An offer to purchase real estate is a specific document that allows someone interested in buying a piece of land or a building to offer an amount of money. If you are an individual making an offer for a house, for example, your real estate agent should help you fill out the documents and make the offer to the home owner. If you are a corporation looking to purchase an office building, then offer might look similar but the instructions will be somewhat different.
How to Write an Offer to Purchase Real Estate:
There are a few important elements to include when writing an offer to purchase real estate, regardless of whether you make the offer as an individual or as a business. Here are some general writing guidelines:
- Identify the property with the address, recorded deed and the page number of the recorded deed, property lines, and any other descriptive information needed.
- Include names of all the proposed buyers, such as individuals, corporations, real estate brokers, banks, etc.
- State earnest money, and offering price. If you wish to offer a good faith deposit, state that amount as well – this can range from a few hundred dollars, to as much as 10% of the asking price.
- Clearly state provisions upon which you would accept the property, such as the current owner paying for an inspection and taking money off the asking price for damages or repairs to the house (for example, if the roof needs to be replaced).
- State the time you wish the sale to close. This is generally at least one month after the offer is accepted. If there are current tenants, you should also consider when you would like them off the property.
- Require the seller to detail state required information about safety hazards, such as asbestos or lead paint, and anything else about the property that must be disclosed.
Why Should I Use an Offer to Purchase Real Estate Template?
If you are a real estate agent or other person who helps people purchase property, a template can help you keep track of all the necessary information the buyer and seller must include. Because templates are formatted the same every time, you can easily reference the information, and maintain a high level of professionalism. Download our free templates of offers to purchase real estate today and get started!