Who is exempt from Oregon real estate law?

A nonlicensed individual who acts in the nonlicensed individual’s official capacity as a receiver, a conservator, a trustee in bankruptcy, a personal representative or a trustee, or a regular salaried employee of the trustee, acting under a trust agreement, deed of trust or will.

Who of the following is required by Oregon law to have a real estate license?

Who of the following is required by Oregon law to have a real estate license? A woman who receives a finders’ fee for soliciting buyers for her sister, who is licensed.

Do you need a real estate license to sell a business in Oregon?

In Oregon, a business broker is required to be licensed by the state real estate agency. In many of the other Western US states, and a handful of states east of the Rockies, each state’s real estate broker’s license is required to provide business brokerage services.

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Which of the following constitutes engaging in professional real estate activity as defined by Oregon law?

Which of the following constitutes engaging in professional real estate activity as defined by Oregon law? A person who, for a fee, rents real estate owned by others to the public & A person who, for a fee, assists owners only in procuring prospective tenants for the owners’ rental property.

Can Attorney sell real estate in Oregon?

See OSB Formal Op No 2005-10 (lawyer may own real estate firm and title company that do business with lawyer’s legal clients). … OSB Formal Op No 2006-176 discusses whether a lawyer may act not only as the lawyer, but also as the real estate agent and mortgage broker for a client who wants to buy or sell real estate.

What states have reciprocity with Oregon real estate license?

Oregon has reciprocal licensing agreements with the following jurisdictions:

  • Alabama.
  • Alberta.
  • Georgia.
  • Nebraska.
  • South Dakota.

What are government powers in real estate?

What is Police Power? Police power is how the government regulates real estate. Examples of police power include zoning laws, building codes, fire codes, rent control, safety hazards, and tenant rights. Unlike eminent domain, no compensation needs to be paid for the implementation of police power.

How much does it cost to get real estate license in Oregon?

It costs around $1,000 to get your real estate license in Oregon. While some costs are fixed, such as the state’s application, exam fee, and fingerprint fee, others can vary greatly, including the price of your prelicensing education, which ranges from $329 to $429 depending on the provider you choose.

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Is it worth it to become a real estate agent?

Choosing to become an estate agent is no longer a stop-gap or part-time job, but a real career choice with excellent prospects. It is an option definitely worth considering for graduates and school leavers, especially those with ambition, drive and initiative and who enjoy dealing with people.

When an earnest money deposit check is placed into escrow?

When is the earnest money check cashed? Once your offer is accepted, the earnest money check is usually deposited into an escrow account, where it is held until closing. That money is collateral that guarantees your promise to purchase the house.

Which of the following activities is a an unlicensed personal assistant legally permitted to perform?

According to the policy, unlicensed assistants may perform the following activities: Answer the phone and forward calls to licensee. Transmit listings and changes to a multiple listing service. Follow up on loan commitments after a contract has been negotiated.

How do you figure out commission on a house?

The real estate commission calculator works by calculating a simple equation: The agreed-upon payment percentage/100 x the price of the property. For example, if a homeowner sells their home for $200,000, and the commission rate is 5%, the equation would be (5/100) x 200,000 = $10,000 commission.

At what age can you sell your home and not pay capital gains?

The over-55 home sale exemption was a tax law that provided homeowners over the age of 55 with a one-time capital gains exclusion. Individuals who met the requirements could exclude up to $125,000 of capital gains on the sale of their personal residences.

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Can you sell a house as is in Oregon?

Every home sold in Oregon is sold as-is, however, the buyer has the right to negotiate any and all repairs. This does not mean that you do not need to disclose known problems with the house. You MUST disclose known issues to the buyer.

Is title insurance required by law in Oregon?

Although no law requires a preliminary title report to be prepared or that the home seller pay for title insurance, if the buyer is financing the purchase of your Oregon home, the mortgage lender will demand that the buyer have title insurance. … This is negotiable, especially if the buyer wants extended coverage.