Oregon Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement
What is this form?
This Contract for Sale and Purchase of Real Estate with No Broker is specifically designed for residential home sales in Oregon. It serves as a legal agreement between the buyer and seller, outlining the terms and conditions of the property sale without the involvement of a real estate broker. This form is essential to ensure that all important details related to the transaction are documented and legally binding.
When to use this form
This form should be used when an individual or entity intends to buy or sell a residential home in Oregon without the assistance of a real estate broker. It is appropriate for various sale types, including cash sales or transactions involving assumed loans. Use this form to ensure the transaction is legally documented and to protect the interests of both parties involved.
Who needs this form
- Homeowners selling their property directly to buyers
- Buyers interested in purchasing residential real estate in Oregon
- Investors seeking to acquire residential properties without broker intervention
Steps to complete this form
- Identify the buyer and seller, including their full legal names.
- Describe the property being sold, including the address and legal description.
- Specify the purchase price and any financing details, such as loans being assumed.
- Include any disclosures regarding the property's condition or inspections.
- Review and sign the contract, ensuring all parties agree to the terms.
Notarization guidance
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to provide complete information regarding the property.
- Not clearly stating the financing arrangements and conditions.
- Overlooking required disclosures about the property's condition.
- Not obtaining necessary approvals or verifications related to the lot or parcel.
Why use this form online
- Convenient access to a legally vetted template, tailored for Oregon.
- Easy editing options to customize the document according to specific needs.
- Ensures compliance with current legal standards for real estate transactions.
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FAQ
The bottom line is: Real estate contracts must always be in writing in order to be enforceable. While laws may vary from state to state, most states have a Statute of Frauds that applies. And in general, oral contracts are hard to prove and enforce, so it pays to have agreements in writing.
Once both buyer and seller sign the purchase agreement, the contract is legally binding. In many cases, however, the contract has contingencies or certain conditions that must be met in order for the sale to go through.
A real estate deal can take a turn for the worst if the contract is not carefully written to include all the legal stipulations for both the buyer and seller.You can write your own real estate purchase agreement without paying any money as long as you include certain specifics about your home.
An Offer to Purchase Real Estate (the "Offer") is a document that sets out the basic proposed terms and conditions between the Buyer and the Seller in a real estate transaction. Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement.
1 Access The Desired Real Estate Template To Record A Purchase Agreement. 2 Introduce The Agreement, Seller, Buyer, And Concerned Property. 3 Define The Basic Terms Of The Real Estate Purchase. 4 Record Any Property The Buyer Must Sell To Complete This Purchase.
A valid home purchase agreement must be in writing. The contract must contain an offer and an acceptance. The purpose of the agreement must be legal. There must be an exchange of things of value (usually, it's money for property)
Who Prepares The Real Estate Purchase Agreement? Typically, the buyer's agent writes up the purchase agreement. However, unless they are legally licensed to practice law, real estate agents generally can't create their own legal contracts.