I recently wrote a post about the CC&Rs in Sunriver and the condo associations in Sunriver. Many Real Estate professionals from around the U.S. commented on how their state has a clause in the contract that allows the buyer to review the CC&Rs prior to moving forward with the contract. In Oregon, our standard contract allows 5 business days (unless otherwise indicated) to review the CC&Rs and preliminary title report.
What does this mean for you the buyer? You may receive documents from your REALTOR® regarding the CC&Rs, but these are just to familiarize yourself with them, the official ones will come from the title company your escrow is opened with. Your REALTOR® will not receive a copy of them unless they request a copy. It is your responsibility to actually read these rules.
If you have any issues with the CC&Rs you need to let your REALTOR® know as soon as possible. At that point your agent should draft a document for you to sign and to be presented to the seller for signatures. If you have withdrawn from the contract and have done so in the time frame in which your contract states, any earnest money you have in escrow should be rightfully returned to you.
Thesa Chambers • Broker • RE/MAX Sunset Realty
541-771-7064 Cell • 541-536-0117 Office • 888-868-2050 Toll Free
Mailing Address • PO Box 3510, La Pine, OR 97739
Comments(11)