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
I am the person. The person himself/herself. The actual person. ...
Device that cuts off an electric circuit when the current becomes to strong. ...
The real estate industry bases the agency definition on the relationship between a real estate agent and the client they represent. Agency relationships have a fiduciary element to them ...
Holding pool of mortgages. It is marketed as a tax exempt mortgage backed security for investors. ...
Everyone knows what is a retirement home, but if we were to give our best most concise retirement home definition it would be of something like: real estate facilities that cater to retired ...
Situation in which a business debts exceed the fair market value of its assets. ...
Home inspector is the name the real estate industry calls the professional responsible for the close and thorough examination of a property. The home inspector usually is called upon ...
An individual for whom a court has awarded a financial judgment against a debtor. For example, a court award makes Smith a judgment creditor against Cole for $2,000. ...
Local government ordinances governing real estate development including structural and design aspects. Zoning ordinances usually define various usage classifications ranging from ...
Have a question or comment?
We're here to help.