Contracts
In Oregon, a purchase contract contingency must be either removed or exercised by the stated deadline. If neither party acts, the contingency is typically:
AAutomatically extended by 5 business days
BWaived, and the contract proceeds without the contingency✓ Correct
CA default by the buyer allowing the seller to keep the earnest money
DReferred to OREA for arbitration
Explanation
In Oregon purchase and sale agreements, if a contingency deadline passes without the buyer exercising or removing the contingency, the contingency is typically waived and the contract proceeds without it. Contract language governs; parties should review specific agreement terms.
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