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Offer to Purchase Real Estate
THIS OFFER TO PURCHASE REAL ESTATE (the "Offer")
IS MADE BY:
_________________________ of _________________________(the "Buyer")
OF THE FIRST PART
- TO -
_________________________ of _________________________(the "Seller")
OF THE SECOND PART
Background
The Buyer wishes to submit an offer to purchase a certain completed home from the Seller under theterms stated below.
IN CONSIDERATION OF and as a condition of the Seller selling the Property and the Buyer purchasing the Property (collectively the "Parties") and other valuable consideration the receipt of which is hereby acknowledged, the Parties to this Offer to Purchase Real Estate agree as follows:
BuyerName: _________________________Address: _________________________Phone: __________
SellerName: _________________________Address: _________________________Phone: __________
Buyer's Offer
This is an offer to purchase the Property on the above terms and conditions. The Seller has the right to continue to offer the Property for sale and to accept any other offer at any time prior to acceptance by the Seller. If the Seller does not accept this offer from the Buyer by February 23, 2019, this offer will lapse and become of no force or effect.
Buyer: ____________________________Buyer's Name: _________________________Address: _________________________
Date: ____________________________Phone: __________
Marital status: ___Single ___Married ___Separated ___Divorced ___Co-ownershipSocial Security #: ____________________
Seller's Acceptance/ Counter-Offer/ Rejection
_____Acceptance of offer to purchase: The Seller accepts the foregoing offer on the terms and conditions specified above, and agrees to convey the Property to the Buyer.
_____Counteroffer: The Seller presents for the Buyer's Acceptance the terms of the Buyer's offer subject to the exceptions or modifications as specified in the attached addendum.
_________________________Seller's Signature
_________________________Date
_________________________Time
_____Rejection: The Seller rejects the foregoing offer.
Seller: ____________________________Seller's Name: _________________________Address: _________________________
An Offer to Purchase Real Estate is also referred to as:
An Offer to Purchase Real Estate is a legal document used by someone who wishes to place a bid on a house or other private residence that is for sale. The document contains a description of the property for sale, the price being offered for the property, the proposed closing date and possession date, and other important details concerning the potential sale.
An Offer to Purchase Real Estate can be a firm offer or a conditional offer.
A firm offer means the buyer is willing to purchase the property without any specified conditions. If the seller accepts a firm offer, the transaction can be completed without further negotiation.
A conditional offer requires that one or more prerequisites be fulfilled before the purchase can be made official.
Here are some of the conditions a buyer may include in an Offer to Purchase Real Estate:
Using an offer letter lets a potential buyer bid on a property without fully committing until all of the conditions are met. It also helps the seller to determine whether or not they are able to meet the terms of the conditional offer, which can save both parties time and help to avoid potential issues in the future.
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