HOW TO MAKE AN OFFER TO PURCHASE?
After visiting an apartment for sale or a house for sale, you may be interested and you want to position yourself to indicate it to the seller. To do this, you will give him an offer to purchase written by you. What does it contain and involve?
The offer to purchase
The offer to purchase is a writing expressing to the seller your wish to buy his property. In order for it to be valid and to facilitate your exchanges with the seller, we inform you about the elements that you must appear.
The content of the offer to purchase
Its writing is not governed by any law or specific rule, however you must show certain elements that remain mandatory :
In common use, the validity period of the offer is one week. In addition, you can formulate on your offer if there are conditions precedent, such as obtaining your loan. This mention will be notified in all cases during the sales agreement.
The commitment of an offer to purchase:
An accepted offer to purchase commits you to the seller. It is not recommended to make one only to block a property and retract afterwards. At the risk of incurring on the one hand the risk of prosecution, and on the other hand of damaging his credibility as a buyer with the real estate agent with whom one may have to visit other properties.
In case of doubts about your intentions to buy a property, you can make an oral offer to purchase, it binds you only slightly and can thus retract you by not making a written offer to purchase. In return, the seller is not related to you either and he can offer the property to another buyer.
Offer to purchase and real estate counter-proposal:
An offer to purchase at a price lower than the displayed selling price allows the seller to refuse your offer or to make you a counter-proposal. This refusal or counter-proposal automatically nullifies the offer and releases you from any commitment.
No payment is allowed when an offer to purchase is made. The only payment that occurs before the signing of the authentic deed is that of the receiver that accompanies the signing of the sales agreement.
You will have to pay a percentage of the sale price under receivership, and you will have 10 days to withdraw from the sale without losing the money paid.
The offer to purchase is a writing expressing to the seller your wish to buy his property. In order for it to be valid and to facilitate your exchanges with the seller, we inform you about the elements that you must appear.
The content of the offer to purchase
Its writing is not governed by any law or specific rule, however you must show certain elements that remain mandatory :
- Your identity and that of the seller
- The validity period of your offer
- The price you offer
In common use, the validity period of the offer is one week. In addition, you can formulate on your offer if there are conditions precedent, such as obtaining your loan. This mention will be notified in all cases during the sales agreement.
The commitment of an offer to purchase:
An accepted offer to purchase commits you to the seller. It is not recommended to make one only to block a property and retract afterwards. At the risk of incurring on the one hand the risk of prosecution, and on the other hand of damaging his credibility as a buyer with the real estate agent with whom one may have to visit other properties.
In case of doubts about your intentions to buy a property, you can make an oral offer to purchase, it binds you only slightly and can thus retract you by not making a written offer to purchase. In return, the seller is not related to you either and he can offer the property to another buyer.
Offer to purchase and real estate counter-proposal:
An offer to purchase at a price lower than the displayed selling price allows the seller to refuse your offer or to make you a counter-proposal. This refusal or counter-proposal automatically nullifies the offer and releases you from any commitment.
No payment is allowed when an offer to purchase is made. The only payment that occurs before the signing of the authentic deed is that of the receiver that accompanies the signing of the sales agreement.
You will have to pay a percentage of the sale price under receivership, and you will have 10 days to withdraw from the sale without losing the money paid.
Below is our typical purchase offer model:
