Preparing Offers To Purchase
A legally binding agreement to buy a property, which gives a certain price for a specific piece of property. The offer may be firm or conditional.
Firm – you are buying the property with no conditions attached. If the offer is accepted by the seller, you are bound by the Agreement
Conditional – Certain conditions must be met before you will agree to buy the property. For example, a satisfactory home inspection might be one condition or satisfactory mortgage financing might be another; if these conditions are not met then the deal can be terminated and the deposit will be returned to the purchaser.
How We Can Help
The offer is usually prepared by a real estate agent but if no agent represents you, it can be created by a lawyer. That's where GCY's Real Estate Lawyers come to your help. We have reviewed and edited thousands of offers to protect your interest in one of the most important purchases you will ever make. We specialize in real estate offers.
Details in an offer to purchase include who the purchaser (buyer) is and who the vendor (seller) is and details about the property included in this offer. When you initially make an offer, it is a written offer to purchase and sometimes sellers do not accept the first offer and a counter-offer can come back to you. This process could go on a number of times, with changes being made to various components of the offer, such as:
- date of closing
- amount of deposit
- items included in the transaction (appliances, furnishings etc).
Let our GCY real estate experts help you.