section(s) of the form that apply to the transaction for which the form is used. If you are claiming an exclusion under ORS 105.470, fill out only Section 1.
An exclusion may be claimed only if the seller qualifies for the exclusion under the law. If not excluded, the seller must disclose the condition of the property or the buyer may revoke their offer to purchase anytime prior to closing the transaction. Questions regarding the legal consequences of the seller’s choice should be directed to a qualified attorney.
____________________________________________________________________________
(DO NOT FILL OUT THIS SECTION UNLESS YOU ARE CLAIMING AN EXCLUSION UNDER ORS 105.470)
Section 1. EXCLUSION FROM ORS 105.465 TO 105.490:
You may claim an exclusion under ORS 105.470 only if you qualify under the statute. If you are not claiming an exclusion, you must fill out Section 2 of this form completely.
Initial only the exclusion you wish to
claim.
_____This is the first sale of a dwelling
never occupied. The dwelling is constructed or installed under building or
installation permit(s) #_____, issued by________________.
_____This sale is by a financial
institution that acquired the property as custodian, agent or trustee, or by
foreclosure or deed in lieu of foreclosure.
_____The seller is a court appointed
receiver, personal representative, trustee, conservator or guardian.
_____This sale or transfer is by a governmental agency.
__________________________________
Signature(s) of Seller claiming exclusion
Date ___________
__________________________________
Buyer(s) to acknowledge Seller’s claim
Date ___________
______________________________________________________________________________
(IF YOU DID NOT CLAIM AN EXCLUSION IN SECTION 1, YOU MUST FILL OUT THIS SECTION.)
Section 2. SELLER’S PROPERTY DISCLOSURE STATEMENT
(NOT A WARRANTY)
(ORS ____ (SECTION 3 OF THIS 2003 ACT))
NOTICE TO THE BUYER:
THE FOLLOWING REPRESENTATIONS ARE MADE BY THE SELLER(S) CONCERNING THE CONDITION OF THE PROPERTY LOCATED AT _____________________ (“THE PROPERTY”).
DISCLOSURES CONTAINED IN THIS FORM ARE PROVIDED BY THE SELLER ON THE BASIS OF SELLER’S ACTUAL KNOWLEDGE OF THE PROPERTY AT THE TIME OF DISCLOSURE. BUYER HAS FIVE DAYS FROM THE SELLER’S DELIVERY OF THIS SELLER’S DISCLOSURE STATEMENT TO REVOKE BUYER’S OFFER BY DELIVERING BUYER’S SEPARATE SIGNED WRITTEN STATEMENT OF REVOCATION TO THE SELLER DISAPPROVING THE SELLER’S DISCLOSURE STATEMENT, UNLESS BUYER WAIVES THIS RIGHT AT OR PRIOR TO ENTERING INTO A SALE AGREEMENT.
FOR A MORE COMPREHENSIVE EXAMINATION OF THE SPECIFIC CONDITION OF THIS PROPERTY, BUYER is ADVISED TO OBTAIN AND PAY FOR THE SERVICES OF A QUALIFIED SPECIALIST TO INSPECT THE PROPERTY ON BUYER’S BEHALF INCLUDING, FOR EXAMPLE, ONE OR MORE OF THE FOLLOWING: ARCHITECTS, ENGINEERS, PLUMBERS, ELECTRICIANS, ROOFERS, ENVIRONMENTAL INSPECTORS, BUILDING INSPECTORS, CERTIFIED HOME INSPECTORS, OR PEST AND DRY ROT INSPECTORS.
Seller ___ is/ ___ is not occupying the property.
I. SELLER’S REPRESENTATIONS:
The following are representations made by the seller and are not the representations of any financial institution that may have made or may make a loan pertaining to the property, or that may have or take a security interest in the property, or any real estate licensee engaged by the seller or the buyer.
*If you mark yes on items with *, attach a copy or explain on an attached sheet.
1. TITLE
A. Do you have legal authority to sell the
property? [ ]Yes [
]No [ ]Unknown
*B. Is
title to the property subject to any of the
following: [ ]Yes [
]No [ ]Unknown
(1) First right of refusal
(2) Option
(3) Lease or rental agreement
(4) Other listing
(5) Life estate?
*C. Are there any encroachments, boundary
agreements,
boundary disputes or recent
boundary
changes? [ ]Yes [
]No [ ]Unknown
*D. Are there any rights of way, easements,
licenses,
access limitations or claims that
may
affect your interest in the property? [ ]Yes [
]No [ ]Unknown
*E. Are there any agreements for joint
maintenance
of an easement or right of way? [ ]Yes [
]No [ ]Unknown
*F. Are there any governmental studies,
designations,
zoning
overlays, surveys or notices that would
affect
the property? [ ]Yes [
]No [ ]Unknown
*G. Are there any pending or existing governmental
assessments
against the property? [ ]Yes [
]No [ ]Unknown
*H. Are there any zoning violations or
nonconforming
uses? [ ]Yes [
]No [ ]Unknown
*I. Is there a boundary survey for the property? [ ]Yes [
]No [ ]Unknown
*J. Are there any covenants, conditions,
restrictions
or private assessments that
affect
the property? [ ]Yes [
]No [ ]Unknown
*K. Is the property subject to any special tax
assessment
or tax treatment that may result
in
levy of additional taxes if the property
is
sold? [ ]Yes [
]No [ ]Unknown
2. WATER
A. Household water
(1) The source of the water is (check ALL that
apply):
[ ]Public [
]Community [ ]Private
[ ]Other _____
(2) Water source information:
*a. Does the water source require a water permit? [ ]Yes [
]No [ ]Unknown
If
yes, do you have a permit? [ ]YES
[ ]NO
b. Is the water source located on the property? [ ]Yes [
]No [ ]Unknown
*If
not, are there any written agreements for
a
shared water source? [ ]Yes [
]No [ ]Unknown [ ]NA
*c. Is there an easement (recorded or unrecorded)
for
your access to or maintenance of the water
source? [
]Yes [
]No [ ]Unknown
d. If the source of water is from a well or
spring,
have
you had any of the following in the past
12
months? [ ]Flow test [ ]Bacteria test
[ ]Chemical contents test [ ]Yes [
]No [ ]Unknown [ ]NA
*e. Are there any water source plumbing problems
or
needed repairs? [ ]Yes [
]No [ ]Unknown
(3) Are there any water treatment systems for
the
property? [ ]Yes [
]No [ ]Unknown
[ ]Leased [
]Owned
B. Irrigation
(1) Are there any [ ] water rights or [ ] other
irrigation
rights for the property? [ ]Yes [
]No [ ]Unknown
*(2) If any exist, has the irrigation water been
used
during the last five-year period? [ ]Yes [
]No [ ]Unknown [ ]NA
*(3) Is there a water rights certificate or other
written
evidence available? [ ]Yes [
]No [ ]Unknown [ ]NA
C. Outdoor sprinkler system
(1) Is there an outdoor sprinkler system for the
property? [ ]Yes [
]No [ ]Unknown
(2) Has a back flow valve been installed? [ ]Yes [
]No [ ]Unknown [ ]NA
(3) Is the outdoor sprinkler system operable? [ ]Yes [
]No [ ]Unknown [ ]NA
3. SEWAGE SYSTEM
A. Is the property connected to a public or
community
sewage system? [ ]Yes [
]No [ ]Unknown
B. Are there any new public or community sewage
systems
proposed for the property? [ ]Yes [
]No [ ]Unknown
C. Is the property connected to an on-site
septic
system? [ ]Yes [
]No [ ]Unknown
If
yes, was it installed by permit? [ ]Yes [
]No [ ]Unknown [ ]NA
*Has
the system been repaired or altered? [ ]Yes [
]No [ ]Unknown
Has
the condition of the system been
evaluated
and a report issued? [ ]Yes [
]No [ ]Unknown
Has
it ever been pumped? [ ]Yes [
]No [ ]Unknown [ ]NA
If
yes, when? __________
*D. Are there any sewage system problems or
needed
repairs? [ ]Yes [
]No [ ]Unknown
E. Does your sewage system require on-site
pumping
to another level? [ ]Yes [
]No [ ]Unknown
4. DWELLING INSULATION
A. Is there insulation in the:
(1) Ceiling? [ ]Yes [
]No [ ]Unknown
(2) Exterior walls? [ ]Yes [
]No [ ]Unknown
(3) Floors? [ ]Yes [
]No [ ]Unknown
B. Are there any defective insulated doors or
windows? [ ]Yes [
]No [ ]Unknown
5. DWELLING STRUCTURE
*A. Has the roof leaked? [ ]Yes [
]No [ ]Unknown
If
yes, has it been repaired? [ ]Yes [
]No [ ]Unknown [ ]NA
B. Are there any additions, conversions or
remodeling? [ ]Yes [
]No [ ]Unknown
If
yes, was a building permit required? [ ]Yes [
]No [ ]Unknown [ ]NA
If
yes, was a building permit obtained? [ ]Yes [
]No [ ]Unknown [ ]NA
If
yes, was final inspection obtained? [ ]Yes [
]No [ ]Unknown [ ]NA
C. Are there smoke alarms or detectors? [ ]Yes [
]No [ ]Unknown
D. Is there a woodstove included in the sale? [ ]Yes [
]No [ ]Unknown
Make
__________
*E. Has pest and dry rot, structural or
“whole
house” inspection been done
within
the last three years? [ ]Yes [
]No [ ]Unknown
*F. Are there any moisture problems, areas of
water
penetration, mildew odors or other
moisture
conditions (especially in the
basement)? [ ]Yes [
]No [ ]Unknown
*If
yes, explain on attached sheet the frequency and
extent
of problem and any insurance claims,
repairs
or remediation done.
G. Is there a sump pump on the property? [ ]Yes [
]No [ ]Unknown
H. Are there any materials used in the
construction
of the structure that are or
have
been the subject of a recall, class
action suit, settlement or litigation? [ ]Yes [
]No [ ]Unknown
If
yes, what are the materials? _____
(1) Are there problems with the materials? [ ]Yes [
]No [ ]Unknown [ ]NA
(2) Are the materials covered by a warranty? [ ]Yes [
]No [ ]Unknown [ ]NA
(3) Have the materials been inspected? [ ]Yes [
]No [ ]Unknown [ ]NA
(4) Have there ever been claims filed for these
materials
by you or by previous owners? [ ]Yes [
]No [ ]Unknown [ ]NA
If
yes, when? _____
(5) Was money received? [ ]Yes [
]No [ ]Unknown [ ]NA
(6) Were any of the materials repaired or
replaced? [ ]Yes [
]No [ ]Unknown [ ]NA
6. DWELLING SYSTEMS AND FIXTURES
If
the following systems or fixtures are included
in
the purchase price, are they in good working
order
on the date this form is signed?
A. Electrical system, including wiring,
switches,
outlets
and service [ ]Yes [
]No [ ]Unknown
B. Plumbing system, including pipes, faucets,
fixtures
and toilets [ ]Yes [
]No [ ]Unknown
C. Water heater tank [ ]Yes [
]No [ ]Unknown
D. Garbage disposal [ ]Yes [
]No [ ]Unknown [ ]NA
E. Built-in range and oven [ ]Yes [
]No [ ]Unknown [ ]NA
F. Built-in dishwasher [ ]Yes [
]No [ ]Unknown [ ]NA
G. Sump pump [ ]Yes [
]No [ ]Unknown [ ]NA
H. Heating and cooling systems [ ]Yes [
]No [ ]Unknown [ ]NA
I. Security system [ ]Owned [
]Leased [ ]Yes [
]No [ ]Unknown [ ]NA
J. Are there any materials or products used in
the
systems and fixtures that are or have
been
the subject of a recall, class action
settlement
or other litigations? [ ]Yes [
]No [ ]Unknown
If
yes, what product? __________
(1) Are there problems with the product? [ ]Yes [
]No [ ]Unknown
(2) Is the product covered by a warranty? [ ]Yes [
]No [ ]Unknown
(3) Has the product been inspected? [ ]Yes [
]No [ ]Unknown
(4) Have claims been filed for this product
by you or by previous owners? [ ]Yes [
]No [ ]Unknown
If
yes, when? __________
(5) Was money received? [ ]Yes [
]No [ ]Unknown
(6) Were any of the materials or products
repaired
or
replaced? [ ]Yes [
]No [ ]Unknown
7. COMMON INTEREST
A. Is there a Home Owners’ Association
or
other governing entity? [ ]Yes [
]No [ ]Unknown
Name
of Association or Other Governing
Entity
__________
Contact
Person ____________
Address
_______________
Phone
Number ____________
B. Regular periodic assessments: $___
per
[ ]Month [ ]Year[
]Other ___
*C. Are there any pending or proposed special
assessments? [ ]Yes [
]No [ ]Unknown
D. Are there shared “common areas” or joint
maintenance
agreements for facilities like
walls,
fences, pools, tennis courts, walkways
or
other areas co-owned in undivided interest
with
others? [ ]Yes [
]No [ ]Unknown
E. Is the Home Owners’ Association or other
governing
entity a party to pending litigation
or
subject to an unsatisfied judgment? [ ]Yes [
]No [ ]Unknown [ ]NA
F. Is the property in violation of recorded
covenants,
conditions and restrictions or in
violation
of other bylaws or governing rules,
whether
recorded or not? [ ]Yes [
]No [ ]Unknown [ ]NA
8. GENERAL
A. Are there problems with settling, soil,
standing
water or drainage on the property
or
in the immediate area? [ ]Yes [
]No [ ]Unknown
B. Does the property contain fill? [ ]Yes [
]No [ ]Unknown
C. Is there any material damage to the property
or
any
of the structure(s) from fire, wind, floods,
beach
movements, earthquake, expansive soils
or
landslides? [ ]Yes [
]No [ ]Unknown
D. Is the property in a designated floodplain? [ ]Yes [
]No [ ]Unknown
E. Is the property in a designated slide or
other
geologic
hazard zone? [ ]Yes [
]No [ ]Unknown
*F. Has any portion of the property been tested
or
treated for asbestos, formaldehyde, radon
gas,
lead-based paint, mold, fuel or chemical
storage
tanks or contaminated soil or water?
[ ]Yes [ ]No [
]Unknown
G. Are there any tanks or underground storage
tanks
(e.g., septic, chemical, fuel, etc.)
on
the property? [ ]Yes [
]No [ ]Unknown
H. Has the property ever been used as an illegal
drug
manufacturing or distribution site? [ ]Yes [
]No [ ]Unknown
*If
yes, was a Certificate of Fitness issued?
[ ]Yes [ ]No [
]Unknown
9. FULL DISCLOSURE BY SELLERS
*A. Are there any other material defects
affecting
this property or its value
that
a prospective buyer should
know
about? [ ]Yes [
]No
*If
yes, describe the defect on attached sheet
and
explain the frequency and extent of the
problem
and any insurance claims, repairs or
remediation.
B. Verification:
The
foregoing answers and attached explanations (if any) are complete and correct
to the best of my/our knowledge and I/we have received a copy of this
disclosure statement. I/we authorize my/our agents to deliver a copy of this
disclosure statement to all prospective buyers of the property or their agents.
Seller(s)
signature:
SELLER
________________________________ DATE ____________
SELLER
________________________________
DATE ____________
____________________________________________________________________________
II. BUYER’S ACKNOWLEDGMENT
A. As buyer(s), I/we acknowledge the duty to pay diligent attention to any material defects that are known to me/us or can be known by me/us by utilizing diligent attention and observation.
B. Each buyer acknowledges and understands that the disclosures set forth in this statement and in any amendments to this statement are made only by the seller and are not the representations of any financial institution that may have made or may make a loan pertaining to the property, or that may have or take a security interest in the property, or of any real estate licensee engaged by the seller or buyer. A financial institution or real estate licensee is not bound by and has no liability with respect to any representation, misrepresentation, omission, error or inaccuracy contained in another party’s disclosure statement required by this section or any amendment to the disclosure statement.
C. Buyer (which term includes all persons signing the “buyer’s acknowledgment” portion of this disclosure statement below) hereby acknowledges receipt of a copy of this disclosure statement (including attachments, if any) bearing seller’s signature(s).
DISCLOSURES, IF ANY, CONTAINED IN THIS FORM ARE PROVIDED BY THE SELLER ON THE BASIS OF SELLER’S ACTUAL KNOWLEDGE OF THE PROPERTY AT THE TIME OF DISCLOSURE. IF THE SELLER HAS FILLED OUT SECTION 2 OF THIS FORM, YOU, THE BUYER, HAVE FIVE DAYS FROM THE SELLER’S DELIVERY OF THIS DISCLOSURE STATEMENT TO REVOKE YOUR OFFER BY DELIVERING YOUR SEPARATE SIGNED WRITTEN STATEMENT OF REVOCATION TO THE SELLER DISAPPROVING THE SELLER’S DISCLOSURE UNLESS YOU WAIVE THIS RIGHT AT OR PRIOR TO ENTERING INTO A SALE AGREEMENT.
BUYER HEREBY ACKNOWLEDGES RECEIPT OF A COPY OF THIS SELLER’S PROPERTY DISCLOSURE STATEMENT.
BUYER _____________________________________
DATE ____________
BUYER _____________________________________
DATE ____________
Agent receiving disclosure statement on buyer’s behalf to sign and date:
_______________________________________Real
Estate Licensee
_______________________________________Real Estate Firm
Date received by agent _________________
____________________________________________________________________________
SECTION
4. For purposes of ORS 105.465
to 105.490:
(1)
“Financial institution” has the meaning given that term in ORS 706.008.
“Financial institution” includes mortgage bankers and mortgage brokers, as
those terms are defined in ORS 59.840, and consumer finance companies licensed
under ORS chapter 725.
(2) “Real estate licensee” has the meaning given that term in ORS 696.010.
SECTION 5. ORS 105.470 is amended to read:
105.470. ORS 105.465 to 105.490, 696.301 and 696.870 do not apply to:
(1) The first sale of a dwelling never occupied, provided that the seller provides the buyer with the following statement on or before the date the buyer is legally obligated to purchase the subject real property: “THIS HOME WAS CONSTRUCTED OR INSTALLED UNDER BUILDING OR INSTALLATION PERMIT(S) #__, ISSUED BY ___.”
(2) Sales by financial institutions that acquired the property as custodian, agent or trustee, or by foreclosure or deed in lieu of foreclosure.
[(3) Court appointed receivers, personal representatives, trustees, conservators or guardians.]
[(4) A seller who has never occupied any part of the real property, provided the seller represents in writing that the seller has no knowledge of any material defects in the real property except for those set out in the writing, and further provided that the seller advises the buyer in writing to obtain a qualified inspector.]
(3)
The following sellers, if appointed by a court:
(a)
Receivers;
(b)
Personal representatives;
(c)
Trustees;
(d)
Conservators; or
(e) Guardians.
[(5)] (4) Sales or transfers by governmental agencies.
SECTION 6. ORS 105.475 is amended to read:
105.475. [(1) The following statement shall be included in the body of a seller’s disclaimer: “YOU HAVE SEVEN BUSINESS DAYS FROM SELLER’S DELIVERY OF THIS DISCLAIMER TO REVOKE YOUR OFFER BY DELIVERING YOUR SIGNED WRITTEN STATEMENT TO SELLER TO THAT EFFECT. YOU HAVE AN OBLIGATION TO PERFORM WITH DUE DILIGENCE YOUR OFFER TO PURCHASE IN GOOD FAITH.”]
[(2) If a seller issues a disclaimer and a buyer has not then delivered to the seller a written statement waiving the buyer’s right to revoke the buyer’s offer, the buyer shall have seven business days after delivery of the disclaimer to revoke the buyer’s offer by delivering to the seller a separate signed written statement to that effect.]
[(3)] (1) If a seller issues a seller’s property disclosure statement and a buyer has not then delivered to the seller a written statement waiving the buyer’s right to revoke the buyer’s offer, the buyer shall have five business days after delivery of the seller’s property disclosure statement to revoke the buyer’s offer by delivering to the seller a separate signed written statement [to that effect] of revocation disapproving the seller’s disclosure.
[(4)] (2) If a buyer fails to timely deliver to a seller a written statement revoking the buyer’s offer, the buyer’s right to revoke the buyer’s offer expires.
[(5)] (3) If a buyer closes the transaction, the buyer’s right to revoke based on ORS 105.465 to 105.490, 696.301 and 696.870 is terminated.
[(6)] (4) If the seller fails or refuses to provide a [disclosure or disclaimer] seller’s property disclosure statement as required under this section, the buyer shall have a right of revocation until [such] the right is terminated pursuant to subsection [(5)] (3) of this section.
[(7)] (5) If the buyer revokes the offer pursuant to [subsections (2) to (9) of] this section, notwithstanding ORS 696.581, the buyer [shall be] is entitled to immediate return of all deposits and other considerations delivered to any party or escrow agent with respect to the buyer’s offer, and the buyer’s offer is void.
[(8)] (6) When the deposits and other considerations have been returned to the buyer, upon the buyer’s signed, written release and indemnification of the holders of the deposits and other considerations, the holders [shall be] are released from all liability for the deposits and other considerations.
[(9)] (7) Any [disclaimer or] seller’s property disclosure statement issued by the seller is part of and incorporated into the offer and the acceptance.
SECTION 7. ORS 105.480 is amended to read:
105.480. (1) The representations
contained in a seller’s property
disclosure statement and in any amendment to the disclosure statement are the
representations of the seller only[, and
no]. The representations of the
seller are not representations of:
(a)
A financial institution that may have made or that may make a loan
pertaining to the property covered by a seller’s property disclosure statement, or that may have or take a security
interest in the property covered by a seller’s property disclosure statement[,].
(b)
A real estate licensee engaged by the seller or buyer.
(2) Neither a financial institution nor a real estate licensee is bound by or has any liability with respect to any representation, misrepresentation, omission, error or inaccuracy contained in [another party’s] the seller’s property disclosure statement required by ORS 105.465 or any amendment to the disclosure statement.
[(2) For purposes of ORS 105.465 to 105.490, “financial institution” has the meaning given that term in ORS 706.008 and also includes mortgage bankers and mortgage brokers as those terms are defined in ORS 59.840, and consumer finance companies licensed under ORS chapter 725.]
SECTION 8. ORS 105.485 is amended to read:
105.485. The burden of proof of lawful delivery of a seller’s [disclaimer or seller’s] property disclosure statement and any amendment thereto [shall be] is on the seller. The burden of proof of lawful delivery of a notice of revocation of a buyer’s offer [shall be] is on the buyer.
SECTION 9. ORS 105.490 is amended to read:
105.490. ORS 105.465 to 105.490, 696.301 and 696.870 [shall] do not directly, indirectly or by implication limit or alter any preexisting common law or statutory right or remedy including actions for fraud, negligence or equitable relief.
Approved by the Governor June 12, 2003
Filed in the office of Secretary of State June 12, 2003
Effective date January 1, 2004
__________