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Updated almost 3 years ago,
Contingencies on an Offer
Hello fellow real estate agents,
I work full time as a real estate agent in the state of California. I hired an agent in Oregon to sell a rental property for my boyfriend and I. I have a question for you local Oregon agents - is it standard practice to include a contingency of buyer selling primary home with a purchase contract if they in fact have a home to sell in order to qualify for financing?
I ask this because in CA it would be considered unethical and potentially grounds for license suspension if an agent were to submit a purchase contract knowing an offer is contingent on the buyer selling their primary home, and not including it with the offer.
Is this the case in Oregon as well? Or do you just use the financing contingency?
TIA!