Oregon Real Estate Practice Test 2025 – Complete Exam Prep

A seller in Oregon can cancel a purchase agreement when they have a lawful reason or if specific contract clauses allow for cancellation. This means that the seller must adhere to the terms outlined in the purchase agreement and relevant laws, including any contingencies or conditions that have been agreed upon by both parties.

For instance, if the agreement includes contingencies related to inspections, financing, or appraisal, the seller may have the right to cancel the agreement if those conditions are not met. Additionally, the seller may need to provide valid justification under Oregon’s real estate laws, ensuring that any cancellation is legally justified and not arbitrary.

The other scenarios presented do not accurately reflect the legal framework surrounding real estate transactions in Oregon. Cancellation purely for any reason or upon receiving a higher offer without the appropriate contractual clauses may lead to legal disputes, as these actions could violate the terms of the agreement already in place.