Contracts
In an Oregon residential sale, which document typically contains the inspection contingency, earnest money details, and closing date?
AThe Seller's Property Disclosure Statement
BThe Purchase and Sale Agreement✓ Correct
CThe ALTA Title Commitment
DThe Closing Disclosure
Explanation
The Purchase and Sale Agreement (also called the Real Estate Purchase Contract or PSA) contains all key negotiated terms including price, earnest money, contingencies (inspection, financing, appraisal), and closing date. It is the primary contract governing the transaction.
Related Oregon Contracts Questions
- A buyer's purchase agreement includes a contingency stating 'subject to buyer's attorney review within 5 days.' This is a:
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