Free Offer to Purchase Real Estate

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Offer to Purchase Real Estate

Seller Details


Seller Details

Seller



e.g. Unit #, Street, City, State ZIP Code







Your Offer to Purchase Real Estate

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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 the
terms 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:

  1. Real Property
  2. The legal description of the Property is as follows: ___________________________________________________________________________________________________________________________, which includes the fixtures and improvements located on the Property that are listed within this Offer. All property included within this Offer is referred to as the "Property".
  3. Sales Price
  4. The total purchase price of $__________ (the "Purchase Price") that is to be paid for the Property by the Buyer is payable as follows:
    1. The initial earnest money deposit (the "Deposit") accompanying this offer is $__________. The Deposit will be paid by cash on or before September 15, 2019. The Deposit will be held in escrow by ______________________________ until the sale is closed, at which time this money will be credited to the Buyer, or until this Offer is otherwise terminated; and
    2. The balance of the Purchase Price will be paid in cash or equivalent in financing at closing unless otherwise provided in this Offer. The balance will be subject to adjustments.
  5. Closing & Possession
  6. The Closing Date will be on or be prior to September 15, 2019 or at such other time agreed by the Parties, at which point the Buyer will take possession of the Property.
  7. Notices
  8. All notices pursuant to this Offer must be written and signed by the respective party or its agent and all such correspondence will be effective upon it being mailed with return receipt requested, hand-delivered, or transmitted by facsimile as follows:

    Buyer
    Name: _________________________
    Address: _________________________
    Phone: __________

    Seller
    Name: _________________________
    Address: _________________________
    Phone: __________

  9. Severability
  10. If any terms or provision of this Offer will, to any extent, be determined to be invalid or unenforceable by a court of competent jurisdiction, the remainder of this Offer will not be affected and each unaffected term and provision of this Offer will remain valid and be enforceable to the fullest extent permitted by law.
  11. Interpretation
  12. Headings are inserted for the convenience of the Parties only and are not to be considered when interpreting this Offer. Words in the singular mean and include the plural and vice versa. Words in the masculine gender mean and include the feminine gender and vice versa. Words importing persons include firms and corporations and vice versa.
  13. Time of Essence
  14. Time is of the essence in this Offer. Every calendar day except Saturday, Sunday or US national holiday will be deemed a business day and all relevant time periods in this Offer will be calculated in business days. Performance will be due the next business day, if any deadline falls on a Saturday, Sunday or US national holiday. A business day ends at 5 p.m. local time in the time zone in which the Property is situated.

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 September 15, 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-ownership
Social 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's Signature

_________________________
Date

_________________________
Time





Seller: ____________________________
Seller's Name: _________________________
Address: _________________________

Date: ____________________________
Phone: __________

Marital status: ___Single ___Married ___Separated ___Divorced ___Co-ownership
Social Security #: ____________________

Offer to Purchase Real Estate Information

Alternate Names:

An Offer to Purchase Real Estate is also known as a:

  • Real Estate Offer Form
  • For Sale by Owner Offer Form
  • Home Purchase Offer Letter
  • Real Estate Offer Letter

What is an Offer to Purchase Real Estate?

An Offer to Purchase Real Estate is a legal document used to outline a potential real estate transaction between two parties. It is typically used when someone wants to put an offer on a house or other private residence that is for sale but there are conditions that need to be met before the sale can be finalized.

What is included in an Offer to Purchase Real Estate?

An Offer to Purchase Real Estate will generally contain:

  • Details about the seller and buyer (including their name, contact information, and whether or not they are a person, corporation, or organization)
  • The property's legal description (such as a lot and block or metes and bounds description)
  • The asking price (i.e. the price being offered for the property)
  • The proposed closing date and possession date
  • A deadline for accepting the prospective offer

A home purchase offer letter will often list other important details concerning the potential sale, such as if the offer is subject to any conditions (like requiring the completion of a home inspection or a disclosure statement).

What is a condition in an Offer to Purchase Real Estate?

The term condition in an Offer to Purchase Real Estate refers to a provision that must be met for the real estate sale to go through (like if a seller is required to provide a certain form to a buyer before the sale can be completed). For example, a buyer may include the following conditions in their offer:

  • A property appraisal: an assessment of the value of the home, which is used to confirm the buyer isn't paying significantly more than what the property is worth
  • A title search: a search of the current land title (a document proving who owns a particular piece of property), which is used to verify the property has no liens against it or any other ownership issues that could impact the sale
  • A home inspection: a review of the property performed by a licensed inspector that details any damage or defects in the home and any attached buildings
  • A disclosure form: a document that outlines information regarding the property, such as if recent renovations were done, if there were any past problems with pests, etc.

Other common conditions for an Offer to Purchase Real Estate can include:

  • The buyer must sell their existing home before the purchase can be completed
  • The buyer must receive a mortgage approval from a bank or other lending institution before the transfer of property can take place
  • The seller must arrange to have specific things done to the property before the buyer takes possession (such as painting, cleaning the carpets, making repairs, etc.)

What types of offers can you make in an Offer to Purchase Real Estate?

An Offer to Purchase Real Estate can be used to make a firm or 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 means the buyer wishes to purchase the property with conditions, meaning before the sale can finalized, one or more prerequisites (such as requiring a home inspection) must be fulfilled.

Why should I use an Offer to Purchase Real Estate?

Using a real estate offer letter lets you, as a buyer, bid on a property without being bound to the sale until certain conditions are met.

In instances when a buyer is making a conditional offer (instead of a firm offer), using an Offer to Purchase Real Estate can help the seller to determine whether or not they are able to meet the terms and conditions of the offer, which often helps both parties save time and avoid potential issues in the future.

Related Documents:

  • 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
  • Warranty Deed: a document used to transfer the title of a property from one person to another and provides confirmation that the property is free from any liens on encumbrances

Frequently Asked Questions:

Offer to Purchase Real Estate FAQ
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