Definition of "Offer to purchase"

Ann  Murphy real estate agent

Written by

Ann Murphyelite badge icon

Realty Mark Central

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

A group of investment bankers underwriting and distributing a new or outstanding issue of securities of a real estate business. a professionally managed limited partnership investing in ...

A cost of funds index that most adjustable rate mortgages written in California in recent years are tied to. Computed by the Federal Home Loan Bank of San Francisco, it reflects the cost ...

Expenditures incurred to improve a specific real estate development; however, these improvements are not directly on the property. Example are curbs, driveways, and streets. ...

Need to know the Ad Litem definition after coming across this weird term? Ad litem is short for “Guardian Ad Litem” or “Attorney Ad litem”, a legal term that ...

Loss of property from nonfulfillment of some duty or condition. In some cases, forfeiture is required by a court order, whereas in other cases the nonfulfillment of a contractual debt is ...

A way to sell and finance property by which the seller keeps title but the buyer takes possession while installment payments are being made. The gain is taxed while the mortgage ...

The right of a landowner to have lateral land support from adjacent properties. The right of lateral and subjacent support means that an adjacent land owner may not, for example, lower or ...

The term after-tax rate of return calculates an investor’s net return after income taxes. The calculation is used by many businesses and investors to determine their real earnings. ...

Shingles having uniform length, but random width. Random shingles give a creative appearance to a roof. ...

Popular Real Estate Questions