ASSIGNMENTS OF CONTRACT IN OREGON

Last night there was a post, it is under member journals, that started, "needed help with"
It is also from Oregon and I too have wanted to do things near North Bend, Oregon. But look up his post, his name is "unlimited weatlth."
I will probably post something again to bring it back under the forums, as some people were posting several repeat things and that knocks the rest of us out. And I needed some input on Oregon also.
Lets hope we can get some good advice on doing any deals there.
If an assignment can't be done, why can't a double closing or a "bird dog" situation, but then the person finding the property has to be working for that investor. As part of their team?
So will follow this thread for a while.
Sandi

in which it was written. I am not an attorney, so please don't use this as legal advice, as it just my opinion on the matter.

Where dccapital said:
I looked online at the State of Oregon’s Real Estate Agency website http://landru.leg.state.or.us/ors/696.html where it says: "An individual may not engage in, carry on, advertise or purport to engage in or carry on professional real estate activity, or act in the capacity of a real estate licensee, within this state unless the individual holds an active license as provided for in this chapter."

....to carry on professional real estate activity or act in the capacity of a real estate licensee..... means exactly that. You can't act like a realtor. You can act like an investor and buy and sell for your own account. If you couldn't, it would be restraint of trade. Investors wouldn't be able to flip property themselves. There would be no FSBOs in Oregon. You just can't try to match buyers and sellers directly for a fee. Assignments are in that grey area. I believe that all contracts can be assigned unless stated otherwise.But there is a right way and a wrong way to do an assignment. You need to follw Oregon state law (whatever that may be) Assignments would fall under contract law. I don't do anything in Oregon as it is too far from where I operate, but research, a few phone calls to the right agency, can probably shed some light on this. Don't believe what real estate agents say as gospel as they usually are taught how laws apply to them; not necessarily to the public at large. (I get in disagreements all the time with Realtors simply try to protect their turf)Get some information from the realty board, or the attorney general's office. While they can't practice law in your behalf, they can give you some hypotheticals. Just make sure you ask the right questions in the right way.

Thanks for the input. I live in Oregon and am determined to develop a system to make these deals happen. I just posted on the "need help with" post. People are doing some of these deals in Oregon. I think you just need to find the right professionals to place on your team, that get it. The NW REI Association in Portland has been a good investment in finding more info on this. I am just really digging into this and will try and keep it posted on this site. Do you guys have any suggestions on keeping this topic active within the site. I think it is an important one for investors in the North Western US.

Thanks,

Jeff
TTJ Investing Inc

I am new at this and working on getting all my ducks in a row and taking action in real estate, so I am certainly no expert, but I went to the Oregon State web page and this is what I found. It says in order to do any of the following you are required to obtain a Real Estate Broker's license:

“. . . any of the following actions, when engaged in for another and for compensation or in the expectation or upon the promise of receiving or collecting compensation, by any person who:
(a) Sells, exchanges, purchases, rents or leases real estate;
(b) Offers to sell, exchange, purchase, rent or lease real estate;
(c) Negotiates, offers, attempts or agrees to negotiate the sale, exchange, purchase, rental or leasing of real estate;
(d) Lists, offers, attempts or agrees to list real estate for sale;
(e) Offers, attempts or agrees to perform or provide a competitive market analysis or letter opinion, to represent a taxpayer under ORS 305.230 or 309.100 or to give an opinion in any administrative or judicial proceeding regarding the value of real estate for taxation, except when the activity is performed by a state certified appraiser or state licensed appraiser;
(f) Auctions, offers, attempts or agrees to auction real estate;
(g) Buys, sells, offers to buy or sell or otherwise deals in options on real estate;
(h) Engages in management of rental real estate;
(i) Purports to be engaged in the business of buying, selling, exchanging, renting or leasing real estate;
(j) Assists or directs in the procuring of prospects, calculated to result in the sale, exchange, leasing or rental of real estate;
(k) Assists or directs in the negotiation or closing of any transaction calculated or intended to result in the sale, exchange, leasing or rental of real estate;
(L) Except as otherwise provided in ORS 696.030(1)(L), advises, counsels, consults or analyzes in connection with real estate values, sales or dispositions, including dispositions through eminent domain procedures;
(m) Advises, counsels, consults or analyzes in connection with the acquisition or sale of real estate by an entity if the purpose of the entity is investment in real estate; or
(n) Performs real estate marketing activity as described in ORS 696.600.”

I suppose it would depend on the legal definition of "compensation" right? I intend on talking to a local RE lawyer to clear up what exactly is considered compensation, but I suspect that an assignment of contract would qualify. The license costs about $750 and approx. 150 hours. If this is any obstacle to jumping on a great deal then I will just get licensed so I don't have to limit my options. Oregon is a crazy place and has so many laws but as a freind of mine recently said " he who works within the law enjoys the most freedom" I find this to be especially true when it comes to business.