Dear Forms Committee: If my buyer’s offer is contingent on the closing of their property, which is already in escrow, do I still use OREF 083 – Buyer’s Contingent Right to Purchase Addendum?

OREF 083 – Buyer’s Contingent Right to Purchase Addendum is only necessary if the buyer’s property is not yet pending. If the property is already pending, the buyer must identify that as a contingency in Section 4 of the Sale Agreement. Be sure to include any details, such as the estimated closing date and any remaining contingencies on the transaction for the buyer’s property.

All comments and responses from OREF or its staff, managers, and volunteers are non-legal opinions made for general purposes. Each Forms subscriber must rely solely upon their Principal broker or personal legal counsel for specific advice and instruction. You and your client should independently confirm that the Form(s) you use are legally suitable for the purposes intended and that they are current with respect to all laws and regulations.