Offer to purchase
A written property offer that can become a binding sale agreement once accepted, depending on its terms and signatures.
Definition
An offer to purchase should be reviewed before signing because it can govern price, suspensive conditions, deposit, occupation, occupational rent, fixtures, defects, disclosure forms, transfer costs, breach, cancellation, and timing. Once accepted, changing it may be difficult without agreement.
Key takeaways
A written property offer that can become a binding sale agreement once accepted, depending on its terms and signatures.
Conveyancing
Book Conveyancer
Related legal problems
This glossary provides general information only and does not constitute legal advice.
Common situations
Buying property
Offer review
Suspensive condition
Related resources
Resources and guides
Property Transfer Checklist
Preparation checklist for buyers and sellers moving through property transfer.
ConveyancingChecklistProperty Buyer Cost Checklist
Prepare fee and scope questions for a conveyancing matter by separating consultation fees, fixed fees, hourly work, disbursements, official fees, exclusions, approval rules, and invoice controls.
ConveyancingFAQs
Offer to purchase FAQs
What does Offer to purchase mean?
A written property offer that can become a binding sale agreement once accepted, depending on its terms and signatures.
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