Oklahoma License Law
Oklahoma law requires a licensee to provide a copy of the signed purchase contract to all parties:
AWithin 10 business days of signing
BWithin 3 business days of the contract being fully executed✓ Correct
CAt closing only
DOnly upon written request
Explanation
Oklahoma requires licensees to provide a copy of the fully executed purchase contract to all parties as promptly as possible, generally within a few days, so all parties have the agreed-upon terms in writing.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
State-Specific Concepts
License Law
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