Consider this document as a roadmap for the period between the signing of the contract and the conclusion of the sale. A real estate purchase agreement does not really transfer ownership of a house, building or land. Instead, it provides a framework for each party`s rights and obligations before the legal transfer of ownership can take place. You must use this agreement if you (a) are a potential buyer or seller of housing, if you want to (b) define the legal rights of each party to the sale, and (c) set out the respective obligations of each party prior to the transfer of title. With regard to real estate, a contract of sale is a contract between a buyer who wishes to buy a house or other land and a seller who owns and wishes to sell that property. A real estate purchase contract is usually offered by a buyer and is subject to acceptance of the terms by the seller. A contract to buy and sell residential properties in Oregon is delivered to a homeowner by a buyer who wishes to acquire a residential property. The document transmits the buyer`s proposal and sets a period during which the owner must accept the conditions before the offer expires. If the owner rejects the original proposal but wishes to negotiate new terms, he can submit a counter-proposal with conditions adapted to his preferences (this may be necessary if the owner wishes to change the purchase price, financing conditions, closing date or other provisions). Pursuant to section 105.465(2), sellers must provide a declaration of disclosure of real estate to any person who makes a formal offer to purchase real estate in Oregon.

Contingency: An eventuality is a condition that must be met for the purchase to take place. If the contingency is not fulfilled, the buyer has the option to withdraw from the contract and not proceed with the purchase. Some examples of common contractual configurations are: Use our real estate purchase agreement to sketch out an offer to purchase real estate and the terms of the sale. Treuhandservice: Escrow is a neutral third party responsible for holding funds during the purchase transaction. Serious money deposits are usually deposited on Treuhand. Escrow offers protection to both parties as long as the contractual risks are still outstanding. For example, a buyer could deposit their serious money deposit in trust until a home inspection is complete, and be sure that if there are problems with the inspection and the buyer decides not to proceed with the contract, he or she will recover the serious money deposit from the fiduciary party…