Get answers to legal questions about real estate

the question

What is an offer to purchase?

the answer

Like the name sounds, an “Offer to Purchase” is the written form of a contract to buy real property on certain terms and conditions. All contracts to purchase real property must be in writing to be binding. Also, any lender will absolutely require a contract before it would consider loaning money against real property. As with all contracts you can get yourself into trouble if you don’t fully understand what you are doing and that is why you should always consult a Realtor or a Real Estate Attorney before entering into a binding contract. Always remember as Paul Adair said: “If you think a professional is expensive, wait 'til you try an amateur.”

Phillip C. Price
Real Estate Closings

• Affordable • Experienced • Accessible
828-633-2374 • www.phillippricelaw.com 

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