Free Offer to Purchase Real Estate

Answer a few simple questions Print and download instantly It takes just 5 minutes

Create Your Free Offer to Purchase Real Estate

  1. Answer a few simple questions
  2. Email, download or print instantly
  3. Just takes 5 minutes

Offer to Purchase Real Estate

Where is the property located?


Where is the property located?

Virginia

VABuilt for Virginia
Different states have different rules and regulations. Your Offer to Purchase Real Estate will be customized for Virginia.





Offer to Purchase Real Estate

Other Names

An Offer to Purchase Real Estate is also referred to as:

  • Real Estate Offer Letter
  • Real Estate Purchase Agreement
  • Building Purchase Contract
  • Home Buyer's Offer Letter

What is an Offer to Purchase Real Estate?

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.

What types of offers are there?

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.

What conditions can be placed on an offer?

Here are some of the conditions a buyer may include in an Offer to Purchase Real Estate:

  • A property appraisal: confirms the buyer isn't paying significantly more than the property is worth
  • A home inspection performed by a licensed inspector: discovers any damage or defects in the house and attached building.
  • A title search: verifies the property has no liens against it or any other ownership issues that could impact the sale
  • Buyer must sell their existing home before the purchase can be completed
  • Buyer must receive mortgage approval from a bank or other lending institution before the transfer of property takes place
  • Seller must arrange to have specific things done to the property before the buyer takes possession: painting, carpet cleaning, repairs, etc.

Why should I use 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.

Forms related to an Offer to Purchase Real Estate

  • Real Estate Purchase Agreement: a sales contract used specifically for a private residential property sale
  • Land Contract: a contract used for a property sale where the seller provides financing to the buyer for the purchase
  • Mortgage Agreement: a contract used when a buyer is taking out a mortgage with a private lender

Frequently Asked Questions:

Offer to Purchase Real Estate FAQ
Create your free Offer to Purchase Real Estate in 5-10 minutes
Know someone who could benefit from a free Offer to Purchase Real Estate form? Pass it along:
This document preview is formatted to fit your mobile device. The formatting will change when printed or viewed on a desktop computer.
Loading ...
Loading ...

Note: Your initial answers are saved automatically when you preview your document.
This screen can be used to save additional copies of your answers.