Offer To Purchase
Definition of "Offer to purchase"
A proposal to buy property at a specified price. The seller of the property has the options of accepting the offer, rejecting it, or making a counteroffer. For example, John signs a listing agreement to sell his home for $175,000. Brian makes an offer to purchase the property at $155,000. John makes a counteroffer of $165,000 as a price for the purchase of the home.
Popular Real Estate Terms
A type of equity participation loan where, in exchange for charging a below-market interest rate, the lender receives a predetermined percentage of a any increase in value of the property ...
The term’s abstract of title definition is the recorded summary of a property’s history. Abstracts of title can be used to determine former and present ownerships of any ...
Expenditures incurred building a structure, including material and labor. ...
That portion of a loan collaterized by a leased property extending beyond the expiration date of the lease. For example, a lending institution collaterizes a 20-year loan on a commercial ...
cash value or other consideration that can be received in a forced sale of real estate, such as that occurring in a foreclosure or when a company is going out of business. The liquidation ...
The meaning of a disclosure statement is a legal document signed by both parties, the lender and the borrower or buyer. This statement outlines the terms and conditions, the potential ...
A criminal act of falsely representing another individual to gain profit or gain an advantage. ...
income statement destroyed by a casualty such as a fire. This requires the reconstruction of the income statement based on source records, information, and documents. Income statement ...
An improvement to property that is below the standard, usual expectation. An example is when a contractor's work on a house is below the quality that the homeowner reasonably expected for ...
Have a question or comment?
We're here to help.