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Define Offer in Real Estate
Offer:
An "offer" is a proposal to make a deal with someone else. It's like saying, "I'll do this for you if you do that for me." The offer sets out the terms of the deal, like how much money is involved or when it will happen. If the other person agrees to the offer without changing anything, then the offer becomes a binding contract.
Example:
If you're looking to buy a house, you'll make an offer to the seller. Your offer will include things like how much money you're willing to pay for the property, when you want to close on the sale, and any conditions that need to be met before the sale can go through. If the seller accepts your offer without making any changes, then you have a binding contract to buy the house.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
An "offer" is a real estate pact,
Between buyer and seller, a fact.
It sets the terms, like the price in tact,
And if accepted, it's a deal exact.
For example, if you want to buy a house,
You might offer the seller, quiet like a mouse,
"I'll give you this much money," oh so douse,
"For your lovely home, and all its sweet espouse."
If the seller agrees to your proposal,
Without any changes, so colossal,
Then the offer becomes a contract, no disposal,
And the home is yours, so joyous and jocular!