Oregon Property Buyer Advisory 2024

Oregon Property Seller Advisory 2024

Go to the Oregon Real Estate Agency's Initial Agency Disclosure Pamphlet webpage for full information on the pamphlet and procedures. 

Buyers and Sellers should take extreme caution when wiring funds in real estate transactions. Cybercrime continues to have widespread impacts on Oregonians, and the real estate industry is no exception. Scams are sophisticated and continually changing, which requires Buyers, Sellers, and industry partners to be on constant alert to identify and report questionable practices. 

OREGON WIRE FRAUD ADVISORY

RESIDENTIAL TENANT OCCUPIED PROPERTIES

The purchase and sale of real estate that is currently occupied by a tenant brings additional consideration for both the seller and buyer that are important to be aware of. As with most areas of the law, there are local, state, and federal laws that must be complied with to protect all parties to a transaction. On the state level, Oregon recently passed, Senate Bill 608, which amends/creates new laws surrounding rent increases and no-cause evictions and goes into effect immediately. Within Senate Bill 608, changes have been made to landlord/tenant rights, including notices, timing, applicability and certain exceptions for renovations, demolitions, safety and purchasers planning to use the home as their primary residence.

Due to the complexities of this law, it is important for brokers to stay within the limitations of their real estate license and not provide legal advice. We recommend consulting with an attorney to ensure compliance with all local, state, and federal laws. You can also see a bill summary and a list of STATEWIDE RENT CONTROL FAQ'S developed by the Oregon Association of REALTORS^®immediately following the passage of the legislation.

Oregon adopted new requirements in fall 2018 for handling asbestos. The Oregon Department of Environmental Quality requires property owners and contractors to identify asbestos and to properly handle, package and dispose of asbestos waste from demolition and renovation projects. A new requirement that’s especially applicable to the real estate industry is the new residential renovation survey requirement. Properly handling asbestos protects public health. When asbestos is disturbed, tiny fibers are released into the air and may cause lung cancer and other illnesses. There’s no known safe level of exposure.

There are three main changes to Oregon’s asbestos requirements:

1. Residential renovation asbestos survey:All houses and other residential buildings constructed prior to 2004 must now have an asbestos survey conducted by an accredited inspector prior to demolition and renovation activities, with one main exception for owner-occupants doing their own renovation work. This expands an existing asbestos survey requirement for residential demolitions and for commercial demolitions and renovations.
2. Updated disposal requirements for nonfriable waste: Nonfriable asbestos waste must now be packaged the same as friable asbestos waste. Friable materials are those that can be easily crumbled and release asbestos fibers. Applying the same packaging standard for nonfriable and friable materials streamlines the packaging requirements for all asbestos waste and ensures a safer work environment for employees, residents, neighbors and disposal facility workers.
3. Accredited laboratories for asbestos testing: Starting January 1, 2021, the bulk asbestos samples collected during the asbestos surveying must be analyzed by a laboratory that participates in a nationally recognized accreditation or testing program. This new requirement establishes a common level of competency and reliability in analysis to properly identify asbestos content. DEQ will maintain a public list of accredited laboratories on its website.

Find more information about Oregon’s asbestos rules on DEQ’s Asbestos Information webpage.