Oregon Administrative Rule 863-015-0135 Offers to Purchase
Oregon Administrative Rule 863-015-0200 Agency Relationships
Oregon Administrative Rule 863-015-0205 Disclosed Limited Agency
Explanation of Administrative Rules Involved
Administrative Rules concerned with agency relationships and disclosed limited agency flesh out the statutory duties but add no additional requirements. The Administrative Rules concerning offers, however, do impose additional requirements on licensees. In particular, the Rules demand prompt tender of all offers and a written record of the date and time of the tender as well as the date and time of any response.
The duty to include all the terms and conditions in the offer can also come into play in a multiple offer situation. In multiple offer situations, there is a tendency for the agents to discuss how things will or should be handled. When those discussions cross the line into points of agreement affecting an offer, the agreed-to terms or procedures must be included in the offer itself. Click here for a detailed discussion of offers.
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