Handling Competing Offers Under OREF 083

Q: My seller has accepted an offer that includes OREF 083 – Buyer’s Contingent Right to Purchase Addendum. Today, the seller received another offer without a sale contingency that my seller would very much like to accept. What are the next steps?

A: Under Section 7, if the seller receives and accepts another written offer before the buyer removes their sale contingency, the seller can deliver OREF 083B – Contingent Right to Purchase Notice to Buyer to the buyer. Once the buyer receives that notice, they have one calendar day to respond by either removing their contingencies or terminating the transaction.

It’s important to note that an “acceptable written offer” does not mean simply receiving another offer. Under lines 50–51 of Section 7, the seller must actually accept the second offer, in back-up position, before issuing the notice to the buyer.

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