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
Latin term meaning something in exchange for something else. For example, a person rushes through an order for another in return for having first choice in selecting a parcel of ...
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Records maintained as evidence of ownership of the home and any of its contents. ...
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A provision not explicitly stated in an agreement, but considered as an important item. For example, the buyer of a home anticipates it to meet seller's claims as to condition and use. ...
Amount invested in property in cash. ...
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Local zoning law or private limitation on how far in feet a structure might be situated from the curb or other appropriate marker. ...
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