If you are in the process of buying or selling a property, you may come across the term "offer". An offer is a formal proposal made by a buyer to purchase a property. It outlines the price that the buyer is willing to pay for the property, as well as the terms and conditions of the sale.

The offer is a crucial step in the buying process as it is the point at which negotiations between the buyer and seller begin. If the seller accepts the offer, it becomes a legally binding contract, and the buyer can proceed with the purchase. However, if the seller rejects the offer, negotiations may continue until a mutually acceptable agreement is reached.

It is important to note that an offer is not the same as a contract of sale. A contract of sale is a legal document that outlines the terms and conditions of the sale, and it is only created once the offer has been accepted by the seller.

If you are a buyer, it is important to ensure that your offer is carefully considered and includes all the necessary details to protect your interests. If you are a seller, it is important to carefully review and consider all offers before making a decision.