Property purchase agreements
A buyer's written offer for a property that becomes the sale agreement if the seller signs it.
Set the terms for buying a property.
- Personal & business / Legal document
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Key features
How long the offer stays open
A date and time for acceptance, after which the buyer may withdraw, and a right to withdraw earlier by notice received before acceptance.
Price, deposit and loan
The price with deposit and balance, who holds the deposit, and whether the buyer needs a loan with a date for a written commitment.
Conditions the buyer can set
Inspections and what happens if the parties do not agree on repairs, an appraisal condition and a condition that the buyer sells its own property.
What the buyer asks the seller to provide
Disclosures, title documents, any survey, details of leases or disputes, recent bills and anything else.
Accepting and counter-offers
Signing within the time makes it the agreement; different terms are a counter-offer the buyer may accept or decline.
About this document
An offer to purchase property is written by a buyer to a seller. It identifies the property, states the price offered, how long the offer stays open, the deposit and how the buyer will pay, what the buyer expects included, inspections, title, valuation and sale-of-own-home conditions, closing and costs. If the seller signs within the time, it becomes the agreement.
This blank form leaves every figure and date blank. It says that if the seller wants different terms they should set them out as a counter-offer. Offers, conditions and what a seller must do to accept are governed by state law and practice, and in many places agents use standard forms, so check before you sign.
Is this document right for you?
Useful when
- You want to make a written offer on a property
- You want to attach conditions such as a loan or inspection
- You are dealing directly with a seller
Commonly used by
- Home buyers and investors
- Buyers dealing privately
- Small commercial buyers
Not sure? about your situation first.
Alternatives
These are separate documents, for different jobs.
- Property sale agreementsSet the terms for selling a property.View document
- Real-estate disclosure documentsDisclose what a buyer or tenant needs to know.View document
- Land ContractSell land with the buyer paying in installments over time.View document
- Purchase and sale legal reviewHave a lawyer check a property purchase or sale.View document
When to use this
- A buyer offers subject to a survey and loan
- A buyer makes an offer conditional on selling their own home
- A buyer sets a short time limit for a seller to respond
What happens next
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More in Real Estate Transactions & Transfers
- Gift deedFormally give property to someone as a gift.View document
- Property sale agreementsSet the terms for selling a property.View document
- Property transfer documentsTransfer ownership of a property to someone else.View document
- Real-estate disclosure documentsDisclose what a buyer or tenant needs to know.View document
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Questions
About the property purchase agreements
Once the seller signs within the time, the form says it becomes the parties' agreement. Whether and when an offer binds depends on state law and the terms, and the conditions you set matter, so consider legal advice first.
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