Offer To Purchase
Definition of "Offer to purchase"
A proposal to buy property at a specified price. The seller of the property has the options of accepting the offer, rejecting it, or making a counteroffer. For example, John signs a listing agreement to sell his home for $175,000. Brian makes an offer to purchase the property at $155,000. John makes a counteroffer of $165,000 as a price for the purchase of the home.
Popular Real Estate Terms
An early term used to describe all types of real estate property, improvements to the land, and all rights accruing to the land. ...
Room containing a toilet and wash basin, but does not include a shower or bath tub. ...
Mortgage for residential property. ...
What is reconciliation in real estate? Both aspiring appraisers and wannabe real estate agents know the definition of reconciliation in real estate. In appraisal, it refers to the process ...
Single mortgage or other encumbrance that covers more than one piece of real estate. ...
Cash earnings generated from a real estate investment or property. Cash earnings equals cash revenue less cash expense. The cash earnings may or may not be discounted to its present value ...
Intentionally misstated or undisclosed facts, statements or representations. Misrepresentation is a form of fraud which could lead to cancellation of a contract or other liability. For ...
Failure or refusal to perform a specified action. The failure to fulfill contractually agreed upon terms or actions. Nonperformance creates a liability which can enable a judicial damage ...
For the definition of affirmative action, we can say it is a type of policy through which individuals that pertain to an underrepresented part of society get increased opportunities to ...
Have a question or comment?
We're here to help.